Gener8tor’s Minneapolis Seed Fund Is Happening

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Gener8tor, the WI-based accelerator that expanded into Minneapolis last year, is making true on their word to raise a Minnesota seed fund focused largely in part on early stage tech.

Minnesota’s Managing Director Eric Martell says that gener8tor Minnesota Fund 1, LLC is currently supported with 710k of a $1.5m ceiling, corroborated by a recent SEC filing.

Gener8tor began planting seeds in Minnesota last fall with “gBETA”, a pre-accelerator program centered around basic education, mentorship and networking for early stage founders, graduating three tech startups from an initial class of six.

During that time, the gener8tor also signaled intentions of their next step as a full on accelerator similar to what has played out for years in Wisconsin — a true equity investment and immersive scenario like traditional accelerators/incubators operate.

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That was, at the time, subject to capitalization and involvement from various local angel investors/limited partners to get behind the plan. Martell says the capital committed to date ensures that the first cohort class of 5-6 nascent companies is thoroughly funded, while also setting the stage for the next one.

Gener8tor had been simultaneously raising their funds while running an open application window for startups to consider participation in the first cohort this summer/fall period.  In addition to the fundraising traction for gener8tor, Martell says their team has conducted roughly 150 interviews based on applications that since boiled down a handful of offers fresh out on the table for 5 specifc startups to consider and confirm their involvement in the first accelerator class, which is scheduled to start early next month.

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