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Crain's
Detroit Business April 23, 2007 Who is behind the state’s efforts to fund venture capital, create jobs and grow young businesses? Here are the key players: ... Charles Rothstein Co-founder, senior managing director Beringea L.L.C., Farmington Hills Rothstein and partner David Eberly founded Beringea’s predecessor, GMA Capital, in 1988. In 2001, it merged with London-based ProVen Private Equity and has since grown to be the state’s largest venture-capital firm, with about $270 million in assets under management, offices in Shanghai, London and Los Angeles, and more than 40 portfolio companies. Beringea is raising what it hopes will be a $150 million fund, Beringea Media Partners L.P., which will invest in media-content companies in the U.S. and Europe. Last year, the Michigan Venture Capital Association honored Rothstein with an “Above and Beyond” award for his behind-the-scenes work in helping create the 21st Century Investment Fund and the Venture Michigan Fund. Rothstein, who has an MBA from the University of Michigan, serves on Gov. Jennifer Granholm’s Council of Economic Advisors and is on the board of both the Venture Michigan Fund and the Michigan Strategic Fund, which oversees the 21st Century Jobs Fund, which in turn includes the 21st Century Investment Fund.
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