Rally Ventures is a Menlo Park, California-based venture capital firm founded in 2012 that concentrates on early-stage technology companies, primarily in enterprise software and business technology. It backs startups across AI and machine learning, cybersecurity, fintech, HR tech, developer tools, health tech, market tech, infrastructure, productivity and collaboration, SaaS, and extended reality, including cloud infrastructure and security. The firm provides capital and operational support to U.S.-based early-stage companies that aim to create major new markets or transform existing ones, and maintains a footprint in Minnesota with offices in Minneapolis and Minnetonka.

Bread and Butter Ventures is an early-stage venture capital firm based in Minneapolis, Minnesota. It provides seed-stage capital to startups globally, with a focus on agriculture technology, food technology, health technology, and enterprise SaaS. Led by partners Brett Brohl and Mary Grove, the firm emphasizes leveraging regional and industry connections to help portfolio companies access strategic opportunities and markets.

Great North Ventures is a venture capital investment firm founded in 2017 and based in Maple Grove, Minnesota. It backs entrepreneurs using breakthrough technologies to modernize industries still dominated by analog processes, supporting startups from seed to Series B with guidance, capital, and connections. The firm looks for standout teams and execution capability, and it seeks opportunities beyond Silicon Valley, focusing on US-based founders and startups wherever they are located.

Matchstick Ventures is a Minneapolis-based venture capital firm founded in 2013 that backs early-stage technology startups across the United States, from seed to growth rounds. The firm focuses on business products, business services, information technology, and TMT, and seeks opportunities in underserved startup ecosystems. It has raised multiple funds to support its investments and typically makes investments of roughly 0.5 to 1.5 million USD per company.

Mayo Clinic is a non-profit medical organization based in Rochester, Minnesota, established in 1863. It provides comprehensive medical care, education in clinical medicine and biomedical sciences, and conducts extensive medical research across a broad range of specialties. The organization integrates patient care with education and research to advance medical practice and outcomes. It also advances innovation through Mayo Clinic Platform, a Rochester-based accelerator that incubates and invests in early-stage health-tech startups in collaboration with providers, pharmaceutical and device companies, health-tech developers, and patients; and Mayo Clinic Ventures, the organization's venture arm that partners with physicians and scientists to commercialize inventions and discoveries to improve patient care and support Mayo’s education and research missions.

Brightstone Venture Capital is a Minneapolis-based venture capital firm founded in 1985 that targets early-stage investments in technology and life sciences companies in the United States. The firm seeks opportunities across B2B, B2C, healthcare, information technology, artificial intelligence, virtual reality, augmented reality, cloud technology, cybersecurity, nanotechnology, space technology, and related tech-enabled sectors.

Gopher Angels is an angel network based in Minneapolis, Minnesota. It consists of accredited investors who fund US-based startups, with a preference for Midwest geographies. The network focuses on healthcare and health information technology, enterprise software and SaaS, medical devices, and agriculture technology, and provides strategic guidance, valuable connections, and business support to portfolio companies.

Vensana Capital is a Minneapolis-based venture capital firm focused on healthcare and breakthrough medical technology. Founded in 2019, it backs medical devices, data science-driven solutions, life science tools and diagnostics, and tech-enabled services, spanning early-stage to growth investments. The firm targets healthcare technology systems and healthtech sectors and operates as a registered investment adviser.

Arthur Ventures is a Minneapolis-based venture capital firm that backs early-stage technology companies, with a focus on B2B software and related information technology sectors. It primarily targets opportunities in the United States and Canada, with activity across North America and Western Europe. The firm operates from Fargo and Minneapolis and seeks to partner with startups in the software, services, and broader tech-enabled fields to support growth and scale.

Split Rock Partners is a venture capital firm founded in 2004 and based in Eden Prairie, Minnesota. It focuses on early-stage investments in healthcare, software and internet services, with a geographic emphasis on the Upper Midwest and West Coast. The firm invests across all stages—from seed to late stage—and employs flexible structures, including primary investments, direct secondaries and blended deals. It backs companies in areas such as web-based services, enterprise software, cloud services, analytics and marketing technology, aiming for businesses capable of reaching sizable markets with strong margins. The team emphasizes partnering with entrepreneurs, often leading or co-leading rounds and taking board seats to support growth.

