US-based software company Compuware has established a corporate venturing fund, to be known as Compuware Ventures, according to local business news website Crain’s Detroit Business, which reports that Compuware officials informed board members of the fund and its strategy at the company’s October 20 board meeting.
Although details concerning the fund’s financing are yet to be completely ironed out, Compuware Ventures has already invested in its first three businesses, all of which, like Compuware, are located in Detroit, Michigan.
The businesses funded by Compuware Ventures since its inception include iRule, the developer of a universal control allowing Apple products to control home entertainment systems, which secured $450,000 of seed funding in September. The other current portfolio companies are local news aggregating website Glocal.com, and mobile point-of-sale startup Own.