Grand Ventures’ 2023 Year in Review
Fund II
In October, we announced Grand Ventures’ $50 million Fund II, to invest in early-stage companies in Fintech, Supply Chain, DevOps, and Digital Health. We’re thankful to several news outlets for sharing this exciting news:
Team Growth
To support our growing portfolio and Fund II, we’ve added two new team members to our team including:
- James Hill, General Partner
- Jacqueline Lensing, Investment Analyst
New Investments
This year, we added three new companies to our portfolio including:
- Preczn, a Fintech Ops for vertical Saas
- Tembo, a Postgres Developer Platform
- Terminal 49, an Ocean Freight Visibility Platform
Portfolio Company Funding
In 2023, Grand Ventures’ portfolio companies raised $67 million across 9 different funding rounds, ranging from Seed to Series A.
Portfolio Company Recognitions
We love seeing our portfolio companies be recognized for their hard work and growth! Here are a few examples from 2023.
- Astro by Astronomer was named a winner of the G2 2023 IT Infrastructure Products best software award!
- Carputty was named by Business Insider as one of the “61 fintechs that are primed to take a big step in 2023, according to top investors”.
- Both Chain.io and Paccurate were recognized as this year’s SupplyTech Breakthrough Award winners. Chain.io for the “2023 Overall Data Solution of the Year” and Paccurate for the “2023 Overall eCommerce Solution of the Year”.
- Elements was included as a 2023 Wealthies Finalist in the Innovation Platforms category from WealthManagement.com. They also raised a Seed Extension round of $5 million.
- iink Payments raised a $12 million Series A to deploy into three buckets: scalability and automation, building the customer base and integrations and channel partnerships
- InvestNext announced a $8.25 million Series A as they continue to focus on partnering to sponsors on our platform and continuing to make their lives easier through best-in-class technology
- Manatee’s CEO, Damayanti Dipayana, was recognized as a Titan 100.
- Paccurate was featured by 2024 FreightTech 100 Companies as one of the most innovative companies in the freight technology sector. They also raised a $3.5 million funding round.
- Payload CMS surpassed the 10k GitHub star threshold earlier in 2023. They were recognized by Purpose Jobs as a Top Remote Startup to Watch in 2024.
- Tealbook was selected as Spend Matters’ 2023 ’50 Providers to Know’
Firm Recognitions
Tim Streit was honored to be recognized as:
- Grand Rapids 200 Most Influential Leaders by Crain’s Grand Rapids Business
Camila Noordeloos was also honored to be recognized as:
- 25 Most Influential Latinos in Michigan by Vive Magazine
- Notable West Michigan Leader in DEI by Crain’s Grand Rapids Business
- Board of Directors for Michigan Venture Capital Association
Nicholas Cohn was promoted to an Associate.
Conclusion
As we wrap up 2023, we are humbled, excited, and incredibly grateful for our growing team, LP community, and portfolio. 2023 has been a record year for us, and we look forward to new opportunities in the coming year.
