Grand Ventures: McKeel Hagerty and Tim Streit Launch Early-Stage Midwest Focused Venture Fund
GRAND RAPIDS, MICH. (February 13, 2017) – Today, McKeel Hagerty, of Hagerty Insurance, and Tim Streit, of Huron River Ventures, announce the launch of an early-stage, Midwest focused venture fund called, Grand Ventures I, L.P. Grand Ventures will provide capital and strategic support to entrepreneurs starting high impact technology companies in industries with a strong presence in the Midwest.
Co-founders, Streit and Hagerty, formed Grand Ventures to capitalize on rapidly growing Midwest start-up ecosystems and the shortage of early-stage venture capital. They see an exceptional opportunity for a focused early-stage venture fund to fill this gap.
“The Midwest holds incredible potential for start-ups and early-stage venture capitalists. This is a great time to be an entrepreneur and Grand Ventures wants to help companies realize their full potential,” said Streit.
Streit also co-founded the successful Huron River Ventures in 2010, which raised $16 million across multiple funds and invested in 20 leading technology companies including Ambiq Micro, FarmLogs, SightMachine and others. Its portfolio has raised more than $200 million in follow-on funding from many of the nation’s top venture capital funds.
Hagerty, a longtime friend and advisor of Streit’s first fund, offers an equally impressive skill set as CEO of Hagerty Insurance and serves as the current Chairman of the Board for YPO. His company started with just 30 employees and now has more than 840 employees worldwide with offices in the United States, Canada, Germany and the United Kingdom. This growth has resulted in total insured value coverage in excess of $36 billion.
“Combining Tim’s venture capital tenure, with my experience building a global company, and our shared passion for leadership development, we will be proactive partners to the businesses we support,” adds Hagerty.
About Grand Ventures I, L.P.: Grand Ventures will provide early-stage capital and strategic support to entrepreneurs building world-changing technology companies for Agriculture, Manufacturing, Transportation, and other global industries with strong Midwest presence. For more information, see www.grandvcp.com or contact firstname.lastname@example.org.