Q3 Capital Review: 17 Minnesota Tech Ventures Raised ~$8m


RedPath ContentIf Twin Cities Startup Week was the emotional high of Minnesota tech this fall, the precipitous drop of actual investment dollars for local tech entrepreneurs is a sobering reality.

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.

+Seth Levine and Brad Feld made it to Minneapolis

+Then Dundee the VC from Omaha, Nebraska, came into town and stayed.

+The Minnesota Vikings investment arm reaches out to Israeli startup WSC Sports

+Speaking of corporate VC, Medtronic doubles down on Mazor Robotics, also in Israel

+AV’s newest Partner makes his debut with Cybrary

+Data Crossover is thinking big for Minnesota

+Perk Health defines the road show

+MNstarter’s crowdfunding panel suggests we’re closer to actual equity crowdfunding in Minnesota?

+Investors asking investors questions on our TECHdotMN Talk podcast

+There are still about $3m in tax credits available for FY 2016

+Biz Stone and the Pohlad’s believe Polaroid’s Swing App will be a bright chapter in the company’s tome

…and now onto the 17 companies and their respective fundraises; if we missed anything please leave a comment and a source.