New Enterprise Associates is a U.S.-based venture capital firm founded in 1977 and headquartered in Menlo Park, California. It invests in technology and healthcare companies across stages and geographies, supporting startups from seed to growth. The firm operates globally with investments in the United States, Asia, and Brazil among others, and has a long track record of portfolio IPOs and acquisitions. It has over $19 billion in cumulative committed capital.

UnitedHealth Group is a diversified health care company in the United States, offering consumer-oriented health benefit plans and a range of health services through its UnitedHealthcare and Optum divisions. UnitedHealthcare administers medical benefits and related services for individuals and employers, while Optum provides care delivery networks, health management, analytics, software and information services, and pharmacy care through OptumRx. Together, these units span health insurance, care delivery, data analytics, and health technology, serving government programs, employers, and individuals. The group is among the largest providers in the sector, with a broad global footprint and a focus on leveraging clinical data and technology to streamline administrative processes, support decision-making, and improve care access and affordability. Through its analytics and technology platforms, UnitedHealth Group aims to advance preventive care, chronic disease management, and cost transparency across the health system.

Lemhi Ventures is a Minnesota-based venture capital firm focused on healthcare services and healthcare technology systems. Founded in 2006, it targets early and seed-stage investments in U.S. companies and participates across the development cycle, including incubation, follow-on funding and growth capital. The firm favors leading investments, seeks partnerships and co-investment opportunities, and often takes board seats or partners with portfolio companies to support growth and strategic development. It avoids medical devices and the development of specific therapies, instead backing disruptive business models in healthcare services. Based in the Minneapolis-St. Paul area, with ties to Wayzata and Minnetonka, it operates as an investment adviser.

Founded in 2010, Omphalos Venture is a venture capital firm headquartered in Shakopee, Minnesota. It invests in early-stage companies across various sectors including healthcare services, SAAS, manufacturing, robotics, AI, and sensor technology.

Affinity Capital Management, founded in 1993 by Edson Spencer, is a Minnesota-based firm that provides investment services specifically for the healthcare technology sector. The company focuses on identifying and supporting innovative companies within this industry, aiming to drive growth and enhance value for its clients. With a commitment to the healthcare technology landscape, Affinity Capital Management leverages its expertise to assist firms in navigating the complexities of investment and development in this rapidly evolving field.

Versant Ventures is a healthcare-focused venture capital firm founded in 1999 and based in San Francisco, with offices in Canada, the United States and Europe. The firm invests across the healthcare sector at all stages, with an emphasis on discovery and development of novel therapeutics, and portfolios spanning biotechnology, pharmaceuticals, life sciences, healthcare devices and healthtech. Versant combines deep investment, operating and scientific expertise to support entrepreneurs through hands-on company building. It has backed more than 65 portfolio companies that have achieved acquisitions or IPOs.

SightLine Partners is a venture capital and private equity firm based in Bloomington, Minnesota, with an additional office in Palo Alto. It specializes in late‑stage and growth investments in the United States healthcare sector, including medical technology, medical devices, diagnostics, biotechnology, and healthcare services. The firm favors later‑stage opportunities and expansion transactions, investing primarily through preferred stock and operating as an SBIC. It targets therapeutic areas such as vascular diseases, diabetes, spine, stroke prevention and pulmonary disease, as well as nervous system and immune disorders, cardiovascular care, orthopedics, home healthcare, oncology, and infectious diseases. SightLine Partners also backs healthcare providers, including senior care, specialty facilities, ancillary and home care services. Typical commitments range from roughly $2 million to $8 million, with an exit horizon around five years. The firm is a registered investment adviser and focuses on U.S.-based companies rather than startups.

Dundee Venture Capital is a venture capital firm founded in 2010 and based in Omaha, Nebraska, with additional offices in Chicago, Minneapolis and Boulder. It targets seed and post-seed technology investments across the United States, focusing on B2B software and SaaS, commerce and fintech, and supply chain technologies, including e-commerce infrastructure. Typical initial commitments range from about 0.25 to 0.75 million dollars, with potential follow-on investments to support growth. The firm often takes board seats or observers in lead rounds to help portfolio companies scale, emphasizing technology-enabled businesses in underserved U.S. markets. Dundee avoids sectors requiring government approval and seeks opportunities across a broad range of software, e-commerce, and related services that can reach nationwide audiences.

