Michael Obi
Michael Obi is the President of UBIZ Venture Capital, a newly formed non-traditional lending organization with primary focus of providing capital to growing minority businesses in the Greater Cleveland market. He also serves as SVP, Economic Development at the Urban League of Greater Cleveland. Michael’s mission includes helping economic development organizations develop robust and inclusive entrepreneur initiatives to accelerate the growth of businesses and job creation in communities. In following with his passion that minorities should be more involved in entrepreneurship and job creation, Michael led the effort to establish the Entrepreneurship Center at the Urban League of Greater Cleveland in 2004. This model has now been replicated across 12 US cities with over $100 million economic impact per year. He continues to oversee the operations and strategies for the Entrepreneurship Center that helps over 900 clients per year to launch, grow and sustain thriving businesses in Greater Cleveland, Ohio.
In 2016, Michael was instrumental in launch the Capital Access Fund (CAF) of Greater Cleveland. The CAF program operates in partnership with the National Development Council (NDC), National Urban League’s Urban Empowerment Fund (NUL-UEF), The Urban League of Greater Cleveland (ULGC), and Morgan Stanley. The CAF successfully provided growth capital to 29 businesses out of a pipeline of over 200 businesses in its first two and half years of inception.
In 2008, Michael successfully led his company Spectrum Global Solutions, LLC (SGS) in the purchase of development rights for Little Caesars Pizza franchises in the Cleveland area. SGS currently operates four Little Caesars stores in Northeast Ohio and employs over 40 associates and more than doubled its revenue by the third year of operation. In Michael’s own words “our stores are great instruments in the community to prepare young adults to be great businesspeople and to possess strong work ethics.” On the global stage, Michael has successfully negotiated complex transactions in Hong Kong, mainland China, Nigeria, and Italy. Michael earned his bachelor’s degree in accounting and M.B.A. in Finance from the University of North Florida’s Coggin School of Business in Jacksonville, Florida. He has held executive leadership positions with various banks such as, Bank of America, Wells Fargo and SunTrust. Prior to launching Spectrum, he served as Senior Vice President for KeyBank’s Retail and Business Banking Segments where he led the Sales and Service Effectiveness Group. KeyBank awarded him the Chairman’s Award of Excellence; the highest honor given to its staff for his leadership role in a marketing initiative that grew demand deposit to a record 50 percent. Michael spent a total of 17 years in banking and financial services industry with in depth expertise in corporate banking, small business and retail banking, an unusual combination. Michael is active in the community where he serves on the following economic development and human services boards: Cleveland Citywide Development Corporation (CCDC), Cuyahoga County Community Improvement Corporation (CCIC), Presidents Council Business Chamber (Past Chairman), Economic Development Advisor, United Cerebral Palsy (UCP) , Cleveland Council of World Affairs (CCWA), and CNB Bank. Michael is a Partner with Social Venture Partners (SVP) and a member of the Leadership Cleveland Class of 2016.