Dundee on the hunt in Minnesota


Dundee Venture CapitalOmaha investment firm Dundee Venture Capital has a growing appetite for midwest startups — including those found in Minnesota — founder Mark Hasebroock says without any hesitation.

The entrepreneur turned investor has raised a $15m second fund which has already deployed approximately $3m in six companies between Omaha, Austin, Boulder, Chicago and Kansas City, noting that E-commerce and SaaS are where the Dundee sweet spot lies.  Sound familiar?

Mark HasebroockHasebroock co founded Hayneedle.com (formerly Netshops, Inc.) in 2002, and continues to serve on the board of what has grown a 300+ storefront e-commerce conglomerate; before Hayneedle, he served as an investment banker with McCarthy & Co. for thirteen years.

“I know it’s hard to find capital when you’re starting…we look at milestones and like to invest quickly, or not at all. I’ve been there and done it.  As an investor, we have a ton of respect for the time and best interests of the entrepreneur.”

Dundee will invest as little as $50k up to $2.5m into “a great co founding team (sales + development) willing to go all in on their dream,” a gut feeling he can get within the first five minutes. “You can run the numbers and do some market analysis, but some people you just know have the ability to make it work.”

That sentiment echoes the words of local VC Jeff Hinck, who also bets on the jockey.

“Moving to Omaha is not a requirement for consideration or funding,” Hasebroock says scoffing at the notion. “That’s one perk of being in Omaha, everything in the middle is a quick flight or even drive away.”
KC Associates