Min. startups haul in record amounts of capital


The tech news site TECHdotMN reports that Minnesota startups brought in a record amount of capital in the second quarter. The report found that 61 different local tech ventures raised over $65 million.The report accumulated financial data from multiple sources. It reported that a higher percentage of Minnesota tech companies are coming from outside the traditional venture capital route, utilizing a mix of crowdfunding, accelerators/seed capital, federal funding, and angel investors.The Business Journal notes that the analysis by TECHdotCOM reflects more funding and and deals than MoneyTree, which tracks venture capital deals around the country, reported last week. The Business Journal says that may be because MoneyTree only tracks investments made by formal venture capital firms, while TECHdotMN includes deals reported through other sources.

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