Rally Ventures is a venture capital firm focused on backing early-stage business technology companies. It targets software and technology-enabled sectors such as cloud infrastructure, fintech, SaaS, security, AI/ML, developer tools, HR tech, health tech, productivity and collaboration, infrastructure, extended reality, and market tech. The firm emphasizes enterprise B2B opportunities with potential to create major new markets or transform existing ones, drawing on a long history of venture investing by its partners. The company is headquartered in Menlo Park, California, and maintains an office in Minneapolis, Minnesota, pursuing United States-based early-stage opportunities.

Bread and Butter Ventures is an early-stage venture capital firm based in Minneapolis, Minnesota. Founded in 2017, it invests at the seed stage in sectors such as foodtech, digital health and enterprise software as a service, with a global investment remit and strong access to regional and corporate networks. The firm is led by Brett Brohl and Mary Grove.

Great North Ventures is a venture capital firm based in Maple Grove, Minnesota, founded in 2017. The firm focuses on investing in entrepreneurs who leverage breakthrough technologies to transform industries that remain reliant on analog processes. Great North Ventures primarily targets disruptive technology companies across the United States, providing essential guidance, capital, and connections from seed stage to Series B. The firm is committed to identifying promising startups regardless of their geographic location, recognizing that innovative companies are emerging beyond traditional hubs like Silicon Valley. With a foundation built by successful founders, Great North Ventures emphasizes the importance of execution and the capability of their portfolio companies.

Founded in 2013, Matchstick Ventures is a venture capital firm based in Minneapolis, Minnesota. It supports the creation and growth of early-stage technology companies, primarily focusing on seed-stage investments across various sectors such as business products, services, information technology, and TMT.

Founded in 1863, Mayo Clinic is a non-profit organization based in Minnesota, United States. It provides comprehensive medical care services across various specialties, conducts extensive research, and offers education in clinical medicine.

New Enterprise Associates is a venture capital firm founded in 1977 and based in Menlo Park, California, with offices in the United States, India and China. It makes investments across technology and healthcare startups at multiple stages, from seed to growth, including software, cloud, data, internet services, fintech, AI, e-commerce, and enterprise technology, as well as healthcare information technology, life sciences, medical devices, and biopharma. It also considers energy technology and infrastructure opportunities, such as solar, batteries and smart grids. The firm pursues a global approach, with activity in the United States, Asia and other regions, and supports companies through rounds of financing ranging from small to sizable investments as they scale. NEA focuses on building portfolios in software, IT services, consumer technology, and healthcare technology, backing ambitious entrepreneurs across sectors and geographies.

Brightstone Venture Capital is a Minneapolis-based venture capital firm that concentrates on early-stage technology and life sciences companies in the United States. With a multi-decade track record of partnering with entrepreneurs to solve meaningful problems in large and growing markets, Brightstone has supported a range of technology and health-focused ventures, including BiteSquad, HomeSpotter, Definity Health, Verata AI, GRAVIE, Codestream, FlipGrid, AppTec Labs, HealthFitness, SpineTech and XioTech. The firm backs opportunities across B2B and B2C models in sectors such as software, pharmaceuticals and biotechnology, healthcare, information technology, artificial intelligence, virtual and augmented reality, cloud, cybersecurity, nanotechnology, and related tech-enabled industries, aiming to invest in early-stage opportunities within the United States.

Founded in 2012, Gopher Angels is an angel network based in Minneapolis, Minnesota. It comprises accredited investors passionate about fostering businesses in the region. The group supports outstanding entrepreneurs by providing financial backing alongside strategic guidance, valuable connections, and business support to help companies grow.

Vensana Capital is a Minneapolis based venture capital and growth equity firm focused on healthcare technology. It backs medical devices, diagnostics, life science tools, and data science oriented solutions, as well as tech enabled services that improve patient care and research outcomes. Founded in the late 2010s, the firm operates from Minnesota and pursues opportunities across stages in the healthcare sector, partnering with companies developing breakthrough medical technologies.

Split Rock Partners is a venture capital firm founded in 2004. It specializes in investing in early-stage companies within the emerging healthcare, software, and internet services sectors across the Upper Midwest and West Coast regions of the United States.

Arthur Ventures is a venture capital firm focused on early-stage technology companies, with an emphasis on B2B software and other information technology-enabled sectors. It backs startups across North America, including the United States and Canada, with a regional strength in the Great Plains and Upper Midwest and offices in Fargo and Minneapolis. The firm targets post-angel and pre-institutional rounds, participating in seed and early-stage financings and, in later stages, prefers syndication with other investors. Its investment scope covers information technology, life sciences, healthcare, and clean technologies, including software, hardware, web-based services, biotech, medical devices, biofuels, energy efficiency, and related enabling technologies. Arthur Ventures was founded in 2008.

