Grand Ventures raises $28m

The US-based private equity firm closes debut fund below target.

Grand Ventures has closed its debut fund, Grand Ventures Fund I, at $28 million. The fund was first launched in 2017 with a target size of $50 million, according to an SEC filing.

Grand Ventures targets seed and early-stage enterprise SaaS businesses in Midwest America as well as in other “emerging geographies” within the US and expects to invest in 15 to 20 companies from this fund.