First Step Fund

Managed by Detroit Innovate, The First Step Fund is a pre-seed investment fund serving emerging and newly-formed high growth businesses in Southeast Michigan. Investment size ranges from $15,000 to $150,000 initial investments with considered follow-on investments of up to a maximum of $150,000 for qualifying companies. The Fund sometimes partners with other investors for investment rounds that are typically sized between $150,000 and $500,000. The funds target area includes Southeastern Michigan with a special preference in the City of Detroit. The First Step Fund is industry agnostic and focuses on high growth, emerging businesses that can demonstrate the ability to scale. The Fund has a desire to be inclusive to businesses led by women, immigrants, and minorities.