The Startup Scene in Minnesota

Browse the Minnesota startup ecosystem featuring 29 investors and startups. Our directory includes 24 angel investors and VCs with an average check size of $23.7M, plus 5 startups across all sectors. 1 investors are actively investing, and 0 startups are generating revenue.

24
Investors
5
Startups
$23.7M
Avg Check
0%
With Revenue
Minneapolis
Top City
4%
Active Investors

Duol Chut

Duol Chut

MN

Product Built

Blom Inc.

E. Aaron Cohen

SEED

MN

CONSUMER

Minnesota’s adult-use cannabis market faces a significant near-term supply shortage: ~2,000,000 sq. ft. canopy needed vs. ~120,000 sq. ft. currently in production. Consumers will face immediate...

Technical

Unlock the VA

Justin

MN

Product Built

Prexi

Om Sharma

PRE SEED

Minnesota

B2B SAASVERTICAL MARKETPLACESSMB SAAS

Unchecked entry of unlicensed providers in booking platforms leading to bad client experiences and lack of incentive to be licensed.

Product BuiltTechnical

Julian W Thorne

Julian W Thorne

Minnesota

Cornerstone Capital

Cornerstone Capital

VC

Minneapolis, MN

Check: $8.4M – $8.9M

Cornerstone Capital Management seeks to provide world class investment and financial advisory solutions and service to enable institutions and individuals to achieve their financial goals, while...

Exploring10 portfolio co.

Lemhi Ventures

Lemhi Ventures

VC

Wayzata, MN

Check: $3.0M – $27.0M

Lemhi Ventures is a health care services fund formed by a team of experienced innovators, entrepreneurs, and executives. The Lemhi team has been through the start-up process, learned how to grow...

Exploring8 portfolio co.

CE-0605 Fund III, a series of Rhone

CE-0605 Fund III, a series of Rhone

VC

Rochester, Minnesota

Exploring

Technology Venture Partners

Technology Venture Partners

VC

Minneapolis, Minnesota

Exploring

SightLine Partners

SightLine Partners

VC

Minneapolis, MN

Check: $11.5M – $29.6M

SightLine Partners manages venture funds that invest in late stage medical technology companies .

Exploring3 portfolio co.

Coral Capital Management

Coral Capital Management

VC

Minneapolis, MN

Check: $8.6M – $27.5M

[Coral Capital Management](http://www.coralcm.com) invests in technology driven companies with substantial intrinsic momentum led by strong management teams, with early demand indicators, such as...

Exploring10 portfolio co.

Black River Asset Management

Black River Asset Management

VC

Hopkins, MN

Check: $1.5M – $131.0M

Black River Asset Management an independently managed subsidiary of Cargill, Incorporated, is a global asset management company that provides sophisticated institutional investors with alternative...

Exploring16 portfolio co.

Bootstrappers.mn

Bootstrappers

VC

Saint Paul, MN

Check: $15K – Varies

Bootstrappers is a venture capital investment firm based in Saint Paul, Minnesota. They invest in Midwest tech startups, primarily through like-minded funds and accelerator programs, and occasionally...

Exploring2 portfolio co.

Convergent Capital

Convergent Capital

VC

Minneapolis, MN

Check: $2.0M – $27.3M

Convergent Capital is an investment company focused on providing growth and acquisition capital for businesses committed to long-term, sustainable growth in a broad range of industries. The firm's...

Exploring44 portfolio co.

Mayo Clinic Rochester

Mayo Clinic Rochester

Corporate

Rochester, MN

Check: $7.0M – $58.0M
BIOTECHIOT

Mayo Clinic Rochester, a not-for-profit group practice, provides diagnostic, treatment, and surgical services in the United States. The company offers heart care, cancer treatment, transplantation,...

Exploring48 portfolio co.

City of Shakopee

City of Shakopee

GOVERNMENT

Shakopee, MN

City of Shakopee (Minnesota) provides economic development resources and city services to help businesses start, grow, or relocate in Shakopee. Services include permits and licensing via the ePortal,...

Exploring26 portfolio co.

Michael Kerski

City of Shakopee

GOVERNMENT

Shakopee, MN

Exploring26 portfolio co.

Best Buy

Best Buy

Corporate

Richfield, MN

Check: $14.7M – $14.7M

Best Buy Co., Inc. operates as a specialty retailer in the United States, Canada, Mexico, China, and Europe. It offers consumer electronic video products, such as televisions, digital cameras and...

Exploring4 portfolio co.

Medtronic

Medtronic

Corporate

Minneapolis, MN

Check: $3.6M – $65.0M
BIOTECHIOT

Medtronic, Inc. (www.medtronic.com), headquartered in Minneapolis, is the global leader in medical technology — alleviating pain, restoring health and extending life for millions of people around the...

