For the third consecutive year, investors committed more than $1 billion to rising and privately owned Minnesota startups.
In 2021, venture capital-backed Minnesota companies raised $1.34 billion, down slightly from 2020’s $1.54 billion, but above 2019’s $1.2 billion, according to a recent report from Seattle-based investment data firm PitchBook and the National Venture Capital Association.
An increasing amount of deals and investors pouring money into the state’s fast-growing companies is essential for Minnesota’s economy to keep growing.
“We know entrepreneurship is critical for cities and states to stay competitive in this global economy,” said Neela Mollgaard, executive director of Launch Minnesota, an initiative of the Minnesota Department of Employment and Economic Development. “It creates wealth, it builds communities and it grows our economy.”
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