Grand Ventures, a venture capital firm based in Grand Rapids, Michigan, has announced the launch of its second fund. This new fund, called Fund II, aims to support early-stage companies that are addressing challenges in the fintech, DevOps, and supply chain sectors. With a fund size of $50 million, Grand Ventures is well-positioned to make significant investments in promising startups.
Grand Ventures’ Fund II will primarily focus on investing in startups that operate in the fintech, DevOps, and supply chain industries. These sectors present numerous opportunities for innovation and disruption, and Grand Ventures aims to identify and support companies that have the potential to make a significant impact in these areas.
With a fund size of $50 million, Fund II represents a substantial commitment from Grand Ventures to support early-stage companies. The management team for this fund consists of general partners Tim Streit, Camila Noordeloos, and Nathan Owen. Their extensive experience in the venture capital industry will ensure that Fund II is managed effectively and able to provide valuable support to the portfolio companies.
In addition to Fund II’s $50 million, Grand Ventures also manages $30 million from its first fund. This brings the total assets under management for the firm to $80 million. The significant capital at their disposal enables Grand Ventures to make substantial investments in promising startups and provide ongoing support throughout their growth journey.
While Silicon Valley has long been considered the epicenter of the tech and venture capital industries, Grand Ventures is actively seeking opportunities outside this hub. The firm believes that there are exceptional entrepreneurs and innovative tech companies located throughout the United States and Canada. By exploring these regions, Grand Ventures aims to discover promising investment opportunities and help propel the growth of tech ecosystems beyond Silicon Valley.
Grand Ventures is committed to providing early-stage companies with the support they need to succeed. The firm understands the challenges that startups face during their nascent stages and seeks to provide not only financial support but also mentorship and strategic guidance. By supporting entrepreneurs in their early days, Grand Ventures aims to help them navigate the path to success and create a strong foundation for growth.
Grand Ventures recognizes the potential of emerging industries and aims to play a pivotal role in shaping their landscape. By investing in startups operating in sectors such as fintech, DevOps, and supply chain, the firm is positioning itself at the forefront of industry innovation. Through strategic investments and support, Grand Ventures aims to contribute to the growth and development of these emerging sectors.
While Grand Ventures is open to exploring opportunities across the United States and Canada, the firm has a particular geographical focus on the Midwest and central Canada. These regions have seen significant growth in the tech and startup ecosystems, and Grand Ventures aims to nurture and support entrepreneurs in these areas. However, the firm is also looking beyond these regions, recognizing the potential for innovative startups in other locations.
As a venture capital firm based in the Midwest, Grand Ventures places particular importance on the fit between the founders of potential portfolio companies and the firm. Tim Streit, one of the general partners at Grand Ventures, believes that his Midwest roots enable him to connect with founders from the region on a deeper level. This alignment of values and understanding of the local ecosystem helps facilitate more fruitful partnerships.
Grand Ventures has a preference for founders who are resourceful and possess multidisciplinary skill sets. The firm values entrepreneurs who are willing to get their hands dirty and take on various roles within their startups. This scrappy approach to entrepreneurship often leads to innovative solutions and demonstrates the founder’s commitment to the success of their venture.
When considering investment opportunities, Grand Ventures prefers founding teams that consist of two individuals. This team size allows for effective collaboration, complementing each other’s skills and expertise. By investing in startups with strong founding teams, Grand Ventures believes it can enhance the chances of success and provide the necessary support for growth.
Grand Ventures looks for founders with domain expertise in their respective industries. This deep knowledge enables them to identify market gaps and develop innovative solutions. Additionally, the firm values founders with technical aptitude, as it allows them to navigate the complexities of building and scaling technology-driven startups.
Embedded finance, a growing trend in the financial technology sector, has piqued Grand Ventures’ interest. The firm sees the potential for significant disruption and innovation in this space and aims to identify startups that are integrating financial services into various industries. Additionally, Grand Ventures is interested in vertical software-as-a-service (SaaS) solutions that offer embedded payment capabilities. This combination of SaaS and embedded payments presents exciting opportunities for startups, and Grand Ventures aims to support companies operating in these areas.
Grand Ventures’ first fund has already yielded successful investments in several notable startups. TealBook, based in Toronto, is a supplier intelligence platform that streamlines procurement processes. InvestNext, based in Detroit, provides a digital investment management platform for real estate investors. Chain.io, based in Philadelphia, offers supply chain integration solutions. Astronomer, headquartered in Cincinnati, is a pioneer in big data and developed the enterprise-grade Apache Airflow platform.
Grand Ventures’ investment in Astronomer exemplifies the firm’s ability to identify and support innovative companies. Astronomer, founded in Cincinnati, recognized the need for an enterprise-grade version of Apache Airflow, a popular big data management platform. By building this company from humble roots, Astronomer has become a leading player in the big data space and has received recognition from the venture capital community.
Grand Ventures has attracted co-investors from prominent venture capital firms, solidifying the recognition of their investment expertise. Through strategic collaborations, Grand Ventures leverages the collective knowledge and networks of these co-investors to provide comprehensive support to portfolio companies. The firm’s ability to align with esteemed venture capital firms further validates their investment strategy and approach.
Grand Ventures has already made several key investments from Fund II. iink Payments, a startup focused on revolutionizing digital payments, has attracted investment from Grand Ventures. Payload CMS, a content management system tailored for e-commerce businesses, has also received support from the firm. Terminal 49, a logistics platform that provides real-time visibility and analytics for the supply chain industry, completes the initial set of investments made by Grand Ventures from Fund II.
In conclusion, Grand Ventures’ new fund represents an exciting opportunity for early-stage companies in the fintech, DevOps, and supply chain sectors. With a focus on the Midwest, central Canada, and beyond, the firm aims to support promising startups and shape the landscape of emerging industries. Grand Ventures’ investment criteria, including a preference for scrappy founders with multidisciplinary skill sets, underscores their commitment to finding and supporting exceptional entrepreneurs. Through successful past investments and partnerships with co-investors, Grand Ventures has established itself as a respected player in the venture capital community. The initial investments made from Fund II in iink Payments, Payload CMS, and Terminal 49 demonstrate the firm’s commitment to identifying and supporting innovative startups with significant growth potential.
