Minneapolis VC Coral Group leads on SugarSync’s latest round

Coral GroupMinneapolis venture capital firm Coral Group is the lead investor ($6.5m) in SugarSync’s $15m series D round, as reported yesterday.

The San Mateo-based company provides data sync and backup across desktop computers, laptops and mobile devices.

Existing investors Draper Fisher Jurvetson, Sigma Partners, Hatteras Venture Partners and Hercules also participated in the round, which equates to total of $50m since 2004 inception. Senior Managing Director Yuval Almog, who founded Coral in 1990, will join SugarSync’s Board of Directors.

Coral invests technology companies with a particular interest in the communications, software, enterprise computing and media sectors. They have raised $500m and invested in over 100 companies in the United States, Israel and Europe.

The firm has made some Minnesota investments over the decades — Go2Call, Optical Solutions, GearWorks, Prodea — and saw some liquidity in mid-2010 when Iconoculture was purchased by Corporate Executive Board.

“We’re always looking for the best deals, wherever they are found,” said Managing Director Chris Smith.