HG Ventures

HG Ventures is the venture capital arm of The Heritage Group, established in 2018 and located in Indianapolis, Indiana. The firm focuses on investing in early and growth-stage companies primarily within the United States, targeting sectors such as transportation infrastructure, environmental services, specialty chemicals, and energy production. By investing up to $20 million, HG Ventures aims to support innovation and growth by partnering with private companies that are developing new technologies and approaches in both core and adjacent markets. The firm leverages the expertise of The Heritage Group's operating companies and research center to provide unique value to its portfolio companies.

Nida Ansari

Principal

Nick Arnold

Principal, Investment Team

Erin Crowther

Analyst

Hannibal George

Investor

Ginger Rothrock

Investor

Jonathan Schalliol

Investor

26 past transactions

Upclub

Seed Round in 2022
Upclub is a blockchain-based social NFT project focused on creating cultural experiences and entertainment for its members. Utilizing web3 and NFT technology, Upclub aims to foster a vibrant community where members can participate in various activities, including parties, networking events, concerts, and musicals. The platform also allows members to host their own events, facilitating deeper connections and interactions. By leveraging innovative technology, Upclub enhances community engagement and personal growth among its users.

Circulor

Series B in 2022
Circulor Ltd. is a technology company that specializes in developing a blockchain-based traceability system for industrial supply chains, focusing on responsible sourcing. Founded in 2017 and headquartered in London, with an additional office in Dublin, Circulor serves a diverse clientele that includes car manufacturers, electric vehicle battery manufacturers, commodity traders, and miners. The company's platform leverages blockchain and artificial intelligence to enhance the traceability and due diligence processes in raw materials supply chains, allowing businesses to secure deliveries, manage payments, and verify the provenance of their materials. By tracking supply chain data from source to consumption, Circulor empowers its customers to meet their sustainability goals while improving their environmental and social governance.

6K

Series D in 2022
6K is a materials development company based in North Andover, Massachusetts, founded in 2014. The company specializes in advanced microwave-based plasma technology that aims to transform the production processes of nanomaterials. By utilizing proprietary plasma processing and industrial systems, 6K enables the creation of materials tailored to specific requirements, facilitating innovation in various sectors including manufacturing, renewable energy, aerospace, and consumer electronics. With a team of experts in materials, processes, and production, 6K provides comprehensive access to the materials engineering process, allowing companies to produce high-quality materials that meet exact specifications.

H2O

Initial Coin Offering in 2022
H2O is a data-backed stable asset with a managed float regime that serves as a medium of exchange and unit of account in decentralized data marketplaces.

Valerann

Series A in 2022
Valerann is an end-to-end system installed on the road itself. Using different sensors, a unique algorithm, and a communication system tailored to the road’s unique requirements, the system provides real-time information to drivers and road operators. This includes danger recognition, instant accident prevention, optimal traffic flow adjustments, and autonomous cars guidance and support. Valerann system provides all these solutions in one product.

Biosynthetic Technologies

Series A in 2022
Biosynthetic Technologies, LLC specializes in the manufacture of bio-based synthetic oils derived from organic fatty acids found in plant oils. These oils are designed for various applications across the lubricant, specialty chemical, and cosmetic industries, offering high-performance alternatives to traditional petroleum-based products. The company produces a diverse range of biosynthetic base oils suitable for passenger car motor oils, marine lubricants, hydraulic fluids, food-grade lubricants, and personal care products, among others. Notably, these renewable oils are biodegradable and non-toxic, contributing to environmentally sustainable practices. Biosynthetic Technologies holds a comprehensive portfolio of patents for its innovative formulations, underscoring its commitment to advanced, eco-friendly solutions. Founded in 2004 and headquartered in Irvine, California, the company operates a production facility in Baton Rouge, Louisiana.

