Investors / United States / HG Ventures
HG Ventures
Venture capital · Indianapolis, IN, United States · North America
HG Ventures is a venture capital firm that invests in entrepreneurs modernizing the industrial economy, and it is affiliated with The Heritage Group, a family-held industrial enterprise. It helps portfolio companies through introductions to customers, technical partners, and pilot opportunities within The Heritage Group's operating businesses.
Invests inIndustrial & Manufacturing
In its own wordsindustrialinfrastructureconstructionclean energycritical materialsresource recovery
Your fit with HG Ventures
Four questions about your startup
See how your round matches what it backs, point by point.
Or find every investor that fitsHG Ventures lists 39 checked portfolio companies on its own site and is named in 3 funding rounds, 3 of them as lead. Its most frequent entry is Seed, 50% of the companies with a known first round. Its largest themes are Industrial & Manufacturing (30%), AI & Machine Learning (11%) and Space & Defense (10%). 69% of its companies are based in United States. It invests most often alongside Techstars, Imagine H2O and Elevate Ventures.
Counts come from funding rounds that name HG Ventures, complete from mid-2025: earlier rounds appear only when they were reported later. Round amounts and full round histories are on Fundup AI.
Round figures show recent activity, not HG Ventures' whole history. Rounds on record name 3 companies; its own site lists 39. Funding rounds are complete from mid-2025, so counts and the yearly trend undercount a firm that invested before then. The portfolio, themes and places come from its own site and are not affected.
Entry stage
share of companies by the stage of its first roundShow as a table
| Value | |
|---|---|
| Pre-seed | 0% |
| Seed | 50% |
| Series A | 50% |
| Series B | 0% |
| Growth | 0% |
Activity by year
rounds it joined, last 10 yearsShow as a table
| Total | Rounds it led | |
|---|---|---|
| '17 | 0 | 0 |
| '18 | 0 | 0 |
| '19 | 0 | 0 |
| '20 | 0 | 0 |
| '21 | 0 | 0 |
| '22 | 0 | 0 |
| '23 | 0 | 0 |
| '24 | 0 | 0 |
| '25 | 1 | 1 |
| '26 | 2 | 2 |
Investor profile
percentile among all firmsShow as a table
| Measure | Percentile of all firms | Value |
|---|---|---|
| Portfolio size | 76th | 38 companies |
| Recent activity | 69th | 2 rounds in 12 months |
| Early stage | 73th | 50% of entries at pre-seed or seed |
| Evidence | 64th | 5% of companies confirmed by a round |
| Sector focus | 52th | 30% in its largest sector |
| Reach | 78th | 5 countries |
Investment themes
share of its checked companiesThis firmAll checked companies
Show as a table
| This firm | All checked companies | |
|---|---|---|
| Industrial & Manufacturing | 30% | 7% |
| AI & Machine Learning | 11% | 18% |
| Space & Defense | 10% | 3% |
| Enterprise Software | 9% | 8% |
| Education | 9% | 7% |
| Healthcare & Biotech | 6% | 15% |
| Consumer | 6% | 3% |
| Food & Agriculture | 6% | 3% |
Invests most often with
firms sharing its portfolio companiesShow as a table
| Share | |
|---|---|
| Techstars | 9 |
| Imagine H2O | 6 |
| Elevate Ventures | 3 |
| Emerald Technology Ventures | 3 |
| At One Ventures | 2 |
| Burnt Island Ventures | 2 |
| DCVC | 2 |
| Elemental Impact | 2 |
Its portfolio companies
where they are based, and what their own sites showSite status
- Site answers39100%
- No longer answers00%
- Points to another company00%
- Parked or sold domain00%
A site that stops answering three checks in a row is counted as no longer answering; that is not proof of closure. A site that points to another company is often an acquisition.
Co-investor network
who it backs companies with, and who they back togetherCompare HG Ventures head to head
portfolio size, rounds, entry stages, themes and the companies both backThree or more firms at once: portfolio overlap.
