Montana has a budding tech scene, supported by a wave of successful startups and innovative ideas. We've explored the state’s growing startup ecosystem to identify the leading investors and VC firms powering Montana’s market. Using the latest data and insights, we've put together a list of the top 10 VC funds driving growth and opportunities across Big Sky Country.
Here's a table that summarizes the overall VC data for a quick overview:
| VC Firm | Ticket Size | Stages | Founding Year |
|---|---|---|---|
| Two Bear Capital | $250K - $22M | Seed to Series A | 2019 |
| Next Frontier Capital | $100K - $1.5M | Seed, Early-stage | 2015 |
| Frontier Angels | $200K - $1M | Early-stage | 2006 |
| Goodworks Ventures | Not disclosed | Early to Growth stage | 2007 |
| FYR Diagnostics | Not disclosed | Seed to Early-stage | 2016 |
| Montlake Capital | Not disclosed | Growth stage | 1999 |
| Golden Helix | Not disclosed | Growth stage | 1998 |
| Scout Ventures | $2M–$5M | Seed to Series B | 2010 |
| Aldrich Capital Partners | $5M–$30M | Growth equity | 2014 |
| Franklin Park Venture Funds | Fund allocations vary | Varies depending on partner firm | 2003 |
1. Two Bear Capital
Two Bear Capital is a venture capital firm that supports life sciences, technology, and biotech companies. They provide funding from seed to Series A stages. Their investments range from $250K to $22M. The firm focuses on backing entrepreneurs who are developing amazing innovations with the potential to solve global challenges. Two Bear Capital is dedicated to helping visionary companies to grow and make a meaningful impact in the world.
- Website : twobearcapital.com
- Founded : 2019
- Investment Range : $250K - $22M
- Stage : Seed to Series A
- Sector : Life sciences, technology, biotech
- Geography : Montana and globally
- Notable Investments : Inimmune, Submittable, onXmaps
- Submit Pitch/ Contact : Link
2. Next Frontier Capital
Next Frontier Capital’s focus is to partner with mission-driven, talented entrepreneurs to build Rocky Mountain technology companies of impact, utility and value. They target sectors like technology, real estate, and consumer products, helping innovative businesses scale with investments ranging from $100K to $1.5M. The firm is committed to supporting entrepreneurs who bring disruptive solutions to the market and have the potential to become industry leaders.
- Website : nextfrontiercapital.com
- Founded : 2015
- Investment Range : $100K - $1.5M
- Stage : Seed, early-stag
- Sector : Technology, real estate, B2B, consumer products
- Geography : Primarily Montana, Rocky Mountain region
- Notable Investments : Bridger Photonics, onXmaps, MonetizeNow
- Submit Pitch/ Contact : Link
3. Frontier Angels
Frontier Angels is a Montana-based venture capital firm that invests in early-stage, technology-driven businesses. Their investment ranges between $200K and $1M. They focus on startups that are poised for growth and have strong leadership. Frontier Angels works closely with entrepreneurs to help them build successful businesses that can have a lasting impact in their respective industries.
- Website : frontierangels.com
- Founded : 200
- Investment Range : $200K - $1M
- Stage : Early-stage
- Sector : Technology-driven businesses
- Geography : Montana
- Notable Investments : AVOL Aerospace, LandTrust
- Submit Pitch/ Contact : Link
4. Goodworks Ventures
Goodworks Ventures invests in technology and community-driven businesses, with a focus on companies that align with social impact goals. The firm backs early to growth-stage ventures that are creating positive change, They provide the capital and support needed to succeed. Goodworks Ventures seeks out companies that are not only financially promising but also contribute to the well-being of their communities.
- Website : goodworksventures.com
- Founded : 2007
- Investment Range : Not disclosed
- Stage : Early to growth stage
- Sector : Technology and community-driven businesses
- Geography : Montana
- Notable Investments : Various local startups
- Submit Pitch/ Contact : Link
5. FYR Diagnostics
FYR Diagnostics specializes in biotech and diagnostics for human and agricultural diseases. The firm provides seed to early-stage funding, with a focus on innovative diagnostic solutions that have the potential to transform healthcare and agriculture. Backed by key investors like Two Bear Capital, FYR Diagnostics is committed to advancing cutting-edge technology in the diagnostics space.
- Website : fyrdiagnostics.com
- Founded : 2016
- Investment Range : Not disclosed
- Stage : Seed to early-stage
- Sector : Biotech, diagnostics for human and agricultural diseases
- Geography : Montana, with nationwide operations
- Notable Investments : Backed by Two Bear Capital, NIH grants
- Submit Pitch/ Contact : Link
6. Montlake Capital
Montlake Capital is a growth-stage venture capital firm that invests in scalable businesses across diverse sectors which includes technology, manufacturing, and consumer products. They work with companies that are poised for national expansion. Montlake Capital offers both financial backing and strategic guidance. They seek out ventures with strong growth potential and help them achieve long-term success.
