MHTA — Minnesota companies raised nearly $118 million in venture capital in the second quarter of 2016, according to data from Thomson Reuters and the PwC/NVCA MoneyTree™ Report.
The $118 million raised was strong increase from last quarter, when Minnesota companies raised $54 million. It is also up from the year-ago quarter, where companies raised $71 million.
Top industries for venture capital in Q2 included:
- Medical Devices and Equipment – $47 million
- Financial Services – $44 million
- Software – $21 million
CVRx led the way with a $46 million investment, followed by Bright Health at $40 million.
More information can be found in the infographic below.
Early this year, we released a report that examines venture capital investments in Minnesota over the last 21 years. The report draws on data from PricewaterhouseCoopers (PwC) and the National Venture Capital Association’s (NVCA) MoneyTree Report, and aims to put Minnesota’s venture capital investments in context and identify industries that stand out from the others.