Exploring14 portfolio co.

Affinity Capital Management

Affinity Capital Management

VC

Minneapolis, MN

Check: $2.8M – $49.5M

Affinity Capital Management works with innovative and visionary companies and entrepreneurs to create groundbreaking improvements in health care. From exciting new devices and treatments, to improved...

Exploring11 portfolio co.

StarTec Investments

StarTec Investments

VC

Minneapolis, MN

Check: $1.5M – $1.5M

StarTec Investments, LLC. is a private venture capital firm founded in 1998 by Joy J. Lindsay and Thomas J. McLeod, Sr. The primary investment focus of StarTec is earlystage technology companies...

Exploring2 portfolio co.

St. Jude Medical

St. Jude Medical

VC

St. Paul, MN

Check: $15.0M – $45.0M

St. Jude Medical develops medical technology and services that focus on putting more control into the hands of those who treat cardiac, neurological and chronic pain patients worldwide. The company...

Exploring36 portfolio co.

North Sky Capital

North Sky Capital

VC

Minneapolis, MN

Check: $15.7M – $67.3M

At North Sky Capital, their experience spans 12 years and 12 private equity funds. They historically have offered Funds of Funds in the following areas: Venture Capital, Leveraged Buyout and...

Exploring6 portfolio co.

U.S. Bancorp

U.S. Bancorp

VC

Minneapolis, MN

Check: $6.0M – $250.0M

U.S. Bancorp is a diversified financial services holding company, headquartered in Minneapolis, Minnesota. It is the parent company of U.S. Bank, the fifth largest commercial bank in the United...

Exploring9 portfolio co.

BlueStream Ventures

BlueStream Ventures

VC

Stillwater, MN

Check: $6.0M – $57.0M

We are BlueStream Ventures, a venture capital partnership focused on technology companies in communications, enterprise and infrastructure software, storage and wireless markets. Our collaborative...

Exploring11 portfolio co.

David Russick

FRI Marketing

Angel

MN

Founder and Managing Director at Gopher Angels, a Minnesota-based angel network investing in scalable early-stage companies (Seed and Series A) across the US with a Midwest focus. Industry-agnostic...

Exploring54 portfolio co.

Joshua Stanley

Fieldbook Studio

Angel

MN

We are Minnesota’s most active investment network, supporting the Midwest startup community through angel investment, a shared knowledge bank, and elevated access to deal flow. We invest in scalable,...

Exploring9 portfolio co.

Brian Ormsby

Pantheon Solutions LLC

Shakopee, Minnesota

Exploring2 portfolio co.

Gopher Angels

Gopher Angels, LLC

Angel

Minnesota

DIGITAL HEALTHHEALTHCARE SAASENTERPRISE SAAS+4

Invest in scalable, early-stage Midwest companies (Seed and Series A) across industries including healthcare/health IT, enterprise SaaS, medical devices, agtech, food & beverage and CPG; provide...

ExploringDEI Focus8 portfolio co.

Explore Minnesota

About the Minnesota Startup Ecosystem

Minnesota is home to a thriving startup ecosystem with 24 investors and 5 startups in our directory. Key hubs include Minneapolis, Shakopee, Rochester.

The most active sectors in Minnesota include BIOTECH, IOT, CONSUMER. 1 investors have made recent investments, showing strong capital deployment activity in the region.

Local investors offer advantages beyond capital — regional network effects, knowledge of local market dynamics, and introductions to customers and partners. Geographic proximity often leads to more engaged board members and advisors.

Frequently Asked Questions

How many investors and startups are in Minnesota?
We track 24 investors and 5 startups in Minnesota. 1 investors have made recent investments, and 0 startups are generating revenue.
What is the typical check size for investors in Minnesota?
The average check size among investors in Minnesota is $23.7M. Check sizes vary by investor type — angels typically write smaller checks while VCs and funds invest larger amounts.
How do I connect with investors in Minnesota?
Upload your pitch deck on The Founders' Group landing page for a free AI analysis. Our matching algorithm considers sector focus, stage fit, check size, location, and thesis alignment to recommend the most relevant investors for your startup.
What sectors are most popular in Minnesota?
The most active sectors in Minnesota based on our data include BIOTECH, IOT, CONSUMER. However, investors and startups in our directory span all major sectors.
Which cities in Minnesota have the most startup activity?
The highest concentration of investors and startups in Minnesota is in Minneapolis, Shakopee, Rochester. These cities have the strongest local ecosystems for fundraising and startup growth.

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