What to know about the second fund from Great North Ventures (formerly Great North Labs):
- Great North Ventures has announced the launch of Great North Venture Labs, a venture studio aimed at investing in seed-stage startups in the Midwest
- Great North Ventures has raised $13.8 million for the fund so far
- The total amount will be similar to the ~$24 million total of the organization’s first fund
- The studio is looking to launch one or two companies each year, providing each with hundreds of thousands of dollars in seed funding before following up with more funding rounds in the $1 million to $10 million range
- Studio companies will also have access to Great North Ventures’ local and national network of professionals in order to build leadership teams and speed up the product-to-market process
- The first company to join the studio is currently operating in stealth mode, but is headquartered in Minnesota
For more information on the Great North Ventures and Great North Venture Labs, read the organization’s announcement post.