The Michigan Venture Capital Association held its anniversary gala at the Greenfield Village on Thursday, Sept. 29, the site of an open-air museum founded by Henry Ford.
The 200-attendee event, which celebrated 20 years of existence of MVCA, was a recognition of disruptive innovation, startups and financiers who are working to build a better tomorrow.
Of the 15 companies nominated, there were only four winners - and Benzinga was one of them. The Detroit-based company, acquired in late 2021 by Beringer Capital for $300 million, received the Exit of the Year Award.
Individuals were recognized as well. Robin McIntosh and Lisa McLaughlin were both awarded the Entrepreneur of the Year Award. Sam Valenti III was recognized for his contributions to a new generation of investors and received MVCA's Lifetime Achievement Award.
The late Michael A. Finney once said, Without progress comes no innovation. Finney was a tribute for his contributions to the community and leadership during the event.
Jason Raznick, founder and CEO of Benzinga, said Finney needed to disrupt the status quo.
If you keep doing things the same, you don't get progress, he said. This realization gives him solace through challenges.
He said that this too will pass and that he kept remembering that this too shall pass, and he cited his unique day one approach to navigating the frustrations.
Raznick, who founded Benzinga in a basement in 2009, did not let a lack of funding and direction stop him from bridging the gap between retail and institutional investors, he explained in the MVCA speech.
People told me you can't build a financial media company from Detroit. They told me I had to move to New York. Today, Benzinga is one of the largest content providers to global brokerages and media houses, including Yahoo, MarketWatch, and Insider. In order to help investors grow their skills, Benzinga also hosts in-person thought leadership, networking, and educational events.
Raznick also quoted legendary Michigan football coach Bo Schembechler, crediting his team for the success Benzinga has achieved.
Without this team, here, and the over 100 others not here, the company wouldn't be what it is today, he said. In short, the CEO has ended up being validated by MVCA's award to Benzinga. He wants to bring financial literacy and freedom to more everyday people.
Benzinga is on your side, he said. We are for the people, by the people. We are just getting started. From left to right is Michael Murray, Jason Raznick, Renato Capelj, and Ligia Kennedy, Nick Robinson, Jason Raznick, and Renato Capelj.