The Grosvenor Funds

The Grosvenor Funds is a venture capital firm based in Washington, D.C., with an additional office in Greenwich, Connecticut. Founded in 1994, the firm specialized in investing in seed, early, mid, and expansion stage companies, focusing primarily on sectors such as wireless technology, healthcare services, pharmaceuticals, biotechnology, and IT services. Grosvenor's investment strategy emphasized identifying companies with a sustainable competitive advantage, large market potential, and a clear path to cash flow positivity within 18 to 24 months. The firm typically invested between $1 million to $2 million in initial rounds, often taking a lead role and seeking board representation. While it maintained a geographic focus on East Coast-based companies in the U.S., Grosvenor could also engage in syndicates with other venture capital firms. The firm operated under the Small Business Investment Company (SBIC) program but avoided investments in industries like airlines, restaurants, real estate, and entertainment.

Douglas Dunnan

Managing Partner

Bruce B. Dunnan

Co-Founder

C. Bowdoin Train

Managing Partner

21 past transactions

Informous

Venture Round in 2011
Informous, a B2B content marketing platform enabling businesses to reach highly targeted audiences with specific content, generating more informed and qualified leads.

GetWellNetwork

Series C in 2009
GetWellNetwork, Inc. is a company that specializes in developing interactive software solutions aimed at enhancing patient engagement in healthcare settings. Founded in 1999 and based in Bethesda, Maryland, the company provides a range of products including a patient care model that combines technology and processes to activate patient involvement in their care. Key offerings include digital patient check-in, integrated entertainment and educational resources for patients, and personalized care solutions that deliver real-time information to healthcare providers. The company's platform also features a patient engagement index to assess individual patient capacities and customizable digital rounding tools for healthcare teams. By utilizing bedside technology, GetWellNetwork aims to create a more patient-centered care experience, offering educational content tailored to specific health conditions while also providing entertainment options. The company serves a diverse clientele, including healthcare providers, pediatric hospitals, and government organizations, with an overarching goal of improving patient outcomes and overall satisfaction in the care continuum.

Portero

Series B in 2009
Portero operates as a leading online marketplace for authenticated luxury goods, specializing in pre-owned and vintage items including watches, jewelry, handbags, and accessories. The platform serves as a trusted venue where consumers can purchase luxury items that are guaranteed to be authentic. Portero collaborates with certified dealers, vendors, and brands to maintain the integrity of the items sold. The company's offerings include both new and vintage pieces, often presented in their original packaging. Leveraging industry expertise and innovative technology, Portero aims to enhance the shopping experience through various sales methods, including auctions, e-commerce, and private member sales. The company has demonstrated significant growth, reporting over 100 percent revenue increases in consecutive years.

DoublePositive

Series B in 2008
DoublePositive Marketing Group, Inc. is an online marketing company based in Baltimore, Maryland, with additional offices in Tempe. Established in 2004, it specializes in performance-based digital advertising solutions, including cross-device marketing, programmatic advertising, and live hot transfers. The company focuses on lead generation for sectors such as mortgage lending and education, transferring leads directly to client call centers. DoublePositive serves a diverse clientele, including lead buyers, lead sellers, and direct response advertisers, and aims to enhance marketing return on investment through targeted acquisition and optimization strategies. Since March 2015, it has operated as a subsidiary of Output Services Group, Inc.

mBeat Media

Angel Round in 2008
mBeat Media, Inc. (“mBeat“) is a leading service provider in the emerging digital media industry. The founding team's deep domain knowledge, is providing premium SMS mobile content aggregation and distribution (ringtones and wallpaper) services and content, primarily focused on the urban market. Through the leadership of its experienced management team has it's many subscribers, using direct-to-consumer advertising via prominent African-American targeted publications and television stations. mBeat was among the first companies to enter the mobile market and developed some of the earliest commercially availible SMS and WAP applications in the US market. The company currently offers downloadable ringtones, wallpaper images, games, and chat services. mBeat markets its services through direct response advertising through it’s flagship brand, UrbMob, www.urbmob.com, and numerous affiliate networks and partners in web, wap, TV, print, radio, and on carrier decks.

