South Dakota angels have eyes for Minnesota tech startups

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A newly formed out-of-state angel fund called Two Bridges Capital is increasingly seeing investment opportunities in and around Minnesota’s many tech startups, according to due-diligence chair Ben Hanten.

Administered by Enterprise Institute, the Brookings-based fund has pooled $1m from 17 different South Dakota angel investors with the objective of “supporting upper-Midwest entrepreneurs through capital and counsel,” he says, adding that “We’ve already met some Minnesota tech companies and would like to know more.”

That theme echoes previous sentiments made by Arthur Ventures out of Fargo, North Dakota, who have noted that as much as 40% of their dealflow comes by way of Minnesota. Three Minnesota tech startups are known to be a part of the AV portfolio, including Workface, Preventice and Hardcore Computer (recently relaunched as LiquidCool Solutions).

Two Bridges has only made one investment since Q2 inception, that being niche content venture GunUp, which will be relocating from Seattle to South Dakota as a result.

Hanten suggests that Minnesota tech entrepreneurs seeking first round capital contact him directly or connect at the Wire Me Awake conference happening in Yankton, South Dakota on October 4th.  Inspired in part by Big Omaha, Wahooly’s Dana Severson will be representing Minnesota as event emcee.
KC Associates

Comments

  • http://twitter.com/ThompsonAder Thompson Aderinkomi

    This is awesome to know. So much attention around deal flow is on SF and NY. This is evidence that MN start-ups can get interest from investors without following the hype.

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