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Boomerang Catapult, LLC is a venture capital firm based in Traverse City, Michigan, founded to support early-stage companies that create significant economic value through intellectually intensive efforts. Established by Casey Cowell and Lowell “Jep” Gruman, the firm operates under the belief that communities thrive when they generate wealth through external markets. This philosophy drives their investment strategy, which emphasizes attracting and retaining talent in the region.
The firm currently manages a portfolio of 13 companies, focusing on sectors such as technology, biotechnology, robotics, and SaaS. Boomerang Catapult aims to foster a vibrant community by investing in enterprises that export their products and services beyond local markets. Their commitment to enhancing local economic growth is evident in their active recruitment of companies to relocate to Northern Michigan, thereby contributing to the development of a supportive tech ecosystem.
As of now, Boomerang Catapult has made notable strides in building a diverse portfolio, with investments in companies like Takanock and Atterx Biotherapeutics. The firm’s approach combines capital investment with relocation assistance, ensuring that the businesses they support are sustainable, extendable, and scalable. This dual focus not only benefits the portfolio companies but also strengthens the local economy.
Boomerang Catapult invests in early-stage companies across various sectors, including AI, biotech, robotics, SaaS, healthcare, fintech, commerce, media, and edtech. The firm primarily targets pre-seed, seed, seed+, and Series A stages, with a strong emphasis on businesses that enhance value from raw materials to final products. Their investment strategy is particularly focused on enterprises that export high-value products and services into growing markets, ensuring sustainability and scalability.
While the firm has a historical preference for technology investments, it does not confine itself to a specific sector. Boomerang Catapult seeks to support businesses that demonstrate potential for high economic impact and are capable of attracting talent to the Northwest Lower Michigan region. The firm values companies that are not only innovative but also have a clear path to market and growth.
In their own words, Boomerang Catapult aims to create a vibrant tech ecosystem in Northern Michigan by combining capital investment with community-building efforts. This includes providing relocation assistance to portfolio companies, which helps to establish a supportive environment for tech innovation and economic development.
Boomerang Catapult's portfolio includes a diverse range of companies that exemplify their investment strategy. Notable portfolio companies include:
Additionally, Boomerang Catapult had a notable exit with GeoTix, a digital ticketing platform acquired by Evvnt in 2020.
Casey Cowell: Principal and co-founder of Boomerang Catapult, Casey Cowell is a notable figure in the technology sector, having co-founded U.S. Robotics, a pioneering company in modem and networking technology. He has been recognized in Crain's Chicago Business and Crain's Detroit Business as a technology legend, bringing extensive experience in building successful tech enterprises.
Lowell “Jep” Gruman: Managing Partner and co-founder, Jep Gruman has held senior executive positions at Citicorp, H.J. Heinz, and Oaktree Capital Management. His background in finance and management complements the firm's investment strategy, focusing on high-value growth enterprises.
Jody Lundquist: Chief Financial Officer, Jody Lundquist oversees the financial operations of Boomerang Catapult. His expertise in financial management and investment analysis supports the firm's strategic initiatives and portfolio management.
Warner Queeny: Principal at Boomerang Catapult, Warner Queeny contributes to the firm's investment decisions and portfolio development. His background in technology and entrepreneurship enhances the firm's ability to identify promising startups.
To pitch Boomerang Catapult, founders should submit their proposals through the firm's website at boomerangcatapult.com. The pitch deck should include essential elements such as the business model, market analysis, competitive landscape, and financial projections. Founders are encouraged to provide a clear narrative about their vision and how their company aligns with Boomerang Catapult's investment thesis.
While there is no specific application form mentioned, a well-structured pitch deck is crucial for consideration. Response times may vary, but founders can expect to hear back regarding their proposals. Warm introductions are beneficial, as they can enhance the likelihood of securing a meeting with the investment team.
In recent months, Boomerang Catapult has made significant investments in several companies, including Takanock and Atterx Biotherapeutics, both of which align with the firm's focus on high-value growth enterprises. Takanock, which provides scalable power solutions for data centers, was added to the portfolio in 2023. Atterx Biotherapeutics, a biotechnology firm that relocated to Traverse City, focuses on combating antibiotic-resistant infections.
Additionally, the firm continues to promote its mission of fostering economic growth in Northern Michigan through its investments. Boomerang Catapult's commitment to creating a supportive tech ecosystem is evident in its active recruitment of companies to the region, enhancing local economic development initiatives.
What are Boomerang Catapult's investment criteria?
Boomerang Catapult focuses on early-stage companies that demonstrate high economic value and have the potential to export their products and services beyond local markets. They invest across various sectors, including technology, biotech, and robotics.
How can I apply or pitch to Boomerang Catapult?
Founders can pitch their ideas through the firm's website at boomerangcatapult.com. It is advisable to include a clear business model, market analysis, and growth potential in the pitch.
What makes Boomerang Catapult different from other investors?
Boomerang Catapult combines capital investment with relocation assistance, actively recruiting companies to relocate to Northern Michigan. This unique approach aims to create a supportive tech ecosystem in the region.
What is the geographic scope of Boomerang Catapult's investments?
The firm primarily focuses on Northwest Lower Michigan, particularly Traverse City, and seeks to attract companies that can contribute to the local economy.
What is the typical check size for investments?
While specific check sizes are not disclosed, Boomerang Catapult invests in early-stage companies, which typically receive funding in the range of pre-seed to Series A stages.
What kind of post-investment involvement does Boomerang Catapult have?
The firm provides ongoing support to its portfolio companies, including mentorship, resources, and community-building efforts to ensure their success and integration into the local ecosystem.
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