Q1 2013 Capital Review: Minnesota tech ventures raised $28m+

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pile-of-moneyAt least 24 Minnesota tech ventures raised in excess of $28 million dollars in the first quarter of 2013, according to information collected and analyzed from Jan 1 through March 31, 2013.

The data includes on the record activity compiled from multiple sources and actual numbers are estimated to be 20%+ higher according to investors who are not inclined to disclose their investment activity publicly. While imperfect, it’s a solid proxy of current local funding activity and trends — considered a worse case scenario.

As a comparison — in Q1 2012, 24 companies raised $58.6m, heavily skewed by one anomalous $52.5m deal; a more balanced comparison would be that 23 companies raised $6.1m in Q1 2013. The largest deal of Q1 was UpdateLogic ($10.9m), followed by Cachet ($7.9m) and Conservis ($1.46m).

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Updated: 19 Minnesota Tech Ventures Raised $35m in Q2 2011

by Zach Robins

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Minnesota-tech-fundings

According to our 2011 second quarter analysis, at least 17 19 early stage Minnesota technology firms received investment capital during April, May and June.

 

Updated 8/4/11: Three additions to our Q2 2011 Minnesota tech investment analysis:

Roughly $26.5m $35m in funding was attributed to Minnesota’s high tech sector, largely skewed by health IT firm Ability Network’s $20m round $27m round.  Ability’s raise was the largest tech deal Minnesota has seen since January 2010, when Cymbet raked in $31m for thin film rechargeable batteries. The remaining 16 18 startups raised roughly $6.5m $8m combined, for an average round of $405k $445k.

When contrasted against last quarter’s analysis, both the number of transactions (-15%) (-10%) and the aggregate funding volume are down (-30%) (-8%), although the average deal size is up slightly.

This analysis supports the full spectrum of financing ($25k+), regardless of stage or definition (angel, seed, series A etc.) and many startups are currently fundraising. While we attempt to compile the most complete set of data, it remains imperfect as unreported transactions occur.

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Over $60m Raised by Minnesota High Tech Ventures in 2010

by Zach Robins

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moneytreeDespite a year’s worth of articles bemoaning the condition of U.S. venture capital investing (see here and here and here), venture capital firms invested $21.8 billion nationally in 2010 (3,277 total investments), according to the National Venture Capital Association & PwC’s annual MoneyTree report.

This represents a 19% increase in dollars invested over 2009.

Minnesota’s 2010 story ends quite differently. Cross-sector startups raised a collective $140 million, marking a 48% drop from 2009, and the lowest Minnesota amount since the MoneyTree reporting began 15 years ago.

For 2010, TECHdotMN documents 42 unique high tech deals (IT, SaaS, web/mobile, digital media, hardware, telecom), totaling in excess of $60m invested in Minnesota-based technology companies throughout last year. Excluding Cymbet’s $31m round, 36 different ventures raised approximately $30m combined in 2010, or $857k per average round, according to the data.*

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