Venture capital investing appears to be improving in Minnesota, according to an In Private venture report compiled from documents filed with the U.S. Securities & Exchange Commission.
The report shows that Minnesota firms raised a total of $51 million during the first quarter. This is up from about $30 million in 2010’s fourth quarter, based on the MoneyTree Report by PricewaterhouseCoopers and the National Capital Association, using data from Thomson Reuters.
However, venture capital investing for medical device companies is a smaller share of the pie than expected, considering that medical devices are an integral part of Minnesota’s economy, according to the report.
The total amount raised for medical devices in the fourth quarter was only $20.6 million, or roughly 40 percent.
Startups receiving significant funding include prostate treatment company NxThera, which raised about $12.6 million, and wound healing firm Celleration, which raised $8 million.
Health IT firm RedBrick Health also raised $5 million.
