HomeUSAGrand Ventures Raises $50M Fund to Invest in Early-Stage Startups

Grand Ventures Raises $50M Fund to Invest in Early-Stage Startups

Grand Ventures

Grand Ventures, a Grand Rapids, MI-based venture capital firm, closed a $50m second fund to invest in early-stage companies.

Fund II received support from its existing investor base while adding new limited partners, including family offices.

Managed by General Partners Tim Streit, Camila Noordeloos, and Nathan Owen, Grand Ventures will invest in seed stage companies within the Fintech, Supply Chain, and DevOps sectors, typically based in fast-growing tech communities within the US and Canada.

Fund II has already made several investments including:

  • iink Payments, a fintech company that provides quicker payments after storm damage;
  • Payload CMS, an open-source headless CMS and application framework; and
  • Terminal 49, a container visibility platform and API provider.

Commenting on the close of the fund, Co-Founder and General Partner Tim Streit said: “We are thrilled to grow our investor base and see the trust we’ve built both with our new and long-standing limited partners. Investors realize the potential for outstanding returns in both venture capital funds and tech companies based outside of Silicon Valley. We are immensely proud, and humbled, by the exceptional investors who have supported Grand Ventures and the visionary founders who have selected us to be their trusted advisors.

Tim Streit added: “Over time, we started to offer to founders professional development and access to Grand Ventures’ community of limited partner advisors and realized the potential for massive value-add. Our ‘co-founder approach’ has become one of our biggest differentiators in sourcing and winning deals, as well as helping founders to realize their most ambitious goals.

Grand Ventures’ current portfolio includes 25 companies that have already added over $2 billion of enterprise value. Fund I companies include Astronomer, which is behind the Apache Airflow project; Tealbook, a master supplier data platform; and InvestNext, an all-encompassing real estate investment management platform.

Since its inception, the firm has expanded geographically and has focused more intensely on its core sectors to deepen its expertise and access to strategic partners and thought leaders for portfolio companies.

The close of Fund II brings Grand Ventures’ total funds raised to over $80m.

VCWire

11/10/2023