Top 10 VC Funds in Minnesota
Minnesota is a state with a vibrant and diverse entrepreneurial ecosystem, attracting both local and national venture capital firms to invest in its promising startups. Whether you are looking for funding, mentorship, or networking opportunities, Minnesota has it all. We have listed the state's top 10 VC funds based on various metrics. Here's the list:
1. Matchstick Ventures
Matchstick Ventures, based in the Twin Cities, passionately invests in tech startups led by exceptional entrepreneurs with innovative ideas and significant market potential. As a dedicated catalyst, Matchstick wholeheartedly supports its founders and the broader startup community. Focused on startups with a solid product and customer base, Matchstick Ventures is committed to propelling creative individuals who are determined to achieve success.
Website: matchstick.vc
Founding Year: 2013
Investment Range: $500K - $5M
Stage: Seed, Early Stage
Sector: Technology, Media, Consumer
Investment Geography: North America (primarily US)
Notable Investments: Onward, Kahilla, Haekka, CURU, Getro, Milk Moovement
Submit Pitch/ Contact: Link
2. Arthur Ventures
Arthur Ventures is an early-growth capital firm. It spearheads investments in B2B software companies beyond Silicon Valley. Established in 2013, they've collaborated with over 50 companies across the U.S. and Canada. Currently overseeing $1.1 billion, they are actively investing from their fifth fund, which amounts to $300 million.
Website: arthurventures.com
Founding Year: 2008
Investment Range: $250K - $3M
Stage: Early, Late, Seed
Sector: B2B Software
Investment Geography: North America
Notable Investments: Ionic, Leadpages, and Zipnosis
Submit Pitch/ Contact: Link
3. InHealth Ventures
InHealth Ventures (IHV) is a venture capital fund specializing in early-stage investments in healthcare and life sciences technology. They support visionary founders dedicated to transforming healthcare. Leveraging its extensive experience and global network, IHV accelerates startups from Seed to Series A and beyond. The company's goal is to positively impact healthcare by reducing costs, enhancing patient access and outcomes, and improving the working conditions for both clinical and non-clinical staff.
Website: inhealth.vc
Founding Year: 2016
Investment Range: $500K - $3M
Stage: Pre seed, Series A
Sector: Healthcare, Life Sciences
Investment Geography: North America, Europe, Asia
Notable Investments: Visana Health, Laudio, Axuall, Healios, Neurofenix, CION Cancer Clinics, Suki
Submit Pitch/ Contact: Link
4. Stone Arch Capital, LLC
Stone Arch Capital is a Minneapolis-based equity firm. It invests in real estate, technology, and retail sectors. With a vast 100-year experience, they specialize in transforming businesses. Their investment range spans $25 million to $125 million. Noteworthy clients encompass Toysmith, Greenlite, Mitchell’s Oil Field Service, Inc., Norwesco, Inc., showcasing their diverse portfolio.
Website: stonearchcapital.com
Founding Year: 2003
Investment Range: $10M - $25M
Stage: Growth
Sector: Business Products, Business Services, Consumer Products, Consumer Services, Financial Services, Healthcare, Energy, Materials, Resources, Information Technology, Manufacturing
Investment Geography: Midwest
Notable Investments: Lambent, Toysmith, Helix, ICS
Submit Pitch/ Contact: Link
5. Deepwater Asset Management
Deepwater, a visionary investment firm with over two decades of expertise, excels at combining art and science in its mission to profit from global trends. Specializing in equity investment funds across public and private markets, Deepwater strategically invests in high-quality growth businesses. The firm's focus on transformative technologies and innovative ventures reflects its commitment to unlocking substantial value for investment partners.
Website: deepwatermgmt.com
Founding Year: 2017
Investment Range: Undisclosed
Stage: Seed, Later
Sector: Artificial Intelligence, Machine Learning, Augmented Reality, Virtual Reality, Robotics Sectors
Investment Geography: Minnesota
Notable Investments: Redwood Materials, Inner Cosmos, Hydra Host, Rain (Information Technology), Racket (Application Software)
Submit Pitch/ Contact: Link
6. Brightstone Venture Capital
Brightstone Venture Capital, headquartered in Minneapolis, is an early-stage venture capital firm focused on fostering growth since 1985. Managing numerous venture partnerships, they've invested in 100+ successful companies like Wasabi Tech, FLYR Labs, and VRChat. Specializing in technology and life sciences, Brightstone has a notable track record with companies such as Definity Health, HomeSpotter, and FlipGrid, contributing to the success of diverse ventures across the nation.