Sofia Fund is an angel group and venture capital firm based in Minnesota that backs women-led, technology-based startups at the early stage. It focuses on information technology and managed services, business products and services, health and wellness, and clean technology, investing in areas such as software, data management, e-commerce, materials and energy efficiency. The firm typically provides small initial investments in one or two rounds and supports portfolio companies toward profitable exits within a few years. Its main office is in Minneapolis, reflecting a regional focus on founder-led ventures with diverse leadership.

Lemhi Ventures is a Minnesota-based venture capital firm that backs early-stage healthcare services companies in the United States. The firm invests across incubation, seed and growth rounds with a focus on disruptive healthcare service models, aiming to be a lead investor and frequently pursuing board seats or active partnerships in portfolio companies. It targets privately held U.S. businesses and does not invest in medical devices or the development of specific therapies.

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 of company development, with emphasis on discovery and development of novel therapeutics. It leverages deep investment, operating, and scientific expertise to take a hands-on approach to building companies. Since its inception, more than 65 portfolio companies have achieved successful acquisitions or IPOs, reflecting its track record of helping startups advance therapies, devices, and life sciences ventures. The firm focuses on medical devices, biotechnology, pharmaceuticals, and life sciences, including oncology. It aims to support early-stage and growth-stage companies across the United States, Canada, and Europe, enabling development across the healthcare continuum.

SightLine Partners is an investment firm based in Bloomington, Minnesota, with an additional office in Palo Alto, California. Founded in 2004, it concentrates on healthcare investments across the United States, including medical technology, medical devices, diagnostics, biotechnology, and healthcare services. The firm targets later-stage and growth opportunities, investing in private companies through preferred stock typically between $2 million and $8 million, with an expected exit within about five years. Its focus includes therapeutic areas such as vascular diseases, diabetes, neurology, cardiovascular and orthopedic care, oncology, and infectious disease, as well as senior care, home healthcare, specialty facilities, ancillary and alternate-site services, and healthcare outsourcing. The firm seeks US-based opportunities in late-stage and expansion ventures within healthcare, life sciences, and related sectors.

Dundee Venture Capital, established in 2010, is a venture capital firm headquartered in Omaha, Nebraska, with additional offices in Chicago, Minneapolis, and Saint Louis. The firm specializes in investing in early-stage technology companies, focusing on B2B SaaS, e-commerce, fintech, and supply chain technology sectors. Dundee typically invests between $0.25 million to $1 million in initial rounds, with a potential follow-on investment, and seeks board positions or observer roles. The firm's investment focus is on underserved capital markets across the United States, with a typical exit timeline of six to eight years. Dundee Venture Capital does not invest in companies requiring government approval for operation, such as those in bio, pharma, or life sciences sectors.

St. Paul Venture Capital, Inc. was a prominent venture capital and private equity firm founded in 1988 and based in Minneapolis, Minnesota, with additional offices in Boston and Silicon Valley. The firm primarily focused on investing in early-stage companies, while also considering later-stage businesses and middle-market management buyouts. Its investment strategy concentrated on sectors such as communications technology, software and services, and healthcare. St. Paul Venture Capital aimed to lead or co-lead initial investment rounds, with typical investments ranging from $2 million to $40 million. The firm was known for its substantial commitment of $3.0 billion in capital and had established several satellite funds to diversify its investment portfolio. However, it ceased operations on July 1, 2004, and subsequently split into two separate entities, Split Rock Partners and Vesbridge.

UnitedHealth Group Ventures is the corporate venture capital arm of UnitedHealth Group, focusing on investments in healthcare startups. The firm invests in businesses that enhance accessibility and affordability of healthcare services, with a particular interest in technology applications, new market entrants, and cost transparency initiatives.

Service Provider Capital is a venture capital firm established in 2014 and based in Colorado. The firm focuses on early-stage investments, notably seed-stage opportunities, and participates as a co-investor in Series A rounds led by institutional venture funds. Its portfolio interests span a broad range of technology sectors, including artificial intelligence, machine learning, blockchain, cybersecurity, e-commerce, education technology, fintech, hardware, information technology, robotics, health, and cannabis.

Founded in 1987, Canaan Partners is a global venture capital firm based in Menlo Park, California. With over $5 billion under management, the firm invests in early-stage technology and healthcare companies worldwide.

Sherpa Partners, LLC, established in 1997 and based in Edina, Minnesota, is a venture capital firm that previously invested in early-stage technology companies. It focused on information technology sectors such as software, networking, infrastructure, and telecommunications, with a regional preference for Minnesota-based companies. The firm typically invested between $250,000 and $1 million in companies with first round pre-money valuations under $10 million. As experienced operational managers, Sherpa Partners provided strategic guidance, infrastructure support, and management team development to help investee companies become market leaders. However, it is important to note that the firm is no longer actively investing.

