Is this a sentence fragment?
Derailed by miscommunication and a lack of funding, Grayson and Erik's new business venture.

 - yes
 - no
This is a sentence fragment. It does not express a complete thought.
Derailed by miscommunication and a lack of funding, Grayson and Erik's new business venture.
Here is one way to fix the sentence fragment:
Grayson and Erik's new business venture has been derailed by miscommunication and a lack of funding.