Website: brightstonevc.com
Founding Year: 1985
Investment Range: $250K - $10M
Stage: Early, Growth
Sector: AI/Machine Learning, Enterprise Security, Blockchain, Cloud Infrastructure, Marketplaces, Life Sciences, Regenerative Medicine, Stem Cell, Next Gen Diagnostics, Genomics/Gene Editing
Investment Geography: Brightstone Venture Capital is based in Minneapolis, Minnesota, and invests primarily in the United States
Notable Investments: Wasabi Tech, FLYR Labs, Definity Health, HomeSpotter
Submit Pitch/ Contact: Link
7. Oxbow Industries, LLC
Oxbow Industries, based in Minneapolis/St. Paul, Minnesota, is a diverse holding company that collaborates with existing management teams to acquire and develop businesses. With a focus on providing liquidity for owners, capital for corporate growth, and equity opportunities for key management, Oxbow is committed to long-term investments, aiming to build value gradually rather than overnight.
Website: oxbowindustries.com
Founding Year: 2004
Investment Range: $20M - $250M
Stage: Private
Sector: Focuses on investing across outsourcing, building products, healthcare, direct mail, publishing, printing, software, and consumer products sectors
Investment Geography: United States
Notable Investments: Skywater, Cnex LABS, MN Fence Supply, APP
Submit Pitch/ Contact: Link
8. New Impact Fund
The New Impact Fund is more than a think tank; it's a do tank. Dedicated to bridging the gap for BIPOC entrepreneurs in the Twin Cities, the fund, fueled by High-Net-Worth Individuals, provides evergreen loans. Their goal is clear: eliminate the local racial wealth gap. The vision extends globally, aiming for a world where BIPOC and all entrepreneurs have equal opportunities. Former Cohort Member Susan Shank urges local change through investment in BIPOC entrepreneurs, making a tangible impact on business growth and autonomy.
Website: newimpactfund.org
Founding Year: 2014
Investment Range: Undisclosed
Stage: Undisclosed
Sector: Invests in Black, Indigenous, Latino, Asian, and immigrant-owned small businesses located in underinvested and underestimated Twin Cities neighborhoods
Investment Geography: Twin Cities neighborhoods of Minneapolis
Notable Investments: Next Level Logistics, Taylor’d Skin, Esthetics Bar, and Lip Esteem
Submit Pitch/ Contact: Link
9. Bread and Butter Ventures
Bread and Butter Ventures is a Minnesota-based early-stage venture capital firm. It operates globally, utilizing its strategic location to tap into robust corporate networks, commercial prospects, and industry knowledge. Specializing in seed stage investments, the firm not only leads funding rounds but also collaborates with influential co-investors to enhance overall value for the startups it supports.
Website: breadandbutterventures.com
Founding Year: 2017
Investment Range: $1.3M - $20M
Stage: Seed
Sector: Ag/Food Tech, Health Tech, and Enterprise SaaS
Investment Geography: Global
Notable Investments: Milk Moovement, Orbiit56, Science On Call
Submit Pitch/ Contact: hello@breadandbutterventures.com
10. Dundee Venture Capital
Mark started Dundee as a humble online hammock shop in 1998. He soon grew it into a successful outdoor furniture e-commerce startup, based in Omaha. With the support of Sequoia & Insight, he sold Dundee to Walmart and made a fortune. But Mark was not done yet. He saw the untapped potential of hidden gems in the tech world, especially in Commerce, FinTech, and Supply Chain. So he launched the Dundee Fund in 2012, a $40M fund that invests $1M in early-stage startups from overlooked markets. Since then, Dundee has backed over 100 founders in 25 cities, showing that underdogs can win big in tech.
Website: dundeeventurecapital.com
Founding Year: 2010
Investment Range: $500K - $1M
Stage: Pre Seed, Seed
Sector: Fintech, E-commerce, E-commerce Infrastructure, Supply Chain, Logistics
Investment Geography: North America
Notable Investments: Autobound, Curated For You, Upwardli, Vertical Insure, Flamel AI
Submit Pitch/ Contact: Link
FAQ (Frequently Asked Questions)
Q: What cities have the most VC firms?
A: According to a report by PitchBook-NVCA Venture Monitor, the United States received $341.5 billion in venture capital investment in 2021, which is more than double the amount invested in 2020. The top 10 regions for venture capital investment in the US are San Francisco Bay Area, New York City, Los Angeles, Houston, Chicago, Boston, Scottsdale, Palo Alto, San Diego, and Seattle. These regions are primarily concentrated in technology and other major industries.
Q: Do VC firms pay well?
A: Venture capital usually pays better than corporate development but not as much as private equity and hedge funds. At big VC firms, associates without an MBA can make $150K to $200K, while those with an MBA might rake in $200K to $250K. You might also ask, 'Do startups pay well?' Here's your answer.
Q: What is the average salary of a partner in a VC firm?
A: The average salary for a Venture Partner in the U.S. is $300,279 per year, based on a 2023 survey. Compensation in VC firms includes salary, bonus, and carry (a percentage of investment profits). Salary, the main component, is often paid from management fees, while bonus and carry are not guaranteed but commonly received.
Best of luck with your amazing ventures.
Please note that this list is filtered by various metrics, and all the data are collected through various third-party websites, mostly the VC website. Since data such as ticket size or industry may change, you are requested to visit the official website given in the blog for the latest and updated information.
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