VCs say they are founder friendly; Detroit's Ludlow Ventures takes it further

Ludlow Ventures, a Detroit-based venture firm, attributes its 15 years of success to its focus on building strong relationships with founders. Founded by Jonathon Triest and Brett deMarrais, the firm emphasizes understanding people over verticals or ideas. Ludlow recently closed a $50 million fifth fund with commitments from notable investors. The firm's early investment in Honey, a shopping and rewards platform, resulted in a significant return when it was acquired by PayPal for $4 billion. Ludlow's approach centers on investing in people they believe in, leading to successful investments in companies like Flex, Density, Captions, Notarize, and Backbone. Triest emphasizes the importance of genuine relationships, stating that if they are not close enough to stand up at a founder's wedding, they consider it a failure. Despite not having a specific geographic or sector focus, Ludlow's portfolio reflects investments in companies with founders they admire and enjoy working with. Their approach contrasts with traditional VC models, focusing on personal connections and long-term partnerships.