Duality

Series A in 2021
Duality Robotics Inc. specializes in human-robot interaction and robotics simulation tools, focusing on industrial applications. Founded in 2019 and headquartered in Hayward, California, with an additional office in Pittsburgh, the company offers an autonomy simulator for digital twins and an enterprise metaverse that facilitates the generation of synthetic data at scale. By leveraging artificial intelligence-powered human testers and simulation environments, Duality enables robotics teams to efficiently test and train autonomous vehicles, including sidewalks, cars, and trucks, in a virtual setting. This approach accelerates the time-to-market for various robotics applications, making advanced simulation accessible to machine learning, robotics, and engineering teams.

Seeded Network

Seed Round in 2021
Seeded Network is a borrowing and lending protocol on traditional DeFi integration with an incubator project. Seeded Network is focused on developing a network of DeFi products all serving a purpose to bring the network synchronized usage with seeded tokens.
Titan Advanced Energy Solutions specializes in developing advanced battery management systems for lithium-ion batteries, leveraging patented ultrasound technology to enhance battery performance. Their flagship product, ionView, delivers over 99% accuracy in state-of-health and state-of-charge assessments, which leads to a minimum 20% increase in charge capacity and a 125% extension of battery life. The systems also offer real-time monitoring, safety controls, and cell-level balancing. Titan's solutions cater to a diverse range of industries, including automotive, energy storage, mobile devices, and battery manufacturing, ultimately supporting the electrification and decarbonization efforts for a sustainable future. Founded in 2016 and located in Somerville, Massachusetts, the company was previously known as Titan Energy Analytics.

Waggle

Seed Round in 2021
Waggle operates as a decentralized marketplace that facilitates investment diversification for retail investors while offering project teams essential liquidity to sustain their innovations. By developing a cross-chain protocol, Waggle allows retail investors to engage in primary market investments, thereby enhancing their opportunities to contribute to and benefit from the success of the projects they support. This approach not only empowers investors but also creates value for project teams by ensuring access to liquidity, which is crucial for the ongoing development and continuity of their initiatives.

OnStation

Seed Round in 2021
OnStation develops an application designed to enhance efficiency at job sites by providing immediate access to location data, project plans, and communication tools for teams. The app features an automatic station finder that allows users to quickly determine their position on the job, even in areas where survey data and project documents may be scarce. By utilizing a statewide milepost network, OnStation's technology supports smaller projects and facilitates improved connectivity among roadway workers and designers. This integration of critical job site information helps minimize worker downtime and errors, ultimately streamlining project management and fostering consistency across various tasks.

PowerTech Water

Series B in 2021
PowerTech Water, Inc. is a company that specializes in developing and marketing advanced water treatment products. Its flagship offering, CapCo, is an electrochemical filter designed to effectively remove various metals from water, addressing the needs of industries such as batteries, microelectronics, electroplating, automotive, metal finishing, mining, food and beverage, and oil and gas. The filter targets a range of metals, including lead, copper, manganese, iron, silver, gold, mercury, zinc, nickel, and aluminum. Founded in 2014 and headquartered in Lexington, Kentucky, PowerTech Water aims to provide water-intensive industries with access to affordable and environmentally friendly clean water solutions.

Transcend Software

Venture Round in 2021
Trancend’s mission is to transform the way engineering firms, utilities, and technology suppliers assess and design critical infrastructure. Transcend was started to help transform the culture of these firms by providing software that automates the preliminary engineering of any kind of vertical asset. As these firms implement Transcend’s software it lowers costs, increases revenue (bid on more projects, faster, with more detail in less time), and frees up engineers to evaluate innovative technologies and sustainable design approaches, transcending the standard and sub-optimal solutions of years past.

Pretred

Seed Round in 2021
Pretred is a company based in Lakewood, Colorado, that specializes in repurposing waste tires and plastics into industrial use barriers and blocks. Founded in 2020, the company focuses on creating sustainable alternatives to traditional concrete, which is known for its environmental impact. Pretred's innovative products not only help reduce greenhouse gas emissions but also offer superior benefits compared to conventional materials. By providing these green products at subsidized costs, Pretred aims to support governments, construction companies, and private entities in adopting more environmentally friendly practices.

