Which MN Health Care Startups Landed The Most Angel Funding In 2016?

Local health care startups targeting regenerative medicine, obesity, glaucoma, blood cancer and other fields led the list of the biggest 2016 recipients of funding from investors eligible for the Minnesota Angel Tax Credit. Read more at Twin Cities Businesses.

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Second Equity Crowdfunding Portal Goes Live In Minnesota

Silicon Prairie Online became the state’s second equity crowdfunding platform late last week, following approval by the Minnesota Department of Commerce.

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Sezzle nabs funding for low-fee payments processing

Financial-technology startup Sezzle has wrapped up a $1.85 million round of funding as it prepares to launch a payments-processing product for retailers. Read more at the Minneapolis-St. Paul Business Journal.

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OneOme Lands $5.25 Million In Financing Round

Minneapolis-based OneOme LLC has drawn $5.25 million in new financing; 80 percent of the round is debt, 20 percent is equity. OneOme was founded in 2013, backed by Minneapolis-based Invenshure LLC, an incubator and venture investor, and Rochester-based Mayo Clinic.

Learn more here.

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Gopher Angels Invests $11M in First 4 Years; To Host Angel Capital Association Conference

Gopher Angels has announced that it has now put $11M into high-potential startups connected to Minnesota.  Recent investments in a variety of companies highlight the breadth and depth of support that Gopher Angels provides to startups in the region.  As an extension of the group’s rapid growth and collaborative nature, Gopher Angels is also announcing that it is hosting the first Midwest Regional Conference of the Angel Capital Association on September 22, 2016 in Minneapolis.

Read more: https://docs.google.com/document/d/1JF3QYV7JWEEJFHANHKLCb1Co6JkT6EI2qAkqGoksrx4/pub

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CVRx lands $93M equity financing

Medical device maker CVRx will announce Tuesday that it has raised $93 million in venture capital, the largest Minnesota haul this year.

Read more at the Star Tribune.

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Venture capital investment jumps to $118 million in Q2

Minnesota companies raised nearly $118 million in venture capital in the second quarter of 2016, according to data from Thomson Reuters and the PwC/NVCA MoneyTree™ Report.

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Twin Cities startup with record VC haul bags another $46M

Med-tech company CVRx Inc., which has bagged more venture funding than any company in Minnesota history, has closed on $46 million in equity financing and landed commitments for another $25 million.

Read more at the Minneapolis-St. Paul Business Journal.

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Angel Tax Credit funding included in supplemental budget bill

Last week, Governor Dayton signed the supplemental budget, which contained a one-year extension of the Angel Tax Credit funded at $10 million. Without this funding, the credit would have ended once this year’s funding was exhausted.

50 percent of the funding must be allocated to credits for qualifying investments in qualified greater Minnesota businesses and minority- or women-owned qualified small businesses in Minnesota. If any of that funding is not allocated by September 30, it becomes available for allocation to other credit applications beginning on October 1.

The Angel Tax Credit is an important mechanism for encouraging investment in startups across Minnesota.

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When I Work attracts $15 million in venture capital, may move to Minneapolis

When I Work Inc., the St. Paul software firm whose app is an increasingly popular tool for scheduling work at small businesses and temporary jobs, just attracted $15 million in new venture capital, the company said this morning.

Read more in the Star Tribune.

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State Nears Adoption Of Equity Crowdfunding Rules

Minnesotans of all incomes might soon be able to make equity investments in local companies not unlike how they give money to Kickstarter campaigns.

The ability to do so is thanks to MNvest, legislation that “aims to provide wider, cheaper and faster access to funding for companies and entrepreneurs,” according to the organization by the same name lobbying the effort. MNvest was signed into law in 2015 as part of an omnibus spending bill, but it needed to complete the 22-step process of rulemaking that can sometimes takes years.

Read more in Twin Cities Business.

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Minnesota startups’ busy spring: $90M raised in two months

Minnesota startups raised more than $90 million in funding since the end of March.

It was easier than usual to hit that mark thanks to one big deal in April: Startup insurer Bright Health closed on an $80 million an $80 million round led by Bessemer Venture Partners and New Enterprise Associates.

Read more at the Minneapolis-St. Paul Business Journal.

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Venture Capital Investment reaches $54 million in Q1 2016

Minnesota companies raised nearly $54 million in venture capital in the first quarter of 2016, according to data from Thomson Reuters and the PwC/NVCA MoneyTree™ Report.

The $54 million raised was a dip from last quarter, when Minnesota companies raised $191 million. Total investment in 2015 reached $371 million — the 7th-best year for Minnesota.

Read more at the Minneapolis-St. Paul Business Journal.

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Bright Health Raises $80 Million In Venture Funding

Bright Health, a Minneapolis-based insurance startup, announced that it had secured $80 million in venture funding. Read more at Twin Cities Business Magazine.