Established in 1998, StarTec Investments is a U.S.-based venture capital firm headquartered in Minneapolis, Minnesota. It focuses on investing in early-stage technology companies, particularly those based in Minnesota.

M25 is a Chicago-based venture capital firm established in 2015 by Victor Gutwein and Mike Asem, focused on funding pre-seed and seed-stage technology startups in the Midwest. The firm supports portfolio companies across multiple industries, with a regional footprint spanning 24 Midwest cities in 11 states. Since its inception, M25 has backed more than 90 early-stage tech startups, aiming to accelerate growth and strengthen the Midwest startup ecosystem.

Brown Venture Group is a venture capital firm and accelerator based in Minnesota that focuses on incubation, seed and early-stage investments in technology startups. It specializes in supporting Black, Latino and Indigenous founders and aims to build and promote minority owned tech ventures through its venture studio activities, which develop and launch startups in addition to funding them. Founded in 2018, it operates in the Minneapolis–Saint Paul area.

Come Up Capital is a venture capital firm based in Minneapolis, Minnesota, established in 2016. With a fund size of $50 million, it specializes in investing in early-stage technology startups. While the firm primarily focuses on opportunities in the Midwest region, it remains open to pursuing promising ventures regardless of their location.

Headwater Ventures is a venture capital firm founded in 2021 and based in Minneapolis, Minnesota, focused on early-stage health technology investments. It backs technology solutions across health information technology, digital health, insurtech, fintech, artificial intelligence and machine learning, data analytics, and other tech-enabled health services.

Founded in 1961, Norwest Equity Partners is a leading middle market investment firm headquartered in Minneapolis, MN. The firm invests equity capital in companies that are leaders in their industry with proven business models and demonstrated profitability. NEP focuses on management buyouts, recapitalizations, and growth financings, often working with founder and family-owned companies. Targeted equity investment size ranges from $30 million to over $250 million, with desired industries including agriculture, business services, consumer, distribution, industrials, energy, and healthcare.

Established in 2018, NewBound Venture Capital is a consumer-focused venture capital firm specializing in investments at the seed and series A levels.

Founded in 2017, Loup Ventures is a research-driven venture capital firm based in Minneapolis, Minnesota with an additional office in New York. The company specializes in seed and early-stage investments, focusing on frontier technologies such as virtual reality, augmented reality, artificial intelligence, robotics, and related sectors.

Ulu Ventures is a Palo Alto, California-based seed and early-stage venture capital firm that backs technology-driven startups across the United States. Founded in 2008, it focuses on internet-enabled consumer and business services and a broad range of sectors including EdTech, FinTech, healthcare, sustainability, enterprise IT, SaaS, IoT, digital media, mobile, agtech, and marketplaces. The firm emphasizes backing diverse entrepreneurial teams and typically engages in co-investments with other investors to pursue meaningful exits. It is described as the first Latina-led venture fund in Silicon Valley and is among the larger seed-focused vehicles in the region.

NDI Medical LLC, Investment Arm is a venture capital firm specializing in seed and startup stage investments. It seeks to invest in the medical equipment, neurodevices, medical devices, stimulators, leads, surgical equipment and software to treat illnesses of the brain and nervous system sectors. NDI Medical, Investment Arm was founded in 2002 and is based in Cleveland, Ohio with additional offices in Chapel Hill, North Carolina and Minneapolis, Minnesota.

Venture Investors is a Midwest-based venture capital firm that funds seed, early, and growth-stage startups and provides incubation financing. It concentrates on university technology transfer opportunities, particularly in the Midwest, and invests across healthcare, life sciences, agriculture, technology, clean tech, materials, energy, and hardware, including software and digital health. The firm backs companies licensed to research universities, including institutions such as the University of Wisconsin–Madison, and seeks opportunities with significant market potential and solid fundamentals. Seed investments typically range from 0.25 million to 2.5 million, with larger follow-ons possible, and the firm aims to lead rounds while also co-investing. It favors preferred equity and/or debt with warrant coverage and pursues exits through initial public offerings or sales after about five to seven years. Established in 1982, Venture Investors is headquartered in Madison, Wisconsin, with additional offices in Ann Arbor, Michigan, and Milwaukee, Wisconsin.

Breakthrough Energy Ventures is an investor-led venture capital firm based in Kirkland, Washington, focused on climate and energy technology. It makes minority investments across seed, early, and later stages in companies delivering environmental services, climate technology, and cleantech solutions. The firm seeks scalable technologies that provide reliable, affordable power while reducing greenhouse gas emissions and supports innovations that address energy access, infrastructure, and transportation needs. Its mission emphasizes patient, impact-oriented investing to accelerate the transition to low-emission energy systems.

