Last week, we published the Q2 2018 Minnesota Tech Funding Report, which showed 24 Minnesota tech ventures have collectively raised $163m between April-June this year; here is some aggregate analysis of all those deals:
1) Straight equity was the most common type of financial instrument used (in 12 deals), followed by Convertible debt (6 deals), with a couple (2) of SAFE’s also represented.
2) 80% of the ventures were post revenue, 20% pre revenue:
3) Healthtech, Fintech, Ecommerce were popular based on deal volume per category
4) 3 out of 4 companies represented were 5 years or less in age:
5) 27 Disclosed investors were involved during the term include: Drew Oetting, Green Bay Ventures, Precursor Ventures, FJ Labs, Seahawk Capital, The House Fund, T-Bird Capital, Escondido Ventures, 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. (Bonus: most active three – Great North Labs, Matchstick Ventures, and The Syndicate Fund)