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Magic Johnson joining Detroit investment effort

By JEFF KAROUB , 07.21.11, 04:08 PM EDT

 

DETROIT -- Hall-of-Fame basketball player turned businessman Earvin "Magic" Johnson said Thursday joining a Detroit venture capital company that includes Quicken Loans founder and chairman Dan Gilbert is "the right opportunity" to invest in the largest city of his home state.

 

The ex-NBA star and Lansing native will be a general partner in Detroit Venture Partners, an early stage venture capital firm launched by Gilbert and two others last year that targets technology startups and growing them in Detroit. Johnson said he's "writing a big check" to the firm worth millions, but declined to say exactly how much.

 

Read more at: http://www.forbes.com/feeds/ap/2011/07/21/business-us-quicken-founder-detroit-investment-michigan_8577847.html

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Magic Johnson joining Detroit investment effort
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