Last week, we published the Q1 2018 Minnesota Tech Funding Report, which outlined some financial facts so far this year. Now we offer some meta-analysis of the deals (19 unique = $88m):
Straight equity was the most common type of note used; SAFE (Simple Agreement for Future Equity) usage is increasing, with three known deals counted in Q1.
Nearly three quarters of the $88m invested in Q1 went to early stage tech companies, defined simply as <5 years of age, and about a quarter was middle stage (6-10 years).
Over a third of the investment dollars went to HealthTech ventures (thanks largely to Bind’s $60m round), B2b/enterprise SaaS saw 10% and Music-focused technology strongly represented at 10% also.
Approximately 1/3 of the recipients were pre revenue and 2/3 were post revenue.
Disclosed investors for the period include: Triple Tree Capital Partners, Gopher Angels, PEAK6, Backstage Capital, Arthur Ventures, The Syndicate Fund, Lemhi Ventures, Techstars Ventures, Matchstick Ventures, Gopher Angels, M25 Group, Village Capital Investments, angel investors Marc Belton, Mark Addicks, & Jim D’Aquila.