- Website : montlakecapital.com
- Founded : 1999
- Investment Range : Not disclosed
- Stage : Growth stage
- Sector : Diverse, including tech, manufacturing, and consumer products
- Geography : Primarily Montana, with national reach
- Notable Investments : Focused on scalable businesses
- Submit Pitch/ Contact : Link
7. Golden Helix
Golden Helix is a bioinformatics and genomic data analysis company that operates globally. They provide innovative solutions for pharmaceutical companies and research institutions. They help advance precision medicine and genomic research. Backed by venture capital, Golden Helix works with clients worldwide to develop healthcare solutions that improve patient outcomes.
- Website : goldenhelix.com
- Founded : 1998
- Investment Range : Not disclosed
- Stage : Growth stage
- Sector : Bioinformatics, genomic data analysis
- Geography : Montana, with a global client base
- Notable Investments : NIH-backed projects, collaborations with pharmaceutical companies
- Submit Pitch/ Contact : Link
8. Scout Ventures
Scout Ventures is a seed-stage venture capital firm investing in breakthrough technologies that drive innovation across both commercial and defense sectors. They focus on dual-use tech, which has applications in both private markets and public defense. With a team of military veterans and entrepreneurs, Scout Ventures backs founders working on great solutions. They are dedicated to creating a positive global impact while delivering strong returns. They support ventures that enhance security, innovation, and prosperity.
- Website : scout.vc
- Founding Year : 2010
- Investment Range : $2M–$5M
- Stage : Seed to Series B
- Sector : Frontier technology, AI, cybersecurity
- Geography : Primarily U.S., including Montana
- Notable Investments : Anduril Industries (defense tech), Vannevar Labs (AI for national security), Nexus Labs (military tech), Mapbox (mapping software), Unite Us (healthcare coordination)
- Submit Pitch/ Contact : Lin
9. Aldrich Capital Partners
Aldrich Capital Partners is a venture capital firm led by entrepreneurs who understand the challenges of growing a business. They invest in founder-led companies with a strong track record of success and focus on building long-term partnerships. Aldrich provides more than just capital. They offer deep operational support and industry expertise to help businesses scale. Their collaborative approach ensures companies can reach new levels of growth and success.
- Website : aldrichcap.comFounding Year : 2014
- Investment Range : $5M–$30M
- Stage : Growth equity
- Sector : Healthcare IT, Fintech, SaaS
- Geography : U.S., including Montana
- Notable Investments : Paymerang (B2B payments), Personify (member management software), Kareo (healthcare IT), Airside (identity verification tech), Beyond Pricing (property management software)
- Submit Pitch/ Contact : Link
10. Franklin Park Venture Funds
Franklin Park Venture Funds focuses on investing in private markets, specializing in venture capital. They operate as a fund of funds, partnering with top-performing managers and offering co-investments. Franklin Park seeks to identify and support high-growth opportunities across various sectors, leveraging their deep expertise to help businesses scale. With a focus on long-term value creation, their investments aim to generate strong returns while fostering innovation and growth in the companies they back.
- Website : venturecapitaljournal.com
- Founding Year : 2003
- Investment Range : Fund allocations vary per partner firm
- Stage : Varies depending on the partner firm
- Sector : Various sectors
- Geography : U.S., including regional investments in Montana
- Notable Investments : Indigo Agriculture (agriculture tech), Palantir (data analytics), Zipline (drone delivery), ClearMotion (automotive tech), Butterfly Network (healthcare devices)
- Submit Pitch/ Contact : Link
FAQ (Frequently Asked Questions)
- Is VC high risk?
Venture capital is a type of investment that can be risky but has the potential for high returns. However, there is no guarantee of success. Investing in startups is always uncertain, and you might lose your money. Even though VC firms try to minimize risks, investing in startups is always uncertain, and you might lose your money. - What is the best country to set up a VC fund?
If you’re looking to set up a VC fund, many people think the United States has the best venture capital (VC) funds worldwide. This is because the US has a big economy, lots of money available, and many successful startups. - What cities have the most VC investments?
The top five cities for venture capital investment are San Francisco, New York City, Boston, San Jose, and Los Angeles. These cities together receive more than two-thirds (67.5%) of all venture capital investments. - What is the minimum amount for a VC fund?
Venture capital funds usually ask for a minimum investment of $250,000 to $500,000, and sometimes even more. Investing a small amount of money can still cost a lot. These funds are usually only open to wealthy people and big organizations that have a lot of money. - How do I choose a VC fund?
To choose a VC fund, check how much experience and success the venture capital firm has had before. Look at the companies they’ve invested in before to see if they match what your business does. This can help you figure out if they’re a good match for you.
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.