Heritage Group Launches Corporate Venture Arm

The Heritage Group (THG) launched HG Ventures, a new corporate venture arm with the capacity to make game-changing investments that will position THG for future growth and business line expansion. Although not structured as a venture fund of specific size, the magnitude of investment activity for HG Ventures is expected to reach $50 million per year within a short time after launch.

Focused on early and growth-stage opportunities but with flexibility to invest at any stage across the venture capital spectrum, HG Ventures will seek to leverage The Heritage Group’s long history of innovation in infrastructure, materials, energy and environmental services. This is a major new initiative for The Heritage Group, designed to position the company for growth and alignment with THG’s operating units, customers, and partners. In addition to providing funding, HG Ventures will provide portfolio companies with guidance, contacts and partnership opportunities during the launch phases of their businesses.

“The Heritage Group has a long history of developing innovative solutions for its customers, and HG Ventures will further catalyze this entrepreneurial culture,” said Amy Schumacher, President of The Heritage Group. “Our aspiration for the new venture arm is to bring THG’s spirit and experience, at scale, to a much broader range of early-stage companies and opportunities.”

HG Ventures will operate out of the New Ventures Group, THG’s newest division. The New Ventures Group will support innovation and new business creation internally and externally. New Ventures will be led by nationally recognized entrepreneur and investor Kip A. Frey, who joined The Heritage Group after serving as Vice Provost for Innovation and Entrepreneurship at Duke University. Prior to his role at Duke, Frey was a venture capitalist and entrepreneurial CEO for multiple startups.

“When first approached about joining The Heritage Group, I was struck by its incredible legacy of innovation and entrepreneurship,” said Frey, whose title will be Executive Vice President, New Ventures. “The Heritage Group crafts groundbreaking customer solutions every single day, and HG Ventures will supercharge innovation across the organization. I could not be more excited to join the THG team.”