Kip Frey is executive vice-president for New Ventures at US-based company The Heritage Group and managing partner for its corporate venture capital arm, HG Ventures.
Since its formation in 2018, HG Ventures has invested more than $65m in hardtech startups and now has a portfolio of more than twenty companies. HG Ventures was created to drive innovation and growth by investing in private companies and new technologies in THG’s core industries of environmental services, speciality chemicals, and transportation construction and materials.
Frey said at the time of the unit’s launch: “When first approached about joining The Heritage Group, I was struck by its incredible legacy of innovation and entrepreneurship. The Heritage Group crafts ground-breaking 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.”
HG Ventures invests in early and growth-stage companies developing advanced materials and systems for transportation infrastructure, environmental services and speciality chemicals. It can generally invest up to $20m in each portfolio company, but can up the cheque size if there is a strategic fit.
The HG Ventures team members are vice-president John Glushik, senior director and GCV Rising Star Ginger Rothrock, director Jonathan Schalliol, associate Ashlyn Myers and senior administrator Sarah Minnick.
HG Ventures’ portfolio companies include Epogee, a cutting-edge fat substitute in the food industry, electric vehicle power system developer Romeo Power Technology, and 120Water, which creates a cloud software platform that facilities the provision of water infrastructure.
In 2020, HG Ventures invested in manufacturing technology developer Ateios, chemical additive creator Mito Material Solutions and additive manufacturing technology developer Equispheres.
HG Ventures also oversees the Heritage Group Accelerator, powered by Techstars, which brings ten early-stage and early-growth companies to The Center, THG’s state-of-the-art R&D facility in Indianapolis, Indiana. HG Ventures provides the startups with funding, mentors, and access to technical expertise to develop and refine their business plans.
Prior to joining THG, Frey served as the vice-provost for innovation and entrepreneurship and professor of law and public policy at Duke University. He practised intellectual property law before joining Turner Broadcasting System where he contributed to the acquisition of Castle Rock Entertainment, the formation of the Cartoon Network and the construction of the MGM Grand Hotel.
He has served as CEO of several startups and as a partner at venture capital firm Intersouth Partners. Frey is a Phi Beta Kappa graduate of the University of Southern California and of Duke Law School, where he served on the Duke Law Journal.
