Prem Bodagala joined Invest Detroit as Senior Vice President, Venture and Director, ID Ventures in January 2024. Prem is an accomplished investment professional with over a decade of experience in venture capital. He most recently served as Director at Michigan Rise and Red Cedar Ventures in East Lansing, MI. Notably, Prem conceptualized Michigan Rise’s equity and PO financing programs and with support from MSU Research Foundation & Michigan Economic Development Corporation was instrumental in launching that fund in 2020. He oversaw investment, portfolio management and operational facets of the two early-stage investment funds with a combined $40M assets under management. During his tenure there Prem helped curate a portfolio of over 100 tech startups, which raised over $750M in funding to date.
Before his impactful role at Michigan Rise and Red Cedar Ventures, Prem served as Director at Invest Michigan in Detroit and as Portfolio Manager at the Michigan Economic Development Corporation. His venture capital journey began as the junior member of the founding team at Michigan Accelerator Fund – I in Grand Rapids, MI, where he played a crucial role in raising and investing the first early-stage venture capital fund in West Michigan.
Prem’s educational background includes a Master of Science in Information from the University of Michigan, specializing in Health Informatics and Human-Computer Interaction. He also holds a Master of Business Administration from Grand Valley State University and a Bachelor of Business Administration from Western Michigan University.
Beyond his professional achievements, Prem finds joy in family life. He resides in Ann Arbor with his better half, Amrita Puri, and their two-year-old son, Neil Bodagala. Outside of work, the Bodagala family shares a passion for nature trails, global travel, and recreating culinary delights inspired by their adventures around the world.