Startup investors in Minneapolis–St. Paul
The angel network and state venture program that take applications from Minneapolis, St. Paul and Minnesota founders, what each publishes about itself, and how to reach it.
All amounts are in US dollars.
Who invests in startups in Minneapolis–St. Paul?
Minnesota founders can apply to Gopher Angels, which prefers Minnesota companies raising $50,000 to $1 million, and to the state's SSBCI Direct VC Investment program, run by the University of Minnesota and DEED, which invests in seed and early-stage Minnesota startups that already have a lead investor.
Angel networks in Minneapolis–St. Paul
| Network | How it works | Who it looks for | Fees | How to apply |
|---|---|---|---|---|
| Gopher Angels | Accredited angels who share due diligence and decide together | Companies with market validation beyond a plan (a working prototype, beta testing or revenue), raising $50,000 to $1 million. Minnesota-based preferred; MN Angel Tax Credit eligibility preferred but not required | Not published | Apply Here link to its Gust profile |
Funds that invest in Minneapolis–St. Paul startups
| Fund | Stage | Published first cheque | Focus and eligibility | How to pitch |
|---|---|---|---|---|
| Minnesota SSBCI Direct VC Investment | Seed and early stage | Not published | Minnesota startups with a lead investor in the current round | Email [email protected] with a deck covering overview, team, business model, cap table, current investors and the term sheet |
Programs that put founders in front of investors
No Twin Cities accelerator with published terms and an open application was confirmed for this page.
Which route fits your company?
| If your situation is… | Look at | Why |
|---|---|---|
| Minnesota company with market validation, raising $50,000 to $1 million | Gopher Angels | Its published criteria |
| Raising over $1 million, with a lead lined up | Gopher Angels | Its stated condition above $1 million |
| Minnesota seed or early-stage startup with a lead and a term sheet | Minnesota SSBCI Direct VC Investment | Its published criteria |
Meeting an organization's criteria means you can apply, not that it will invest.
Secure the lead before the state.
Minnesota's SSBCI program and Gopher Angels (above $1 million) both expect a lead investor. Line one up first.
What should you have ready before you apply?
- Evidence of market validation: a prototype, beta users or revenue.
- A cap table and your current term sheet, for the SSBCI program.
- A Gust profile, for Gopher Angels.
For how to run the raise itself, see how to raise a seed round.
Frequently asked questions
How much can I raise through Gopher Angels?
It considers raises of $50,000 to $1 million. Above $1 million, it asks you to secure a lead investor first.
Do I need to be in Minnesota for Gopher Angels?
Minnesota-based companies are preferred, not required.
How do I apply to Minnesota's SSBCI venture program?
Email [email protected] with a company deck, cap table, current investors and the term sheet for your round.