Recent portfolio activity
when companies last raised with HG Ventures| Date | Company | Stage |
|---|---|---|
| 5 Feb 2026 | Round Led | |
| 25 Sept 2025 | Series A Led |
Round details for HG Ventures
Amounts, full round histories and every co-investor in HG Ventures' rounds are on Fundup AI. VCinfo covers investors and their portfolios.
Portfolio
39 companies checked against their own sites| Company | What it does | Themes | First round with it | Evidence |
|---|---|---|---|---|
| 120Water provides a data management platform for water quality and asset compliance | Healthcare & BiotechCybersecurity | Portfolio page | ||
| 6K Inc develops and uses UniMelt technology for advanced materials production | Industrial & ManufacturingSpace & Defense | Portfolio page | ||
| Aclarity destroys PFAS contaminants on-site with its Octa System | Industrial & ManufacturingEnterprise Software | Portfolio page | ||
| Ateios Systems supplies battery makers with high-energy, recyclable electrodes. | Mobility & LogisticsIndustrial & Manufacturing | Portfolio page | ||
| Avenew helps develop, finance, and sustain community assets, such as roads and bridges, using modern and efficient strategies. | Real Estate & ConstructionFintech | Portfolio page | ||
| Battle Motors manufactures severe-service trucks | Industrial & Manufacturing | Portfolio page | ||
| Bind-X provides biological dust control for mining haul roads, tailings storage facilities, and stockpiles. | Industrial & ManufacturingAI & Machine Learning | Portfolio page | ||
| Biosynthetic Technologies manufactures sustainable base oils using biobased synthetic compounds called Estolides | Industrial & ManufacturingConsumer | Portfolio page | ||
| Circulor provides digital product passports and supply chain traceability solutions | Healthcare & BiotechIndustrial & Manufacturing | Portfolio page | ||
| Currents operates an electric and hybrid vehicle battery marketplace and provides identification solutions | E-commerce & MarketplacesSpace & Defense | Portfolio page | ||
| The company sells protein shakes and bars. | Food & Agriculture | Portfolio page | ||
| Duality Robotics provides digital twin simulation for safe, predictable, and resilient smart systems | AI & Machine LearningRobotics & Hardware | Portfolio page | ||
| ElectraMet designs and deploys electrochemical systems for difficult semiconductor streams | Industrial & ManufacturingEnterprise Software | Portfolio page | ||
| Epogee develops and produces a fat replacement called EPG for use in food products. | Food & Agriculture | Portfolio page | ||
| Equispheres produces metal powders for additive manufacturing | Industrial & Manufacturing | Portfolio page | ||
| FREDsense makes water testing fast, affordable, and simple by providing PFAS testing services and products | Industrial & ManufacturingHealthcare & Biotech | Sept 2025Series A | Page + round | |
| Gauge provides fleet management and asset tracking solutions to help companies measure and improve operational efficiency | FintechIndustrial & Manufacturing | Portfolio page | ||
| INERATEC produces synthetic fuels and chemicals using carbon dioxide and hydrogen, and offers power-to-x plants and other products | EducationEducation | Portfolio page | ||
| Material Evolution develops and produces ultra-low carbon cement solutions for the construction industry | Industrial & ManufacturingSpace & Defense | Portfolio page | ||
| MITO Material Solutions develops and produces hybrid additives to improve the performance of materials such as fiber-reinforced composites and thermoplastics. | AI & Machine LearningAI & Machine Learning | Portfolio page |
About this data
site last read 5 Nov 2026- Site
- hgventures.com
- Last read
- 5 Nov 2026
- Watching since
- 6 Nov 2026
- Rounds since
- 25 Sept 2025
- Companies checked
- 39
Rates come from what VCinfo has observed since observation_start. Firms tend to remove companies that closed, so early rates understate reality. A company leaving a portfolio page does not mean it closed or exited. An unreachable site means our checks failed, nothing more.
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