Although the first three quarters of 2015 have been sluggish in attracting venture capital to Minnesota firms, Q4 is seeing a lot more investment activity. In early October, software firm Code42 secured $85 million in Series B funding led by JMI Equity and New Enterprise Associates, Inc. (NEA). It is the biggest VC investment in a Minnesota company since 1999.
Even local Fortune 500s are working on initiatives to increase access to financing for growing firms. General Mills Inc. recently announced it will create its own venture capital fund targeted towards young, innovative food companies. This fund is more than just an infusion of money, as General Mills intends to create partnerships with its investees that may lead to eventual acquisition.
Minneapolis–St. Paul Chart of the Week November 16, 2015
1. Minneapolis–St. Paul
Venture capital flows to software and medical
device firms in Q3
Chart of the week: November 16, 2015
• Although the first three quarters of 2015 have been sluggish in attracting venture capital to Minnesota
firms, Q4 is seeing a lot more investment activity. In early October, software firm Code42 secured $85
million in Series B funding led by JMI Equity and New Enterprise Associates, Inc. (NEA). It is the biggest
VC investment in a Minnesota company since 1999.
• Even local Fortune 500s are working on initiatives to increase access to financing for growing firms.
General Mills Inc. recently announced it will create its own venture capital fund targeted towards young,
innovative food companies. This fund is more than just an infusion of money, as General Mills intends to
create partnerships with its investees that may lead to eventual acquisition.
Sources: JLL Research, PwC MoneyTree™ Report
Q3 2015 investee firms in Minnesota
$30,000,000
$15,000,000
$12,014,000
$5,000,000
$2,800,000
Field Nation LLC
Software
Ativa Medical
Medical Devices
Amphora Medical Inc
Medical Devices
Trackif Inc
IT Services
Fitness On Request Inc
Media and Entertainment