Service Provider Capital is a Colorado-based venture capital firm founded in 2014 that funds seed-stage technology companies across domains such as artificial intelligence, machine learning, blockchain, cybersecurity, fintech, e-commerce, education technology, hardware, robotics, information technology, health tech, and cannabis. The firm also co-invests in Series A rounds led by institutional venture funds, providing capital and guidance to startups in the United States, including the Midwest and Southeast regions.

Canaan Partners is a San Francisco-based venture capital firm founded in 1987 that operates globally with offices in Israel and India. It focuses on early-stage investments in technology and healthcare, including software, fintech, enterprise/cloud, marketplaces, digital health, biopharma, and medtech, and it has a history of backing startups that achieve exits.

Engage Venture Partners is a Minneapolis-based venture capital firm founded in 2022 that backs early-stage health care technology companies. The firm focuses on seed to Series A rounds and targets medical devices, digital health, healthcare information technology, and healthcare software as a service, primarily supporting startups based in Minnesota and the broader Midwest.

StarTec Investments is a venture capital firm founded in 1998 and based in Minneapolis, Minnesota. It focuses on early-stage technology companies, prioritizing Minnesota-based opportunities. The firm seeks investments in ventures with experienced management teams, proprietary technologies, market validation, compelling value propositions, and growing markets, aiming to support their development through the early growth phase.

Brown Venture Group is a Minnesota-based venture capital firm, accelerator, and venture studio focused on Black, Latino, and Native American technology startups. Founded in 2018 and based in the Minneapolis–Saint Paul area, the firm concentrates on seed and early-stage investments and incubation programs, supporting minority-owned tech ventures through funding and hands-on startup building.

Come Up Capital is a venture capital firm based in Minneapolis, Minnesota. Founded in 2016, it invests in technology startups at the early stage, with a primary focus on the Midwest but pursuing opportunities beyond the region.

Headwater Ventures is a venture capital firm founded in 2021 and based in Minneapolis, Minnesota. It focuses on early-stage investments in the health technology sector, backing companies that develop health information technology, digital health, and other tech-enabled health care solutions. The firm also targets related areas such as insurtech, fintech, AI/ML, data analytics, and tech-enabled services that support health care delivery and health systems.

M25 is a Chicago-based venture capital firm focused on the Midwest. Founded in 2015, it backs pre-seed and seed-stage technology companies headquartered in the Midwest and Great Lakes region, and has invested in more than 90 startups across numerous cities and states. Led by Victor Gutwein and Mike Asem, M25 employs an analytical, collaborative approach to portfolio-building across software, information technology and other tech-enabled sectors. The firm aims to support the regional startup ecosystem by providing early-stage capital and guidance to founders as they scale their businesses.

NewBound Venture Capital is a consumer-centric venture capital firm that focuses on Seed and Series A investments in consumer products and services. Founded around 2018–2019 and formerly known as Excelsior Financial Partners, the firm positions itself to back early-stage consumer-focused startups.

Coral Group is a Minnesota-based investment firm active in venture capital and private equity, founded in the early 1990s. It focuses on technology-related companies across the United States and beyond, investing across seed, early, and growth stages as well as fund-of-funds opportunities. The firm targets telecommunications, wireless and wireline networks, systems, software and services, Internet and media sectors, with a geographic reach that includes the United States, Israel, Europe, Asia and Latin America. Coral Group engages in direct venture investments as well as indirect fund investments and typically takes board seats in portfolio companies. It operates an integrated framework that combines venture activities with strategic services through capabilities such as Strategic Projects and Industry Platforms, and it runs Coral Ventures as a venture arm. The group is headquartered in Minneapolis and maintains additional offices in Denver, San Bruno, San Francisco, Israel and Atlanta.