Romeo Power

Post in 2020
Romeo Power, Inc. is an energy technology company headquartered in Vernon, California, specializing in the design and manufacture of lithium-ion battery modules and packs specifically for commercial electric vehicles. Established in 2015, the company focuses on creating energy-dense battery systems that enhance performance and efficiency in sustainable transportation. Romeo Power's offerings include the Hermes modules for trucks and buses and the Brown Recluse passive cooling system, both designed to maximize heat transfer and integrate seamlessly into a variety of vehicle types. The company's innovative battery solutions provide safer, longer-lasting power sources with shorter charge times and greater energy density, enabling improved acceleration, range, and durability. Additionally, Romeo Power's products are customizable and scalable, optimized through a proprietary battery management system to meet diverse power requirements across different applications.

Ateios

Seed Round in 2020
Ateios Inc. is a company specializing in the development of ultra-thin and customizable batteries designed for integration into flexible electronics. Founded in 2018 and based in Indianapolis, Indiana, Ateios focuses on manufacturing zinc-oxide batteries that offer 2 to 5 times higher energy density compared to conventional coin cells. Utilizing a novel manufacturing process, the company produces conformable batteries made from hyper-elastic polymer materials, which can be shaped to meet specific product requirements. This innovation enables the production of ergonomic, compact, and efficient devices for various applications, including smart textiles, soft robotics, Internet-of-Things (IoT) devices, and medical or fitness wearables.

MITO (Materials)

Seed Round in 2020
MITO Material Solutions, Inc. is a specialty chemical company based in Indianapolis, Indiana, with an additional office in Stillwater, Oklahoma. Founded in 2016, the company focuses on developing and manufacturing graphene-based hybrid polymer modifiers and additives that significantly enhance material performance across various industries. One of its key products, the MITO T-Series, is a nano-additive that, when mixed with epoxies or resins, can increase the toughness of composite parts by 100% while reducing the likelihood of mechanical failure by 80%. This versatility allows industries to either enhance product toughness or decrease the quantity of materials used. The T-Series is particularly beneficial for the recreational vehicle and boating sectors, where it toughens fiberglass structures, as well as for the aerospace industry, where it enables manufacturers to reduce part weight without compromising toughness, resulting in substantial cost savings. MITO Material Solutions aims to improve the durability and performance of materials in applications such as ester resins, epoxies, and thermoplastics.

Equispheres

Series B in 2020
Equispheres Inc. specializes in the development, manufacturing, and marketing of ultra-high-performance spherical metal powders tailored for additive manufacturing and metal spray applications, particularly in the aerospace and automotive sectors. Founded in 2015 and based in Ottawa, Canada, the company employs a unique, patent-pending atomization technology that produces uniform, agglomerate-free powders with a narrow particle size distribution. These powders exhibit excellent sphericity and flowability, ensuring superior control and performance efficiencies. Equispheres' innovative products are designed to enhance the quality of end-use applications, contributing to advancements in the manufacturing processes of critical industries.

Wildnote

Seed Round in 2020
Wildnote Inc. is a technology company based in San Luis Obispo, California, that specializes in developing a cloud-based platform designed to streamline the collection, management, and reporting of environmental data. Incorporated in 2017, Wildnote offers a customizable application that enables users to create tailored survey forms and efficiently manage data through both a mobile app and a web interface. The platform serves a variety of industries, including environmental compliance and monitoring, ecological restoration, and cultural resource management. Notable clients include AECOM and Jacobs Engineering, among others, who rely on Wildnote's tools to enhance productivity and accuracy in environmental reporting. The platform features prebuilt forms for data collection, agency-ready reporting formats, and an advanced photo management system, which collectively help users save time and reduce costs while ensuring compliance with environmental regulations.

