At least 87 Minnesota tech ventures fundraised in excess of $145 million dollars last year, according to information collected and analyzed from Jan – Dec 2012.
The data includes on the record deals, whereas the actual numbers are estimated to be 25%+ higher according to many active investors who are not inclined to disclose their investment activity publicly.
Nonetheless, it’s a solid proxy of the local funding market activity and trends. As a comparison — in 2011 63 ventures raised $126m and in 2010 that figure was around 42 / $60m. There’s less of an “innovation contraction” in Minnesota and more of vibrant market for startups and investors, according to the facts.