Episode
The Water VC You Can't Name (How HG Ventures Deployed $48,523,663 in Water Tech)
- Published
- Jun 3, 2026
- Duration seconds
- 3672
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Summary
How did HG Ventures quietly become one of the most active water tech investors on the planet, without even calling itself a water VC? HG Ventures is the corporate venture capital arm of The Heritage Group, a 100-year-old, family-owned Indianapolis conglomerate active in asphalt, quarries, environmental services and specialty chemicals. With $350M in assets, the fund deploys around $50M a year across 41 portfolio companies and 7 sectors, and ranks 5th globally in water tech by deal count despite water being only 18% of its thesis. Ginger Rothrock holds a PhD in chemistry from UNC Chapel Hill, co-founded the NASDAQ-listed pharmaceutical company Liquidia, was promoted to Managing Director of HG Ventures in December 2025, and is a Global Corporate Venturing Rising Star and Kauffman Fellow with deep expertise in industrial water, industrial wastewater treatment, and corporate venture capital in cleantech. 🌶️ KEY SPICES 🌶️ 🏗️ How a 100-year-old asphalt-and-quarries empire ended up running one of the most active water tech portfolios on the planet 🧪 Why a PhD chemist with 75 R&D scientists down the hallway puts technology last, and storytelling first, when she evaluates water tech founders 💧 How HG Ventures built its industrial wastewater treatment, industrial water reuse and zero liquid discharge thesis from the inside out ⚡ Why a 4-person investment team and a 2-month decision cycle out-deal-flow every other corporate venture capital fund in the water industry 🎯 Why Ginger Rothrock calls the water industry "inevitable", and how HG Ventures is positioning for the next decade of water tech exits 🥜 IN A NUTSHELL 🥜 Who are the biggest water tech investors and venture capital firms in 2026? The most active water tech investors by deal count are Burnt Island Ventures, Echo Ri…