We are thrilled to announce the final close on Grand Ventures Fund I, LP at $28 million. We have invested in six companies from the fund already and are targeting the most promising seed and early-stage Enterprise SaaS companies across the Midwest and throughout other emerging geographies. We expect to invest in a total of 15-20 companies over the life of the fund that exhibit proprietary technology and service offerings and will benefit from our high-caliber talent and unique Advisory Board resources.
We continue to differentiate our firm by focusing the majority of our deal-sourcing efforts on the greater Midwest with portfolio companies in Ann Arbor, Chicago, Cincinnati, and Indianapolis. We’ve discovered that Midwest companies in particular have tapped into their entrepreneurial roots, creating unprecedented opportunity for early-stage investors with an abundance of talented entrepreneurs seeking the right support.
While ultimately focused on the rapidly growing Midwest markets, our unparalleled Advisor network identifies and evaluates opportunities across the country, with the fund already featuring investments on both coasts.
We execute on our “Capital Plus” approach through our Advisor network of more than 50 executives from a global and diverse range of industries. Included in this group and spearheading the Advisory Board is McKeel Hagerty, co-founder and managing partner of Grand Ventures and CEO of Hagerty. Fund Advisors include top executives from world-class Midwest companies such as Founders Brewing, U.S. Robotics, Lean Logistics and iEducation Group.