Three Stage Media

Series C in 2007
Three Stage Media, Inc. provides online media and marketing solutions for the tradeshow industry. The company focuses on developing online event portals that serve as an online show guide, search engine, and event-planning interface for attendees. It offers eventLeads for tradeshow registration process; eventAds for display media placements within show portals, show-floor kiosks, and e-newsletters; eventVideo that enables users to place custom streaming video news station on supplier microsite within the online event portal; eventMobile, which enables users to connect with on-site attendees; and eventMetrics for pre- and post-show performance reports. The company also provides eventPortal, an online show portal equipped with search engine, attendee event-planning interface, and comprehensive supplier directory; eventMarketing for lead generation, online advertising, search engine marketing, video advertising, and mobile marketing; and eventMetrics that provides data highlighting existing exhibitor performance and the opportunity afforded prospective exhibitors. It serves show organizers, exhibitors, and attendees. Three Stage Media, Inc. was formerly known as BDMetrics, Inc. and changed its name in January, 2009. The company was founded in 2001 and is headquartered in Baltimore, Maryland.

DoublePositive

Venture Round in 2007
DoublePositive Marketing Group, Inc. is an online marketing company based in Baltimore, Maryland, with additional offices in Tempe. Established in 2004, it specializes in performance-based digital advertising solutions, including cross-device marketing, programmatic advertising, and live hot transfers. The company focuses on lead generation for sectors such as mortgage lending and education, transferring leads directly to client call centers. DoublePositive serves a diverse clientele, including lead buyers, lead sellers, and direct response advertisers, and aims to enhance marketing return on investment through targeted acquisition and optimization strategies. Since March 2015, it has operated as a subsidiary of Output Services Group, Inc.

Omeros

Series E in 2007
Omeros Corporation is a Seattle-based biopharmaceutical company that focuses on discovering, developing, and commercializing small-molecule and protein therapeutics for a range of indications, including inflammation, complement-mediated diseases, and central nervous system disorders. The company is known for its commercial product, OMIDRIA, which is used during cataract surgery in the United States. Omeros has several clinical programs, with its lead candidate, Narsoplimab, in Phase III trials for conditions such as thrombotic microangiopathy and immunoglobulin A nephropathy, as well as Phase II trials for lupus nephritis. Other clinical programs include OMS405 for opioid and nicotine addiction and OMS527 for addiction and compulsive disorders. The company also has a robust pipeline of preclinical programs targeting various disorders, including MASP-3 for paroxysmal nocturnal hemoglobinuria and a GPCR platform aimed at treating a broad range of diseases. Omeros was incorporated in 1994 and remains dedicated to addressing significant unmet medical needs.

Magnolia Broadband

Series E in 2006
Magnolia Broadband, Inc. is a fabless semiconductor company based in Englewood, New Jersey, specializing in wireless communications. Founded in 2000, the company has developed and patented Mobile Transmit Diversity (MTD), a beamforming technology that enhances data throughput and coverage for wireless network operators without requiring changes to existing base stations or infrastructure standards. MTD can be implemented as either a chip or a software-only solution, making it versatile for various applications. Magnolia boasts a comprehensive intellectual property portfolio, including 28 issued patents and 24 pending patents in the U.S., alongside additional patents in international markets. The technology significantly increases spectrum utilization by 40%, improves quality of service for voice and data, and offers a proven gain in uplink performance. Moreover, it extends battery life and reduces emissions, allowing for rapid and cost-effective deployment across multi-band standards and protocols.

DoublePositive

Series B in 2006
DoublePositive Marketing Group, Inc. is an online marketing company based in Baltimore, Maryland, with additional offices in Tempe. Established in 2004, it specializes in performance-based digital advertising solutions, including cross-device marketing, programmatic advertising, and live hot transfers. The company focuses on lead generation for sectors such as mortgage lending and education, transferring leads directly to client call centers. DoublePositive serves a diverse clientele, including lead buyers, lead sellers, and direct response advertisers, and aims to enhance marketing return on investment through targeted acquisition and optimization strategies. Since March 2015, it has operated as a subsidiary of Output Services Group, Inc.

