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Mitch Black: Leading HG Ventures’ New Entrepreneur-in-Residence Role

Posted on by Joe Ball

Bringing Vision and Experience to New Entrepreneur-in-Residence Role


HG Ventures, the investment arm of The Heritage Group that partners with early stage to growth stage companies, recently appointed Mitch Black as the first-ever Entrepreneur-in-Residence (EIR). This new role highlights a fresh approach to venture investment, startup support and incubation within the company and represents a unique opportunity for both HG Ventures and The Heritage Group.

Traditionally, EIRs in venture capital are temporary leaders who step in to help startups grow or solve specific problems, often acting as interim CEOs or experts. Recently, though, the EIR role has changed. Instead of short-term help, EIRs are now seen as permanent team members, bringing ongoing value by advising, mentoring and supporting companies over the long term, helping them face different stages and challenges.

For The Heritage Group, this transformation in the EIR role aligns well with their New Ventures strategy, which centers around HG Ventures and their portfolio of investments. Founded in 2018, HG Ventures has made significant strides in supporting startups through investment and collaboration, focusing on innovation within and beyond The Heritage Group’s core markets. Over the past six years, the venture arm has invested in 35 companies, helping them develop transformative technologies.

As HG Ventures matures, their portfolio companies are evolving, each entering different stages of growth. This has led to a need for more structured and consistent mentorship, particularly for early-stage founders navigating complex growth phases. Mitch’s role as EIR will support this by providing hands-on guidance and commercial insights that complement The Heritage Group’s technical resources. His appointment represents an opportunity to deepen the support offered to portfolio companies beyond financial investment—by mentoring and advising on challenges that new and seasoned founders alike face.

For Mitch, this appointment marks a culmination of a career that has spanned a mix of entrepreneurial and executive experience that fits well with what The Heritage Group needs. He’s led several companies funded by venture capital and private equity, so he knows what it takes to grow a business from startup to successful company. While his background is in tech and software—different from The Heritage Group’s focus on hardtech—he sees this as a positive. His experience as a founder and leader gives him fresh ideas and practical advice, traits essential to the role he now holds. “I have found a lot more satisfaction in helping others through mentorship work over the years, and I decided this was the trajectory I wanted to take my career,” noted Mitch.

Mitch’s role as EIR represents an opportunity to elevate The Heritage Group’s venture ecosystem, as he supports HG Ventures and potential internal startup projects. His mission is to create value across the board, from mentoring young startups to advising growth-stage companies. This involves a broad range of activities—from helping companies refine their market strategies to advising on operational efficiency, financial planning, and positioning for exits. For him, success isn’t one-size-fits-all; it looks different for each founder and company. He aims to help businesses identify and pursue their unique paths to growth, ensuring that each leader he works with receives personalized, actionable guidance.

Ultimately, Mitch will serve as a bridge, connecting The Heritage Group’s technical expertise with the commercial insight and strategic direction needed for long-term success. “I have a lot of commercial experience, having been through the various stages in a business trajectory. I aim to be helpful to young entrepreneurs, challenging them to look at and think differently, so they refine their go to market strategy,” said Mitch.

This appointment is an exciting next step for The Heritage Group’s New Ventures division. It shows our commitment not just to funding innovation but to actively nurturing and scaling it through hands-on mentorship and strategic guidance. For Mitch, this role is a natural evolution, allowing him to leverage his years of experience to empower a new generation of entrepreneurs.

In the coming years, Mitch’s impact on The Heritage Group and its portfolio companies could set a new standard for how corporate venture arms support early- and growth-stage companies. His appointment underscores a growing trend in the venture world: that sustainable success requires more than capital. By bringing in leaders like Mitch, The Heritage Group is positioning itself as a valuable partner for startups, capable of offering both the financial resources and the mentorship required to help companies achieve their potential. For entrepreneurs within The Heritage Group ecosystem, this new EIR role may provide a crucial edge, offering them the tools and insights they need to thrive in an increasingly competitive market.

 

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A Week of Service, A Year of Impact

Posted on by Joe Ball

For almost a century, we’ve been dedicated to building stronger communities by tackling some of the most pressing needs. One way we do this is through our annual United for Service initiative, where we come together to fight hunger and make a meaningful difference for families across the country and beyond.

Hunger is an issue that affects every community, including here in the U.S., where about 34 to 37 million people—including 11 million children—face food insecurity. Food insecurity means not having consistent access to enough affordable, nutritious food. It might look like skipping meals, eating less, or relying on cheaper, less nutritious options. As Nick Reich, Executive Director of Pack Away Hunger, explained, “Food insecurity and hunger have a disproportionate impact on women and children. Through our partnership with The Heritage Group, we are able to help hungry residents of Central Indiana, especially during the holiday season.”

The success of United for Service wouldn’t be possible without our amazing partners who share our commitment to this cause. Pack Away Hunger, for example, relies on partnerships to pack and distribute nearly 1.5 million meals each year. “During their campaign, The Heritage Group packed just over 20,000 meals to support families in Central Indiana,” said Nick. “We literally couldn’t do the work, or have the impact, that we do without partners like them.”

This year’s campaign, which coincided with our 94th anniversary, was our biggest yet. Across 17 states, one Canadian province, and with more than 80 community organizations,1,119 Heritage Group volunteers worked together to make a real difference. Altogether, we contributed 1,845 hours of service, saving nonprofit organizations the equivalent of 230 days of payroll costs.

Over the past three years, our team has donated 4,456 hours to this initiative, resulting in thousands of meals packed, served and delivered to families in need. But the impact goes beyond the numbers. Volunteering brings our team closer together, offering employees the chance to collaborate with colleagues in new ways and strengthening connections across our businesses. It’s not just about giving back—it’s about growing together as a team while making a tangible difference in the places we live and work.

Heritage volunteers also play an essential role in the coordination of hunger relief, from preparing meals to delivering them. As Linda Broadfoot, CEO of Second Helpings, shared, “When companies like The Heritage Group bring volunteers to serve at Second Helpings, it helps us not only get food prepped and out the door but also builds the framework for future collaboration.”

United for Service is more than a hunger relief program—it’s a powerful example of what we can achieve when we come together. Through teamwork, community partnerships and a shared purpose, we’re helping ensure every family has access to nutritious food. As Amanda Borden, Vice President of Development at Eastern Illinois Food Bank, said, “We know the solution to alleviating hunger lies in the support of our community. Partnerships with companies like The Heritage Group make our mission possible.”

From the Midwest to the Gulf Coast, our Heritage family came together united in our fight against hunger. As we continue to look for opportunities to strengthen communities, we strive to shape a future where no one goes hungry and everyone has the opportunity to thrive.

What some of our hunger relief partners are saying:

 

Just some of the numbers of our United for Service efforts:

  • 20,000 Meals Packed: This year, volunteers joined Pack Away Hunger in Indianapolis helped prepare over 20,000 meals for families in Central Indiana. Midwest Food Bank, one of our distribution partners, picked up over 5,600 meals, ensuring that they reached food pantries and families in need by early January.
  • 207 Backpacks Filled: At Cultivate Food Rescue in South Bend, Milestone Contractors employees prepared 1,247 frozen meals. These were packed into 207 backpacks, ensuring children had reliable and nutritious food for their weekends.
  • 54 Kids Served: US Aggregates created take-home snack bags for 54 children who otherwise would have lacked access to healthy food during their winter break.
  • 1 million Meals Distributed: Our partnership with the Eastern Illinois Foodbank contributed to their ability to distribute over 11 million meals last year, including fresh produce for families across 18 counties.