Early-stage venture capital investment company Huron River Ventures Partners has reached a close on its maiden fund, Huron River Ventures I worth $11 million. The private equity firm, which was formed in 2011, targets start-up tech firms with goals to address the industry's rapid growth. The company, headquartered in Michigan, capitalizes on solution-based companies geared towards efficient usage of transportation infrastructure, energy and agriculture.

"After studying and investing in these sectors for nearly two decades, I believe the opportunity is greater than ever for innovative solutions to address these global challenges," said Ryan Waddington, Huron Riven Ventures I's Managing Director. "Blessed with an abundance of technical talent, supportive infrastructure, and a great work ethic, we see entrepreneurs in Michigan and the Midwest emerging as leaders in developing these solutions," he continued.

Tim Streitm another Managing Director of the fund, said that they "created a venture fund for one reason: to help entrepreneurs change the world as they bring their ideas to life."