Minnesota Tech Funding Report Q2 2018: 24 Ventures Raised ~$163m

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dundee research underwriterAt least 24 different Minnesota tech ventures received a combined 163 million dollars of investment capital during the second quarter of this year, according to information collected and analyzed from April 1 – June 30, 2018.

This research underwritten by Dundee Venture Capital provides readers with unparalleled transparency into the funding facts that surround 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.

Quarter over quarter change: # of unique co’s: + 26% / aggregated $ raised: +85%

(Q1 2018 report available here)

Year over year change: # of unique co’s: – 27% / aggregated $ raised: – 16%

(Q2 2017 report available here)

Largest rounds of the quarter: Connexio -$110m; KeyedIn – $15m; Sezzle – $10m

Active investors this quarter: Mayo Clinic Ventures, Noaber Foundation, Social Capital, Bluestem Capital, Rise of the Rest Seed Fund, Great North Labs, High Alpha, Matchstick Ventures, The Syndicate Fund, UHG, Lemhi, Next Frontier Capital, Daren Cotter, Arrowroot Capital, M25 Group, Router Ventures, Volition Capital, Great Hill Partners, DSM Venturing.

Q2 2018 deals and dollars:

On the investor front:
 
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