The collaboration officially called Detroit Venture Partners will be targeting start up and growing businesses. The former basketball player said he’ll be writing a healthy check but didn’t specify exactly how much.
“I tried to do businesses here with the mayors before to bring my theaters here – it didn’t work out,” Johnson told reporters after a news conference in Detroit. “Now, with Dan, I’ve now found the right opportunity … and the right partner.”
Johnson also commented that he’s interested in purchasing a few downtown buildings with Gilbert through Johnson’s real estate fund.
“This is a tough time for the state, but we’re going to make a comeback … one investment at a time,” Johnson said.