Established in 1998, SecretLab is a venture capital firm headquartered in Minneapolis, Minnesota. It focuses on investing in early-stage companies within the B2C and technology sectors.

Parceiro Ventures is a venture capital firm based in Minneapolis, Minnesota, with a focus on Brazil. The firm specializes in investing in high-quality B2B software businesses, aiming to support and nurture innovative companies within this sector. By concentrating on the Brazilian market, Parceiro Ventures seeks to capitalize on the growing demand for effective software solutions tailored to business needs.

The Gramercy Fund is a venture capital firm established in 2006, specializing in seed and early-stage investments. It focuses on sectors such as web services, mobile payment, social media, edtech, and biotech, investing up to $2.5 million per company.

Oak Investment Partners is a Connecticut-based multi-stage venture capital and private equity firm founded in 1978. It targets 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, spinouts, growth equity, mid-to-late stage financings, and private investments in public equity, as well as startup and emerging growth ventures, recapitalizations, and industry consolidation. Typical investments range from ten to one hundred fifty million dollars. Oak primarily invests in the United States with selective activity in Europe, Israel, India, South Korea and China. It maintains offices in Connecticut, California and Minnesota, and has deployed billions of capital across hundreds of companies, offering senior guidance and sector expertise.

Atland Ventures is a student-run venture capital firm based in Minneapolis, Minnesota, established in 2016. It focuses on investing in early-stage companies across various sectors, including financial services, edTech, consumer and consumer social, marketing, ad tech, the creator economy, human-computer interaction, and health and wellness. The organization operates independently of the University of Minnesota, meaning it is not supervised or controlled by the institution and the university is not responsible for its actions or statements. Atland Ventures aims to provide valuable support and funding to innovative startups.

Founded in 1990, Coral Group is a venture capital firm based in Minneapolis, Minnesota. It specializes in investing in technology companies operating in the communications, software, enterprise computing, and media sectors across the United States, Israel, Europe, Asia, and Latin America.

Founded in 1997 and based in Minneapolis, Minnesota, Technology Venture Partners is a venture capital firm specializing in growth equity investments across various stages of technology and healthcare companies. The firm seeks to invest in sectors with significant growth potential.

301 is the corporate venture capital arm of General Mills, based in Minneapolis, Minnesota. Founded in 2012, it partners with emerging food brands and makes direct equity investments in early-stage food businesses to support breakthrough innovations and help build successful brands.

Vesbridge Partners is a venture capital firm founded in 2004 and based in Minnetonka, Minnesota. It concentrates on early-stage technology investments, including mobile and wireless, digital media, web services, security, and information technology infrastructure, with additional focus on software-enabled sectors such as networking technology, data centers, enterprise IT, and storage.

3C Capital Partners was an angel investment group based in Northfield, Minnesota, founded in 2007. As a member of the RAIN Fund Network, it collaborated with other angel investors to collectively fund startups and growing companies. The firm primarily focused on investments in seed-stage, early-stage, and later-stage companies, particularly within the information technology and telecommunications, media, and technology sectors in Minnesota. Through its affiliation with RAIN Source Capital, 3C Capital had access to a wide range of resources, including capital, due diligence processes, legal templates, and management support, allowing it to engage effectively in deal flow. However, the firm is no longer in operation.

EverStream Energy Capital Management is a global asset management firm focused on energy infrastructure and renewable projects. It invests in energy infrastructure assets, including solar and wind generation, natural gas production, storage, and transportation assets that facilitate cleaner energy use. Headquartered in Wayzata, Minnesota, with offices in Madrid, Washington, D.C., San Francisco, and Tokyo, the firm pursues opportunities across the United States, Latin America, Europe, and Asia.

Established in 2016, Allianz Life Ventures is the venture capital arm of Allianz Life Insurance Company of North America. Based in Minneapolis, Minnesota, it invests in technology-focused companies operating within life insurance, employer markets, advisory channels, and retiree services sectors across North America.

Founded in 2011, Traction Capital is a hybrid private equity and venture capital firm based in Wayzata, Minnesota. It invests in early-stage and lower-middle-market companies across various sectors including business-to-consumer/business-to-business services, technology, information services, mobile software, SaaS, business services, niche manufacturing, consumer products, and technology-enabled solutions.

Tundra Ventures is a venture capital firm located in Minneapolis, Minnesota, specializing in early-stage investments. The firm targets opportunities in technology, health, and consumer packaged goods, with a particular emphasis on underinvested identities, geographies, and end-users. By focusing on these areas, Tundra Ventures aims to identify and support innovative companies that may be overlooked by traditional investors.

Established in 2021 and based in Maple Grove, Minnesota, Gravity Fund is an early-stage venture capital firm. It invests in innovative founders developing cutting-edge technology across sectors such as consumer marketplaces, fintech and crypto, enterprise software, and life sciences.