Tech VC ICON Venture Partners changes name to Rally Ventures


Rally Venture PartnersICON Venture Partners — the $100m fund launched in 2013 — has changed name to Rally Ventures after selling the ICON brand.

“Rally Ventures does a better job of conveying our primary differentiator — which is our tech partner network that we leverage for our companies,” says General Partner Jeff Hinck.

Led by Hinck (MN) and Charles Beeler (CA), Rally Ventures also provided a portfolio update for 2014, during which the firm made ten investments (not counting follow on like Sport Ngin); three of which came via Hinck out of the Minnesota office:

  • Elevate (MN), a SaaS application that allows retailers and restaurants immediate feedback from real customers in order to improve the customer experience
  • Cloud Elements (CO), a cloud API integration service that enables SaaS application developers to rapidly deliver apps that connect seamlessly with other leading cloud services
  • Kapta (CO), a cloud application that provides executives an easier way to communicate, align and track company initiatives and performance in real time


Rally invests exclusively in early-stage B2B technology companies, focusing on big data, cloud technologies, infrastructure software, mobility, IoT, SaaS, security, and storage. Hinck and Beeler have been co-investing since 1997 (Vesbridge, El Dorado), while successful exits of Minnesota-based startups include Compellent (acquired by Dell subsequent to IPO), Enstratius (acquired by Dell), NuSpeed (acquired by Cisco) and Sistina (acquired by Red Hat).


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  • Bob

    Is this arrangement a sale? No other articles seem to claim the same.

    • Jeff Pesek

      Per Jeff Hinck there was a transaction with another party