ARPU

Series B in 2006
ARPUinc is a privately held Washington DC-based technology company, focused on enabling a superior advertising and ecommerce experience for consumers, advertisers, and publishers alike. By enhancing the ease of registration and purchase for the consumer, ARPU increases the efficacy of the online channel across all three constituencies. For online advertisers and publishers, ARPU augments the effectiveness of online advertising, thereby significantly driving ROI. With a distribution network that reaches more than 20 million unique visitors per month, ARPU's roster of advertiser and publisher partners spans from PC security and utility software providers to education and entertainment services to PC OEMs and ISPs.

Three Stage Media

Series B in 2006
Three Stage Media, Inc. provides online media and marketing solutions for the tradeshow industry. The company focuses on developing online event portals that serve as an online show guide, search engine, and event-planning interface for attendees. It offers eventLeads for tradeshow registration process; eventAds for display media placements within show portals, show-floor kiosks, and e-newsletters; eventVideo that enables users to place custom streaming video news station on supplier microsite within the online event portal; eventMobile, which enables users to connect with on-site attendees; and eventMetrics for pre- and post-show performance reports. The company also provides eventPortal, an online show portal equipped with search engine, attendee event-planning interface, and comprehensive supplier directory; eventMarketing for lead generation, online advertising, search engine marketing, video advertising, and mobile marketing; and eventMetrics that provides data highlighting existing exhibitor performance and the opportunity afforded prospective exhibitors. It serves show organizers, exhibitors, and attendees. Three Stage Media, Inc. was formerly known as BDMetrics, Inc. and changed its name in January, 2009. The company was founded in 2001 and is headquartered in Baltimore, Maryland.

Qmobile

Series B in 2005
Qmobile is one of the service providers in the emerging digital media industry. Launched in 2003 and leveraging the founding team's deep domain knowledge, Qmobile has delivered compelling entertainment and information services to almost one million mobile phone users across the US, and now has over 350,000 subscribers. The company currently offers downloadable ringtones, wallpaper images and games. It also runs a SMS chat service, and additional services are under development.

Smart System Technologies

Series A in 2004
Smart System Technologies provides merchants with cashless and contactless payment and marketing analytics services. It is based in Irvine, California.

Mobile 365

Series D in 2004
Mobile 365 is the new company formed from the merger of the two leaders in the mobile messaging world: InphoMatch, the leader in interoperable data and messaging services for mobile operators, and Mobileway, the leader in messaging solutions for brands and content providers. It is the global leader in the delivery, billing, and settlement of mobile messaging services. Their extensive footprint enables us to reach more mobile users—with more types of mobile data—than anyone else on the globe. They reliably deliver messages, premium content, and value-added services for the leading mobile operators, content providers, brands, and media companies worldwide.

Appforge

Series B in 2003
AppForge develops products and services for the mobile and wireless industry. Its product portfolio includes CrossFire, a software tool simplifying mobile applications for Symbian, Windows Mobile, RIM BlackBerry, and Palm OS. Crossfire was a software plugin for Visual Basic 6 and for Microsoft Visual Studio .NET. AppForge is based in Atlanta, Georgia.

iMove

Venture Round in 2002
iMove, founded in 1995 and headquartered in Portland, Oregon, specializes in developing visual-scanning hardware designed for mission-critical security and surveillance applications. The company focuses on creating immersive imaging technologies that enhance surveillance systems, enabling timely, accurate, and actionable decision-making in security operations. iMove's innovative solutions cater to the growing demand for advanced visual technology in the security sector.

Yottabyte NetStorage

Venture Round in 2001
The Yottabyte NetStorage Company.

CODEON

Series D in 2001
CODEON Corporation designs and manufactures state-of-the-art optical components for the fiber optic telecommunications industry.

Pivotech Systems

Venture Round in 2000
Pivotech is a provider of multi-service access platforms for the service provider community.

CODEON

Venture Round in 2000
CODEON Corporation designs and manufactures state-of-the-art optical components for the fiber optic telecommunications industry.
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