Joe Malcoun is a driving force of entrepreneurship in Ann Arbor.
He has been an angel investor in a handful of growing tech companies. He leads a fast-growing software company in the hot IT space of customer-relationship management. And he and his partners are creating a tech/startup hub in the city’s downtown.
Nutshell has raised $5.5 million in angel and venture capital, including investments by Ann Arbor-based Plymouth Venture Partners and Invest Detroit’s Detroit Innovate fund.
“I have secured millions of dollars in funding from exceptional investment partners and have significantly increased the enterprise value of the company,” said Malcoun. “As a result, I have been able to hire incredibly talented people. The team we have assembled at Nutshell is exceptional in every regard, and I could not be prouder of them.”
One day, Malcoun’s greatest achievement may be considered his co-founding of Cahoots Holdings LLC, which is completely making over three adjacent buildings on East Huron Street in downtown Ann Arbor to serve as a tech incubator and co-working space for early-stage tech companies. It will also be the new headquarters for Nutshell, which is at 30 employees and growing.
The project, scheduled for completion late this year, is also called Cahoots. “Cahoots will serve as a center of gravity for the entire entrepreneur community. A place where people meet, learn, work and have fun with like-minded innovative people,” said Malcoun, who is also board president of 826michigan, an award-winning creative writing and tutoring nonprofit founded by the author Dave Eggers.
Last year, the nonprofit opened the Detroit Robot Factory in Eastern Market and now serves hundreds of students in the Detroit Public School system.