New Houghton-based venture firm 1885 Capital launches with first investments

MARQUETTE -- Upper Peninsula-anchored 1885 Capital has officially launched, the first rural-based venture firm founded in the United States since 2018.

The early-stage firm invests in high-growth technology companies across four sectors: industrial technology, enterprise software, advanced materials and sustainability. The firm announced its first two portfolio investments, Bloom, a platform connecting mobility, energy and robotics companies with vetted supply chain partners; and Grw AI, an AI teammate that builds and manages sales operations.

With first checks ranging from $100,000 to $500,000, the funds are meant to offer founders both traditional and alternative forms of venture capital. 1885 Capital's establishment was supported by an Economic Development Administration Build to Scale Grant, with matching funds from the Michigan Economic Development Corporation, awarded to Michigan Technological University.

1885 Capital adds an important piece to the startup ecosystem, especially in a region like the U.P., by putting more early-stage capital closer to the founders, technologies, and industrial strengths already developing here