At least 28 different Minnesota tech ventures received $122m of investment capital during the second quarter of the year according to information collected and analyzed from April 1, 2016 – June 30, 2016.
This research represents the most comprehensive ongoing tally of Minnesota’s tech sector funding quarter to quarter, year after year, spanning six consecutive years.
It’s compiled from multiple sources as proxy of market activity: crowdfunding, incubators/accelerators, angel investments, venture capital, corporate arm and private equity. Consider it a worse case scenario as there are always undisclosed transactions not fully factored, so the actual figures are higher, although unknown.
We give thanks to Redpath & Company CPA’s for underwriting this report that provides transparency into the marketplace.
So, what happened in Q2 2016?
+Comparatively — Q2 2016 was much larger than Q1 in terms of the aggregate raised. That’s because Bright Health did a number on the bottom line with their $80m A round in April; not factoring this skew, the figures are closer: Q2 – $42m raised & Q1 – $46m raised. This time last year, 40 unique companies saw $72m.
Here’s the complete data set for Q2 2016: