Minnesota's Top 12 Investor Venture Capital Firms [2023]

The state of Minnesota is home to a number of venture capital firms that actively invest in start-up companies. Although there are many types of investors and funding sources for new businesses, venture capital firms play an important role. These companies provide access to capital that can help make your business something bigger than you ever imagined – that’s why we’ve compiled this list of some of the best VC companies based here in Minnesota. :

1. Tiny

Tinyseed is a venture capital firm that invests in early-stage companies, primarily in the food and agriculture sector. The company was founded by David Peterson and Steve Finnie in 2015, with the goal of making investments that support Minnesota’s thriving innovation ecosystem.

Tinyseed has made over 200 investments since its founding, including companies like DroneBase (a drone delivery service), Gluten Free Direct (a gluten-free bakery retailer), Treehouse Foods (an organic condiment company) and Windy City Solutions (a cybersecurity company).

Tinyseed invests in companies that are building a more sustainable and resilient food system. The company focuses on startups that reinvent the way we produce, distribute and consume food. These include companies that are using digital technology to make farming more efficient, improve food security and nutrition, and create new avenues for farmers to sell their products directly to consumers.

2. The Great River Company

The Great River Company (GRO) is a Minneapolis-based venture capital firm investing in sustainable agriculture, renewable energy and water quality. GRO partners with Mennonite Mutual Aid to provide financial support to rural communities and underserved populations in Minnesota.

The company’s current portfolio includes:

• Water Quality Protection Fund (WQPF), an investment vehicle focused on promoting access and sustainability for the world’s water resources in terms of financing clean water projects;
• Community Economic Development Fund (CEDF), an entity designed to accelerate economic development through investments in small businesses in Minnesota; And
• Rural Economic Development Fund (REDF), which helps finance businesses located outside urban centers by providing loans or grants based on their business needs.

3. Vensana Capital

Vensana Capital is a venture capital firm that invests in start-up companies in the Midwest.

Vensana was founded in 2016 by former Target Corp. executive Jeff Epstein. The company’s goal is to support Minnesota entrepreneurs with their growth and development by supporting them with million in equity financing.

Vensana is an active investor in the Minneapolis-St. Paul’s area and has invested in a number of startups, including Rally Software and Midwest Energy Emissions Corp. Jeff Epstein said he “wanted to do something different” after working at Target for more than 10 years.

4.Norwest Equity Partners (NEP)

Norwest Equity Partners (NEP) is a venture capital firm that invests in early-stage software, consumer and healthcare technology companies. Over its 15-year history, NEP has invested in over 100 companies, including Braintree, Reddit, and Sailthru.

Norwest Equity Partners was founded by Jerry Watkins who served as CEO for 18 years before retiring in 2012 for health reasons. Since then, he has continued to mentor the firm’s staff and act as an advisor to their portfolio companies.

NEP has over .5 billion in capital under management and invests in early-stage companies with the goal of helping them reach their full potential. The company has offices in San Francisco, New York and Boston.

5. Agribank (St. Paul, MN)

Agribank (St. Paul, MN) is a .9 billion community bank with 15 branches in Minnesota and Wisconsin. It was founded in 1959 by John Gage and Harold Stromquist with an initial capitalization of 0 million, which is now worth over billion. Agribank has been recognized by the Minneapolis/St. Paul Business Journal as one of the Best Places to Work in Minnesota for four consecutive years (2017-2021).

Agribank has participated in several successful community initiatives, including a donation of funds to build new homes for low-income families by Habitat for Humanity; sponsor local youth sports teams; Support small business development programs like women entrepreneurs or community builders etc.,

6. Traditional mortgage

Tradition Mortgage is a mortgage lender in Minnesota. It was founded in 2006 and has .3 billion in assets under management, making it one of the largest financial institutions in the state.

The company’s founder, Jim Larson, started tradition financial services after working in his family’s real estate company as an appraiser and loan officer for 15 years before starting his own business. He has remained its CEO since then and has built several subsidiaries over time: the traditional home loan service; Tradition Home Equity Lending; Traditional Wealth Management; Lending Manager LP (a subprime lending company); Real Estate Asset Management LLC (an investment management company); Heritage Financial Group LLC (a brokerage firm); GMS Capital Partners LLC (a private equity firm).

7. Idea of

IdeaGist is a venture capital firm that invests in early-stage companies. It focuses on investing in problem-solving startups in the agriculture, food and agribusiness industries.

IdeaGist was founded in 2014 by a group of farmers and investors who wanted to use their experience as farmers to help build businesses that would benefit both farmers and consumers. The company has raised more than 0 million from investors including Bill Gates, Cascade Investments, Ingersoll Rand CEO Thomas Kircher and former New York City Mayor Michael Bloomberg, Bloomberg Philanthropies (including his personal stake ).

8. Round Bank

Roundbank is a venture capital firm that invests in companies that are building the future of finance. Roundbank invests in early stage companies with a focus on financial services and financial services.

Roundbank has invested in more than 50 companies around the world, including SpecTrocoin, which is now worth over billion; Transferwise (now valued at billion); and Algorithmics (0 million).

Roundbank was founded and is led by a team of experienced venture capitalists and entrepreneurs, including Ian Chan (former CEO of Transferwise), Alexey Gavrilov (former CMO of Xendpay) and Alina Andreea Dumirru (former Head of Retail Banking at Transferwise). Roundbank works with some of the most promising companies in financial services.

9. Springsted Incorporated

Springsted Incorporated is a Minneapolis, Minnesota-based private equity firm. The company was founded in 1994 by John R. Bracken who has been President and CEO of Springsted Incorporated since its inception. Currently, there are five members on the Board of Directors: John R. Bracken; Robert M. Schultz Jr.; Scott Linnert; Paul Smesko III (who replaced William Ryan) and Ronald Peterson (who replaced Michael Kostiuk).

The company focuses on investing in small and medium-sized businesses across all industries, including manufacturing, distribution and retail sales through four funds: Upland Ventures Fund A – million raised from investors like Wells Fargo & Co., Northwestern Mutual Life Insurance Company and Charles and Charles and Charles Schwab Corp., Upland Ventures Fund B – million raised from investors like General Mills Inc., Abbott Laboratories Inc., Johnson Controls International Ltd etc. ; Enterprise Park II Venture Fund II LP – million raised from investors including Morgan Stanley Capital Management LLC; Enterprise Park III Venture Fund III LP – million raised from investors like General Electric Co

10. Frandsen Bank & Trust

Frandsen Bank & Trust is a community bank serving the people of Minnesota, North Dakota and South Dakota since 1916.

The company is owned by Frandsen Financial Corporation, founded by Martin Frandsen in 1917 as an agricultural lending institution serving small communities in southeastern Minnesota. Today, it serves 16 counties across the state with total assets of over billion.

The company is headquartered in Albert Lea, Minnesota and has over 100 branches throughout its market area. It also maintains a mortgage origination office in Sioux Falls, South Dakota.

11. First State Bank and Trust

First State Bank and Trust is a full-service community bank with three locations in Minnesota. The bank was founded in 1922 as First State Bank of Paynesville, but changed its name to First State Bank & Trust Corporation in 2008.

In addition to having its headquarters in St. Cloud, MN, First State has branches located in downtown Minneapolis (Minneapolis), Bloomington (Bloomington) and St. Paul (St Paul).

First State Bank & Trust has assets of .7 billion and total deposits of .6 billion as of September 30, 2018. The bank has been FDIC insured since 1934, which means your deposits are guaranteed until at 0,000 per account type.

12. Foley & Mansfield, PLLP

Foley & Mansfield, PLLP is a Minneapolis-based law firm with a strong investment practice. They also have a strong technology practice and a real estate practice. The company’s litigation and bankruptcy practices are also well established, but they aren’t as strong in those areas as their other offerings.

Foley & Mansfield was founded in 1873 by Edwin Fitch and Paul Jackson; Today it has offices in downtown Minneapolis (the state capital), St Paul, Duluth/Superior, and Brooklyn Park/Minneapolis Metro Area locations throughout Minnesota

Conclusion

There are many more to mention, so if you’re looking for a venture capital firm in Minnesota, here’s our list of the top ones! We hope this article has helped you evaluate potential opportunities and understand how much money they might offer you.