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.

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.

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.

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.

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 activity in the Upper Midwest and West Coast. Originating from the former St. Paul Venture Capital healthcare and software teams, the firm leverages decades of venture investing and entrepreneurial management to partner with founders and help build scalable businesses. Split Rock employs flexible investment structures, including primary, direct secondary and blended arrangements, and targets companies across seed to late-stage rounds, often seeking to lead or co-lead and to take a board seat. The portfolio emphasizes healthcare devices and software-enabled platforms, web-based services, and enterprise infrastructure, with a preference for opportunities that can reach large markets and strong margins.

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.

Endeavour Vision is an investment firm focused on growth-stage medical technology and digital health companies in Europe and North America. The firm backs medical innovations that deliver superior patient outcomes or drive efficiencies for health systems, and it provides strategic and operational expertise along with international market insight. With a track record of successful exits such as Vertiflex, Medartis, and Symetis, Endeavour Vision supports portfolio companies through multiple growth stages. The organization maintains offices in Geneva, Switzerland, and Minneapolis, United States.

Vensana Capital is a Minneapolis-based venture capital and growth equity firm focused on healthcare technology, supporting breakthrough innovations in medical devices and related fields. The firm targets medtech, data science-oriented solutions, life science tools and diagnostics, and tech-enabled services, helping early-stage and growth opportunities in the healthcare sector. Founded in the late 2010s, it operates as a registered investment adviser and concentrates its investments in medical technology and healthtech companies, aiming to advance innovative products and tools that improve patient outcomes.

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.

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.

M25 is a Chicago-based venture capital firm focused on the Midwest. Founded in 2015, the firm backs pre-seed and seed-stage technology startups headquartered in the Midwest, with a broad portfolio across multiple industries. Led by Victor Gutwein and Mike Asem, M25 has funded numerous early-stage companies and established a notable presence in the Midwest startup ecosystem. The firm emphasizes an analytical, collaborative approach and seeks to partner with founders to support growth, product development, and market expansion. Its investments span sectors including software and information technology, healthcare technology, consumer products and services, business products and services, and financial services. Through its regional focus and extensive network, M25 aims to accelerate startup activity across cities in the Midwest and Great Lakes, contributing to regional innovation and economic development.

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.

Capita3 is a venture capital firm based in Minneapolis, Minnesota, with an additional office in San Francisco, focused on early-stage investments in women-led startups across the United States. It targets health-sector companies in digital health, telehealth, genomics and bio information technology, human health and food-as-medicine, seeking opportunities in large B2C and B2B markets and prioritizing diversity and inclusion.

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.

iSelect Fund is a venture capital firm based in Saint Louis, Missouri, established in 2014. It concentrates on early-stage investments in agriculture, food tech, healthcare and life sciences, as well as software, targeting opportunities in the United States, Canada, Europe and the Americas, with a regional emphasis on the Midwest and Great Lakes. The firm backs seed through growth rounds, including series seed, A and B, and supports companies in plant sciences, seed genetics, sustainability, immunotherapy and personalized medicine, as well as consumer health and B2B software. Its geographic scope covers core U.S. markets such as St. Louis, Kansas City, Minneapolis, Chicago, Cleveland, Denver and Houston, with broader reach into international opportunities, including India. As an investment adviser, iSelect Fund aims to connect innovative startups with capital and strategic guidance to advance food and health systems.

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.

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.

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.

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.

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.

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.

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.

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.

Alloy Labs is an ecosystem created by community banks to accelerate innovation in financial services. Based in Saint Paul, Minnesota, it centers on three hubs: the Alloy Labs Alliance, a nationwide network of about 90 banks with more than 250 billion in assets that collaborates to access resources of larger institutions while maintaining local control; the Institute, which applies tools, frameworks, and best practices to mitigate risks and unlock growth; and a venture-capital component that connects member banks with vetted fintech firms to explore new technologies. The ecosystem aggregates insights across hubs, and participants benefit from network effects that extend the value of collaboration across the entire platform.

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.

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.

Oak Investment Partners is a multi-stage venture capital and private equity firm founded in 1978 and based in Connecticut, with offices in Greenwich, Norwalk, Palo Alto and Minneapolis. 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, growth equity, mid-to-late stage financings, startup investments, emerging growth, recapitalizations and PIPE investments in public companies. Typical commitments range from 10 million to 150 million. Since inception it has invested billions in over 525 companies worldwide, combining senior guidance, domain expertise and a consistent investment philosophy. Primarily United States focused with selective investments in Europe, Israel, India, South Korea and China.

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.

Gravity Fund is a Maple Grove, Minnesota-based venture capital firm founded in 2021 that makes early-stage investments in technology-driven companies. It follows a thesis-driven approach across sectors including consumer marketplaces and applications, fintech and crypto, enterprise software, and life sciences, supporting founders who are building technology with near-term commercialization potential.

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.

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.

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.

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.

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.

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.

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.

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.

Seyen Capital is a venture capital firm based in Chicago, Illinois, founded in 2007. It concentrates on growth-stage investments in information technology and software companies, including healthcare IT, digital health, health technology, and SaaS, primarily in the United States. The firm typically invests between $5 million and $15 million per portfolio company and seeks to be the lead or first institutional investor, often taking a seat on the board and partnering with management teams and co-investors. Its target geographies include Chicago, Nashville, Minneapolis, Atlanta, Dallas, Austin, Denver, Tampa, Philadelphia, and New York.

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.

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.

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.

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.

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.

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.