Augment Ventures made its third investment last week since launching out of Ann Arbor nearly two years ago.
The venture capital firm participated in the $2 million Series A investment in Mercatus. The California-based start-up offers origination and syndication management technology for the energy project finance industry, helping investors make asset-class portfolio decisions.
Mercatus, formerly SCS Renewables, has assessed over 3.2 GW of solar projects, while enabling $250 million in investments and transactions. It currently serves more than 40 percent of the U.S. commercial and utility solar markets.
"It's solving a pain point in energy generation solutions across the board," says Sonali Vijayavargiya, founder & managing director of
Augment Ventures.
Augment Ventures and its team of three people specialize in making investments in start-ups in the clean-tech/sustainability sector. It has made three investments so far, including in downtown Ann Arbor-based LLamasoft last year.
"We anticipate making two more investments this year," Vijayavargiya says. "We are evaluating a number of opportunities from Michigan.
Source: Sonali Vijayavargiya, founder & managing director of Augment Ventures
Writer: Jon Zemke
Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.
Enjoy this story?
Sign up for free solutions-based reporting in your inbox each week.