Boomerang Catapult is a Michigan-based company and venture capital firm that focuses in the region of Northwest Lower Michigan. Boomerang primarily focuses on the Traverse City area and is headquartered in Traverse City.
Inception and Philosophy
Casey Cowel founded Boomerang-Catapult in 2016 to invest in TC startups. The company's principal focus is on growing the economy of the Traverse City area. The term "Boomerang" was used by Cowell for Traverse City natives who no longer resided in the area, but would return if high-paying jobs were available. Boomerang Catapult aims to invest in, partner with, and otherwise catapult these "boomerangs" forward to contribute to elevating the economy.
Boomerang-Catapult has launched or assisted in 16 startups or early-stage companies in the last three years. In late 2018, Taste the Local Difference (TLD), owned by Traverse City-based Groundwork Center for Resilient Communities, was sold to Boomerang Catapult.In March 2019, Boomerang Catapult announced a second round of investment in start-up company Hybrid Robotics.