The 2017 Minnesota Tech Funding Halftime Report

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dundee research underwriterAt least 55 different Minnesota technology ventures received a combined $250m of investment capital during the first half of 2017 according to information collected and analyzed from January 1 – June 30, 2017.

This research underwritten by Dundee Venture Capital provides our readers with unparalleled details that surround the funding facts of Minnesota’s tech industry.

It’s compiled from multiple sources as proxy of local 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 included; therefore the actual figures are higher, although unknown.

Q1 Capital Review showed 22 for $51mQ2 Capital Review showed 33 for $198m

For comparison, Q1 + Q2 2016 reflected 61 unique companies and $168m (-10%, + 49%)

Top Ten Rounds so far 2017:

Company Amount
Bright Health $160,000,000
NetGain $25,000,000
Atavium $8,650,000
Foodsby $6,000,000
LogicStream Health $6,000,000
Ambient Clinical Analytics $5,400,000
Sansoro Health $5,200,000
Prevent Biometrics $3,800,000
Inspectorio $3,700,000
Jump Technologies $3,500,000

 

HealthTech, IoT, SportsTech, Security were the key clusters by number of deals:

 

 

B2B sales/distribution accounts for 3/4 investees

Investment by stage:

 

Investment Groups/Funds involved with Minnesota tech from the year so far:

 

701 Angel Fund
Alternate Health Corp
Bain Capital Ventures
Bessemer Venture Partner
Black Granite Capital
Bluff Point Associates
Bridge Investment Group
Brightstone Venture Capital
Corazon Capital
Correlation Ventures
Cross Creek Advisors
Dundee Venture Capital
Flare Capital Partners
G-Bar Ventures
Gopher Angels
Greenspring Associates
Greycroft Partners
Grotech Ventures
Loup Ventures
MatchStick Ventures
Mergelane
New Enterprise Associates
Next Frontier Capital
Noro-Moseley Partners
Origin Ventures
Rally Ventures
Redpoint Ventures
Royal Street Ventures
Sandalphon Capital
Sofia Fund
Techstars Ventures

Active corporate investors so far in 2017:

  • Target
  • Mayo Clinic
  • Upstream
  • Optum
  • Allianz Life
  • Best Buy
  • Blue Cross

Looking for more? Leave a comment or email us info@tech.mn

Comments

  • https://www.linkedin.com/in/schornack Andy Schornack

    I noticed there were two “FinTech” categories. Were they different uses?

    • http://tech.mn Jeff Pesek

      Hi Andy, good eye, looks like a typo, same thing – one has cap T other has low t

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