OMAHA, Neb.--(BUSINESS WIRE)--Dundee Venture Capital, an Omaha-based seed-stage investment firm, today announced the opening of a new office in the Minneapolis area. The new location is part of an ongoing regional growth plan after the recent raise of $20M of a $30M fund III. Expanding into Minneapolis gives the firm the opportunity to provide seed-stage capital to a broader geographical region, part of its broader mission to actively transform the business landscape of entrepreneurship of the Midwest.
As one of the fastest growing states for technology jobs according to Forbes, Minnesota ranks up with Utah and Nebraska as a top tech hub-to-watch. Several recent boons to the Minneapolis startup ecosystem garnering attention include the formation of Techstars’ Retail Startup Accelerator in partnership with Target, NBC Sports Group’s acquisition of Sports Engine and Amazon’s opening of a Minneapolis office. Minneapolis also headquarters several well-known enterprises like UnitedHealth Group, General Mills, Best Buy, 3M and Target in addition to medical device companies Medtronic, St. Jude Medical and Boston Scientific.
“Minnesota has all of the pieces to become one of the premier tech cities in the country, and the startup ecosystem here is accelerating at an incredible pace,” said Greg Beaufait, Partner at Dundee Venture Capital. “We are excited about the opportunity to play a role in the continued growth of tech in the city and to add to our presence in Omaha, Chicago, and the broader Midwest with a Minneapolis office.”
Comprised of a team of former entrepreneurs, Dundee has invested in 31 startups to date including Phone2Action, Fooji, mySidewalk, Built In, Inventables and Bulu Box. With a focus on consumer networks, B2B SaaS and e-commerce investments, Dundee seeks early-stage Midwestern startups with high-growth potential, typically investing $250,000 - $750,000 per company.
“Dundee’s momentum is strong,” said Mark Hasebroock, Founding Partner of Dundee Venture Capital. “The new office comes just as we are almost done raising our third fund and have expanded to Chicago. With another office in Minneapolis, we are well on our way to achieving our mission of providing capital to exceptional entrepreneurs building the most disruptive tech companies in underserved markets across the Midwest.”
About Dundee Venture Capital
Dundee Venture Capital invests in high-growth, early-stage technology companies in the Midwest. With a focus on passionate and dynamic entrepreneurs, Dundee VC provides the capital and the connections to founding teams across industries with specific attention to e-commerce, B2B SaaS and consumer networks. Learn more by visiting: dundeeventurecapital.com or follow us on Twitter: @dundeevc.