Iron Prairie Ventures announced it has raised a $15 million fund focused on pre-seed and seed-stage investments in startups fueling the industrial sector’s digital transformation. This fund will support companies in developing innovative solutions across the construction, manufacturing, infrastructure, logistics, and supply chain sectors.
This fund launch comes at a major moment for the American industry. And Iron Prairie Ventures aims to support startups in building solutions that enhance productivity and efficiency across these traditional sectors.
Iron Prairie Ventures brings 25 years of industry experience to early-stage investing. Before founding Iron Prairie, founder and GP Maggie Kenefake backed 33 startups focused on innovation at Portfolia and Royal Street Ventures. Iron Prairie’s limited partners include corporations, family offices, and high-net-worth individuals with deep industry expertise.
Iron Prairie Ventures plans to invest in about 25 companies, with initial investments ranging from $250,000 to $650,000. Portfolio companies will benefit from Iron Prairie’s strategic relationships with Fortune 1000 corporations headquartered in the Midwest, capitalizing on the region’s industrial strengths and longstanding expertise in manufacturing and logistics.
The fund has already invested in 14 promising startups, including:
— Arvist, a Chicago, IL-based developer of autonomous systems for warehouse operations.
— Bastazo, a Fayetteville, AR AI-driven cybersecurity platform focused on remediation for operational technology.
— SysGit, a Los Angeles, CA-based engineering design platform, enables agile development through Git-based workflows, open standards, and seamless integration for designing complex systems.
— Agloma, a New York, NY-based technology company automating feasibility and design for real estate development, lowering costs and increasing efficiency.
KEY QUOTES:
“Now is the perfect time to invest in America’s reindustrialization. The shift towards domestic production, coupled with advances in artificial intelligence (AI) and automation, is creating a once-in-a-generation opportunity for investors. Iron Prairie is uniquely positioned to capitalize on this moment, thanks to our extensive network of industry relationships and a strong understanding of the sector’s challenges and the opportunities needed to revitalize American industry.”
– Founder and GP Maggie Kenefake
“Maggie’s industry expertise and vision for revitalizing the industrial base make Iron Prairie Ventures a standout in early-stage investing,” said Jeff Placek, CFO McCownGordon. “Her strategic guidance and network empower startups to thrive. We’re excited to support this fund and the industrial transformation it’s driving.”
“Iron Prairie Ventures isn’t just an investor, but they truly understand the complexities of building an industrial start-up. Maggie’s experience and network in the Midwest industrial ecosystem have been instrumental in helping us scale and navigate the unique challenges we face scaling our business. We’re proud to be part of her mission to drive innovation in America’s industrial heartland.”
– Nilay Parikh founder and CEO Arvist
