Huron River Ventures invests in innovation

The Grand Rapids office of Huron River Ventures (HRV) is on the third floor of the Leonard Building at 38 West Fulton, a destination earning its reputation as the "tech hub" of West Michigan.

HRV was started in 2010 with a $6 million capital infusion from the State's Accelerator Fund Program. It is a Michigan-based venture fund focused on early-stage companies, primarily with clean technology companies focusing on energy.

Managing Director Tim Streit says the firm is in a good position to support the growing entrepreneurial scene in West Michigan. "We chose Grand Rapids for our second office because we think West Michigan is poised for explosive growth as a start-up community and we believe Grand Rapids is going to be the center of that growth. Look at the amazing progress already being made by Start Garden, GVSU, Grand Rapids Tech Hub, et cetera. All of the key components of a healthy entrepreneurial ecosystem exist."

Streit highlights a recent investment in FarmLogs as an example of his firm's focus. "FarmLogs is a Michigan startup and Y Combinator alum that helps farmers digitally manage their farm to increase profitability," he says. FarmLogs recently closed a $1 million seed funding round co-led by Huron River Ventures and Hyde Park Venture Partners.  

With FarmLogs, growers plan, manage, and analyze their farm's operations to increase yield and profitability. The tool also allows farmers to quickly forecast and measure profits, track expenses, and more efficiently schedule operations. Streit says this type of business model is a perfect fit for his firm. "We invest in technologies that allow individuals and businesses to save money, improve profitability, and make smarter decisions. Our mantra is: better, faster, cheaper, and smarter."

To learn more about Huron River Ventures, you can visit their site here.

Source: Tim Streit, Huron River Ventures
Writer: John Rumery, Innovation and Jobs News Editor