P2 Science

Series C in 2020
P2 Science, Inc. is a bio-renewable chemistry company based in Woodbridge, Connecticut, specializing in the development and production of specialty chemicals derived from renewable feedstocks, such as vegetable oils. Founded in 2009 by a team that includes Yale scientists and an experienced chemical industry executive, the company focuses on creating high-value ingredients for flavors, fragrances, cosmetics, and other applications. P2 Science aims to provide sustainable alternatives to traditional petrochemical products, catering to diverse markets, including personal care, household cleaning, agriculture, and environmental remediation. Their innovative technology enables the conversion of renewable resources into cost-effective chemical solutions, addressing the increasing demand for greener options among major users in the specialty chemicals sector. The company also maintains a laboratory in New Haven, Connecticut, to support ongoing research and partnerships throughout the supply chain.

120Water

Series A in 2019
120WaterAudit is the leading enterprise software and kit platform company that helps government agencies, public water systems and facilities manage and execute water and infrastructure programs. Visit 120WaterAudit.com to learn how their software and point of use solutions help Government Agencies, Public Water Systems and Facilities manage drinking water programs that comply with federal and state regulations.

Romeo Power

Venture Round in 2019
Romeo Power, Inc. is an energy technology company headquartered in Vernon, California, specializing in the design and manufacture of lithium-ion battery modules and packs specifically for commercial electric vehicles. Established in 2015, the company focuses on creating energy-dense battery systems that enhance performance and efficiency in sustainable transportation. Romeo Power's offerings include the Hermes modules for trucks and buses and the Brown Recluse passive cooling system, both designed to maximize heat transfer and integrate seamlessly into a variety of vehicle types. The company's innovative battery solutions provide safer, longer-lasting power sources with shorter charge times and greater energy density, enabling improved acceleration, range, and durability. Additionally, Romeo Power's products are customizable and scalable, optimized through a proprietary battery management system to meet diverse power requirements across different applications.

Puraffinity

Seed Round in 2019
Puraffinity was incorporated in 2015 and is headquartered in London. The company specialises in the design of advanced materials, and has developed a bio-based novel adsorbent capable of removing highly challenging pollutants from contaminated water and wastewater. The technology utilises advanced supramolecular chemistry methods to functionalise bio-based materials designed to bind target chemicals. The company is at the forefront of developing solutions for overcoming imminent water quality challenges, whilst sustainable and positive environmental impact lies at the heart of the company’s ethos.

Biosynthetic Technologies

Series A in 2019
Biosynthetic Technologies, LLC specializes in the manufacture of bio-based synthetic oils derived from organic fatty acids found in plant oils. These oils are designed for various applications across the lubricant, specialty chemical, and cosmetic industries, offering high-performance alternatives to traditional petroleum-based products. The company produces a diverse range of biosynthetic base oils suitable for passenger car motor oils, marine lubricants, hydraulic fluids, food-grade lubricants, and personal care products, among others. Notably, these renewable oils are biodegradable and non-toxic, contributing to environmentally sustainable practices. Biosynthetic Technologies holds a comprehensive portfolio of patents for its innovative formulations, underscoring its commitment to advanced, eco-friendly solutions. Founded in 2004 and headquartered in Irvine, California, the company operates a production facility in Baton Rouge, Louisiana.

Epogee

Venture Round in 2019
Epogee LLC. develops and produces fat replacement food ingredients. The company's ingredient can be used in confectioneries, baked goods, frozen diary, spreads, dips, peanut butters, grain products, and pastas. The company was incorporated in 2018 and is based in Indianapolis, Indiana.

Renewal Mill

Seed Round in 2019
Renewal Mill, an ingredients company, provides byproducts from food manufacturing to reduce food waste. It offers okara flour, a byproduct of soymilk production; CPG products, including a vegan okara chocolate chip cookie; and wooden spoons. It sells its product online. The company was founded in 2016 and is based in Oakland, California.
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