Iowa’s first multi-stage venture capital fund
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Eric Engelmann
General Partner
eric@isaventures.com
319-214-0122
ISA Ventures and Iowa Farm Bureau's Rural Vitality Fund Co-lead $6.5 Million Investment in Gross-Wen Technologies
August 9, 2021
FOR IMMEDIATE RELEASE
Cedar Rapids, Iowa — ISA Ventures and Iowa Farm Bureau’s Rural Vitality Fund co-led a $6.5 million Series A investment in Gross-Wen Technologies, along with Next Level Ventures, Mid-American Angels, Ankeny Angels, Ag Startup Engine, Oman Ventures, and 1330 Investments. Gross-Wen Technologies has a patented wastewater treatment technology that uses algae to clean wastewater.
“We’re proud to invest in this groundbreaking company and its technology, led by an exceptional team, to accelerate Gross-Wen Technologies’ growth in Iowa,” said Eric Engelmann, general partner at ISA Ventures.
Today, many municipalities and industries are looking for new solutions to meet stricter federal water quality requirements cost effectively. Gross-Wen’s patented revolving algae biofilm allows both municipalities and industries to retrofit current treatment plants, addressing nutrient management issues in an economical and sustainable way. The company’s byproduct, algae biomass, can then be packaged and sold as slow-release algal fertilizer or bioplastic.
“There is a tremendous opportunity for sustainable water treatment technologies. This funding will provide GWT the capital to grow our existing presence in Iowa and the Midwest and provide us the resources to develop new markets across the US,” shared Dr. Martin Gross, co-founder and president of Gross-Wen Technologies. “We are thrilled to add ISA Ventures, Rural Vitality Fund, and Next Level Ventures as our newest shareholders at GWT. These firms represent the top venture capital firms in Iowa and we look forward to their guidance as we expand our business.”
The Gross-Wen team will join ISA’s Expansion accelerator program, focusing on pathways towards acquisition and support through their entrepreneurial journey.
About Gross-Wen Technologies
Gross-Wen Technologies is an Iowa-based company working to solve one of the world’s largest
problems, water quality. The company was founded in 2014 by Dr. Martin Gross and Dr. Zhiyou
Wen and is based on a technology they developed at Iowa State University. The algae system
is capable of cost-effectively recovering nitrogen and phosphorus from wastewater.
For more
information: algae.com
About ISA Ventures
ISA Ventures is the first multi-stage venture capital
in Iowa. Located in Cedar Rapids, the fund invests up to $1 million in early-stage, rapid growth, and later-stage companies, positioning them for growth and exit. Its professional management team vets deals across all industries, with a preference for technology companies in biotech, healthcare, education, engineering & automation, agriculture, food & bioprocessing, insurance & finance, and transportation & logistics.
For more information, visit us at isaventures.com
About Iowa Farm Bureau's Rural Vitality Fund
Rural Vitality Funds are an effort led by the Iowa Farm Bureau Federation and done in
partnership with Wellmark Blue Cross Blue Shield of Iowa and other stakeholders focused on
providing financing resources to businesses that positively impact rural communities
throughout Iowa.
For more information: http://programs.iowafarmbureau.com/RRI/funds.html
About Next Level Ventures
Next Level Ventures is a venture capital firm that invests in growing companies based in
Iowa, with investments ranging from $0.5 million to $5 million for a minority ownership
position.
For more information: nextlevelvc.com
This press release is not an offer to sell any securities of the ISA Ventures Fund, LLLP or Gross-Wen Technologies, Inc., nor a solicitation of an offer to buy. This press release is a description of certain limited aspects of the Fund and Gross-Wen Technologies and is not intended to be an exhaustive or comprehensive discussion. Certain statements in this press release may be “forward looking statements” that are subject to change, and actual future results may be materially different from what the Fund or Gross-Wen Technologies expect. Investments in venture funds and early stage companies are subject to substantial risks and are only appropriate for sophisticated investors who can understand and bear those risks.