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Minnesota is tops in med-tech deals

Midwest health care startups raised $1.5 billion in 2015 with Minnesota leading the region, according to a report from Cleveland-based nonprofit BioEnterprise. Learn more at the Minneapolis-St. Paul Business Journal.

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Real Estate Software Developer HomeSpotter Raises $925K

HomeSpotter, a mobile applications developer for real estate agencies, closed a $925,000 funding round on Friday. Read more at Twin Cities Business

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Health care startup RetraceHealth raises funding from HealthEast, Blue Cross

RetraceHealth, a health care startup that offers patients video and in-home visits with nurse practitioners, has closed on a funding round led by two Twin Cities health care organizations and McKesson Corp.’s venture arm.

Read more at the Minneapolis-St. Paul Business Journal.

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Code42’s mega-deal and the med-tech rebound boost VC haul in Q4

Venture capital investment in Minnesota startups surged during the fourth quarter, making 2015 the seventh-best year on record for the state, according to a report released Friday, January 15. Read more at the Minneapolis-St. Paul Business Journal.

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The Big Know Raises $3 Million in Series A Funding

The Big Know announced that it has raised $3 million in Series A funding, following a highly successful launch in October. Led by LFE Capital, the financing includes investor Steve Shank, founder of Capella Education Company. The new investments will accelerate the company’s growth through the addition of talent and technology capabilities supporting the company’s vision of creating a new model for consumer engagement: “Brand As Teacher.”

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Learn to Live Raises $1 Million Round of Funding Led by Blue Cross and Blue Shield of Minnesota

Learn to Live — a Minnesota online Cognitive Behavioral Therapy company — has raised over $1 million led by Minnesota’s largest health plan, Blue Cross and Blue Shield of Minnesota (Blue Cross). Blue Cross contributed a significant share to the raise, with additional funds coming from TreeHouse Health, Matchstick Ventures and several angel investors, including Daren Cotter, CEO of InboxDollars.

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Minnesota’s Angel Tax Credit Program accepting 2016 certification applications

The Minnesota Department of Employment and Economic Development is accepting 2016 certification applications for the Angel Tax Credit Program. Of the $15 million in new credits available in 2016, $7.5 million is reserved for investors or investment groups funding minority-owned and -managed businesses, women-owned and -managed businesses or businesses located in Greater Minnesota.

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Star Tribune: Strategic investor Andrew Mitchell wants to connect start-ups with branding experts

Start-up companies looking for capital are usually happy to take any money, but even better than capital is strategic capital. It’s the money that comes from investors who also bring some expertise that helps grow the business. Read more at the Star Tribune.

 

 

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TrackIf Raises $5 Million To Fuel Its Growing Customer Centric Marketing & E-Commerce Solutions

TrackIf, a leader in online tracking and intelligent alerting for future purchase intent, today announced it has raised a $5 million Series A financing round, co-led by Origin Ventures and Grotech Ventures. Existing investor Chicago Ventures also participated.

News Release

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Mayo Clinic’s THINK BIG Challenge to offer entrepreneurs $100,000 start-up funds, expert guidance

Mayo Clinic’s Center for InnovationMayo Clinic Ventures and AVIA have announced the Mayo Clinic THINK BIG Challenge, a national competition offering awards totaling $100,000 for entrepreneurs with innovative ideas to transform the future of health and health care.

Entrepreneurs can apply for one of two $50,000 THINK BIG challenge awards in these categories:

  • Got Health?
    This challenge will focus on healthy people staying healthy and explore areas such as eating healthy, enhancing well-being, monitoring risk factors and engaging in daily exercise.
  • I Am Not My Disease
    This challenge will tackle the presumption that people are defined by their disease and explore areas such as access to health data, health literacy and behavior modification.

In addition, Mayo Clinic experts will guide winners for a year as they develop their concepts for market. Applications are due by Saturday, Aug. 15, at transformconference.mayo.edu/think-big.

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DEED allocates $12 million in Angel Tax Credits

Minnesota’s Angel Tax Credit provides a 25-percent credit to investors or investment funds that put money into startup companies focused on high technology, new proprietary technology, or a new proprietary product, process or service in specified fields. The maximum credit is $125,000 per person, per year ($250,000 if filing jointly). The credit is refundable. Residents of other states and foreign countries are eligible. DEED has announced that is has allocated $12 million in Angel Tax Credits for investments in more than 80 Minnesota startup companies so far this year.

The agency said an additional $4 million in tax credits is still available for angel investments specifically targeted at startup businesses based in Greater Minnesota or owned by women or members of minority groups. Any funding for those targeted groups still unused after Oct. 1 will be made available for investments in other Minnesota startups.

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