Facts ruled feels in Q3 2016 when at least 17 Minnesota tech ventures experienced a cumulative ~$8m in backing, according to information collected and analyzed from July 1, 2016 – September 30, 2016.
This is the lowest quarterly figure since 2009, when ws began tracking such investment activity within Minnesota’s tech sector.
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.
Let’s take a look at just what happened in Q3 2016:
+The big wildcard is what Modus Engagement (formerly AppDataRoom) captured, a number not disclosed at the request of CEO Orrin Broberg. Fair enough, though even if that figure were ~$10m rough guess, the total raised in Q3 would still be unusually low with respect to history.
…and now onto the 17 companies and their respective fundraises; if we missed anything please leave a comment and a source.