TLDR: Barely any venture capital makes it to greater Minnesota. Meet the folks trying to change that.
- Less than 4% of venture capital invested in MN goes outside the Twin Cities
- Great North Ventures invests in Brainerd-based company HLRBO
Brothers Rob and Ryan Weber, founders of a successful tech company, are now focusing on helping entrepreneurs in central Minnesota through their venture capital fund, Great North Ventures. They recently invested in a Brainerd-based company, HLRBO, one of the largest venture capital investments made in central Minnesota. While venture capital traditionally goes to bigger cities and metros, the Weber brothers are working to change that by bringing more investment to the region.
Across the state, less than 4% of venture capital is invested in companies outside the Twin Cities, with even fewer funds reaching areas like St. Cloud. However, entities like the Headwaters Angel Network and Launch Minnesota are working to change this by providing funding and support to startups in greater Minnesota. Through efforts to encourage investment in startups outside the Twin Cities, it is hoped that innovation and growth can flourish in all areas of the state.
Overall, the push to bring more venture capital to greater Minnesota is gaining momentum, with local investors, state agencies, and entrepreneurs all working together to create a thriving startup ecosystem across the state.
