At least 40 different Minnesota technology ventures received a combined $252m of investment capital during the first half of 2018 according to information collected and analyzed from January 1 – June 30, 2018.
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. Did we miss anything? Drop a comment…
At the high level:
- Compared to the same time period last year – when 50 ventures had raised $250m – the number of unique companies is down 20% and the gross dollar amount raised is essentially on par.
- Top 10 largest rounds YTD:
75 cents on every dollar is going to a post-revenue company
The vast majority of deals involve companies that sell business to business.
Equity is clearly the preferred method of capitalization.
2/3 of deals involved companies 5 years or younger.
…and distribution of dollars by stage
Healthtech, Fintech, and Ecommerce clusters lead by deal count
…as seen by dollar share
A list of 38 known investors backing Minnesota Tech ventures (deals YTD):
Triple Tree Capital Partners
The Syndicate Fund – 4
Gopher Angels – 2
M25 Group – 2
Village Capital Investments
Angel Marc Belton
Angel Mark Addicks
Angel Jim D’Aquila
Mayo Clinic Ventures
Revolution’s Rise of the Rest Seed Fund
Great North Labs – 2
Matchstick Ventures – 2
Next Frontier Capital
Angel Daren Cotter
Angel Drew Oetting
Green Bay Ventures
The House Fund
Volition Capital Great Hill Partners
University of St. Thomas/Norris
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