3C Capital Partners is an angel investment group based in Northfield, Minnesota. It is a member of the RAIN Fund Network, which unites individual angel investors to collectively source and support early‑ and growth‑stage companies by sharing deal flow and providing capital, due diligence support, templates, and other resources. Through its network affiliation, 3C Capital Partners participates in sourcing opportunities and assisting portfolio companies in their development, leveraging a collaborative platform that connects Minnesota‑based opportunities with a broader investor community.

Vesbridge Partners was a venture capital firm that invested in early-stage technology companies. The firm's focus included networking technology, information technology infrastructure, wireless and mobility, digital media, web services, security, data center and storage, as well as opportunities in hardware, electronics equipment, metalworking machinery, retail, and healthcare. Reports place its operations in the United States with bases cited in Minnesota and Massachusetts. Vesbridge Partners reportedly ceased operations in 2014, ending its venture investing activities.

Parceiro Ventures is a venture capital firm that focuses on B2B software companies. It is described as based in Minneapolis, Minnesota, by PitchBook and as Brazil-focused by Crunchbase, reflecting a regional emphasis in its investments. The firm targets best-in-class B2B software businesses.

Tundra Ventures is a venture capital firm based in Minneapolis, Minnesota. It concentrates on early-stage investments in technology, health, and consumer packaged goods, with an emphasis on opportunities arising from underinvested identities, geographies, and end-users.

The Gramercy Fund is a venture capital firm founded in 2006 and based in New York, with additional offices in La Jolla, California, and Minneapolis, Minnesota. It pursues seed and early-stage investments across web services, mobile payments, social media, edtech, and biotech, and typically invests up to $2.5 million per company, either as a sole investor or alongside other backers.

Oak Investment Partners is a venture capital and private equity firm founded in 1978 and based in Connecticut. It operates as a multi-stage investor, focusing on high-growth opportunities in information technology, internet and consumer sectors, financial services technology, healthcare information and services, and clean energy. The firm engages in buyouts, growth equity, mid- to late-stage financings, spinouts and PIPE investments in private and public companies, typically targeting investments from about 10 million to 150 million dollars. Oak supports startups, emerging growth companies and recapitalizations, offering deep domain expertise and steady guidance across its portfolio. While primarily investing in the United States, it pursues selective international opportunities in Europe, Israel, India, South Korea and China, and operates from offices in Connecticut and other major U.S. hubs.

Technology Venture Partners is a venture capital firm based in Minneapolis, Minnesota, established in 1997. It focuses on growth-oriented technology companies across all stages and targets technology and healthcare sectors, offering capital, industry expertise, and strategic guidance to help founders scale and build successful businesses.

301 is the corporate venture capital arm of General Mills, based in Minneapolis, Minnesota. It partners with emerging food brands and makes direct equity investments in early-stage food businesses to support breakthrough innovations and help these brands scale.

Atland Ventures is a student-run venture capital firm based in Minnesota, led by students at the University of Minnesota. It backs early-stage startups across sectors including edTech, consumer and creator economies, marketing and ad tech, human-computer interaction, and health and wellness.

Lake Country Capital is a debt and equity investment firm that provides transitional and growth capital to U.S.-based lower middle-market companies. The firm targets sectors including manufacturing, business services, consumer-related, and medical/healthcare. It primarily invests in debt securities, including senior and subordinated debt, as well as structured equity. Lake Country Capital collaborates with management teams, business owners, and private equity firms to fund growth initiatives, recapitalizations, and ownership transitions. The firm maintains offices in Minneapolis and Los Angeles.

Imperative Ventures is a venture capital firm based in Stillwater, Minnesota, focusing on hard tech startups that decarbonize core industries. It invests across energy, manufacturing, transportation, agriculture technology, clean tech, construction technology, infrastructure, healthcare, and life sciences, supporting innovations that reduce carbon intensity and advance sustainable industrial modernization.

Rice Park Capital is a Minnesota-based real estate investment and venture capital firm founded in 2018. The company focuses on real estate technology, financial technology, and the residential real estate sector, and pursues growth capital opportunities in real estate and related financial services. It aims to deliver cycle-resistant returns by unlocking value in complex opportunities across residential and commercial mortgage and real estate markets, serving institutions in the real estate, mortgage, and financial services industries.

