NEWBURGH - A City of Newburgh shrimp farm has gotten a financial boost from the first investment made by the Hudson Valley Startup Fund.

The fund has committed to invest up to $175,000 in Eco Shrimp Garden LLC, which produces Pacific White Shrimp at what was a mattress factory in the city’s historical district.

Eco Shrimp owner Jean-Claude Frajmund opened the business at 99 S. William St. last year, touting growing methods that employ no chemicals, preservatives or hormones. The business has operated with both retail sales on site and wholesale to restaurants.

The startup fund has 44 members who aim to invest in Hudson Valley companies with high-growth potential. Tony DiMarco, the fund's founding manager, said the investment in Eco Shrimp took the form of a convertible promissory note with accruable interest.

"Typically, we expect this investment to convert to equity as future milestones are achieved," DiMarco said in an email.

Entrepreneurs interested in being considered for investments can go to info@hvstartupfund.com.