Three Bridges Private Capital is a venture capital firm based in Minneapolis, Minnesota, that provides flexible capital for venture capital and private equity opportunities and targets investments in technology, software-as-a-service, media, and telecommunications sectors.

EverStream Energy Capital Management is a Minnesota-headquartered asset management and private equity firm that invests in energy infrastructure and renewable energy projects. Founded around 2011–2012, the firm targets late-stage and growth investments across solar, wind, and natural gas infrastructure, including production, storage, and transportation assets and related off-take contracts. It manages funds and pursues project acquisitions in the United States, Latin America, Europe, and Asia, with typical transaction sizes of about $5 million to $20 million and exit horizons of six to twelve years. The firm maintains offices in Wayzata, Minnesota; Madrid; Washington, D.C.; San Francisco; Tokyo; and Miami, reflecting a global footprint focused on expanding sustainable energy infrastructure.

RAIN Source Capital is an organization based in Minneapolis, Minnesota, established in 1998, that supports the formation of regional angel investor funds by providing legal templates, investment tools, management expertise, and financing experience to accredited investors. It facilitates early-stage investments through these networks, enabling members to participate in venture opportunities.

Traction Capital is a venture capital and growth equity firm based in Wayzata, Minnesota. Since its founding in 2011, it invests in early-stage and lower-middle-market companies across sectors such as business-to-consumer and business-to-business, technology, information services, mobile software, SaaS, business services, distribution, niche manufacturing, consumer products, and technology-enabled solutions, primarily in the Midwest with a focus on Minnesota.

Gravity Fund is a venture capital firm founded in 2021 and based in Maple Grove, Minnesota. The firm pursues early-stage investments through a thesis-driven approach, backing technology-focused startups across consumer marketplaces and applications, fintech and crypto, enterprise software, and life sciences. It seeks extraordinary founders developing cutting-edge technologies on the brink of commercialization.

Allianz Life Ventures is the corporate venture capital arm of Allianz Life Insurance Company of North America, based in Minneapolis, Minnesota. Founded in 2016, it pursues investments in technology, life insurance, employer markets, advisory channels, and retiree services companies across North America, aiming to leverage Allianz Life's financial strength and in-house expertise to support its portfolio partners.

Mairs & Power Venture Capital is a venture capital firm based in Saint Paul, Minnesota, founded in 2021, that partners with high-potential venture-stage companies in the Upper Midwest and invests across software, business services, healthcare, fintech, edtech, and other high-growth sectors.

Venture Investors is a Wisconsin-based venture capital firm that concentrates on seed and early-stage investments in healthcare, life sciences, diagnostics, therapeutics, medical devices, digital health, and related technology sectors. Headquartered in Madison with offices in Ann Arbor and Milwaukee, it seeks opportunities linked to university technology transfer and licenses from research institutions, particularly in the Midwest. The firm typically makes seed investments ranging from approximately 0.25 million to 2.5 million and can lead or co-invest, often investing in preferred stock and/or debt with warrant coverage. It targets companies with meaningful market potential and a constructive path to exit within five to seven years, through an initial public offering or strategic sale. While rooted in the Midwest research ecosystem, Venture Investors also evaluates nationwide opportunities aligned with its healthcare and technology portfolio.

Breakthrough Energy Ventures is an investor-led venture capital firm based in Kirkland, Washington, providing patient capital to climate and energy technology companies across seed, early, and later stages. It concentrates on environmental services, climate change, climate technology, and cleantech, investing minority stakes to back technologies that deliver reliable, affordable power while reducing emissions and advancing zero-emission energy solutions.

Ulu Ventures is a Palo Alto, California-based seed- and early-stage venture capital firm focused on technology-driven startups across IT, software, internet-enabled services, EdTech, FinTech, IoT, digital media, and related sectors in the United States, with a Bay Area emphasis. Founded in 2008, the firm backs diverse entrepreneurial teams and frequently co-invests with other angels or venture funds in early rounds. Ulu is noted as the first Latina-led venture fund in Silicon Valley and is among the largest in the country by assets under management, with over $200M.