MoneyTree Venture Capital Profile for Minnesota

PricewaterhouseCoopers/Thomson Reuters/NVCA

Venture Capital Investment in Minnesota Companies

By Year

As of 06/30/2010

Year Companies Deals Investment($M)
2000 96 109924.5
2001 71 84438.2
2002 51 57383.6
2003 44 59225.1
2004 42 51380.4
2005 37 43300.1
2006 35 40326.3
2007 47 59481.3
2008 45 49478.6
2009 33 34266.2
2010 13 13 65.5

© 2010 PricewaterhouseCooper/Thomson Reuters/NVCA MoneyTree Survey

Data current as of 12-JUL-2010

Venture Capital Investment in Minnesota Companies

By Quarter

Qtr Companies Deals Investment($M)
2008-1 11 11 51.1
2008-2 17 18157.3
2008-3 9 9214.5
2008-4 11 11 55.7
2009-1 5 5 48.3
2009-2 11 11 90.1
2009-3 6 6 26.4
2009-4 12 12101.5
2010-1 4 4 20.1
2010-2 9 9 45.4

© 2010 PricewaterhouseCooper/Thomson Reuters/NVCA MoneyTree Survey

Data current as of 12-JUL-2010

Venture Capital Investment in Minnesota Companies

By Industry/Technology Sector

04/01/2010 to 06/30/2010

No. Sector Companies Deals Investment($M)
1 Medical Devices and Equipment 4 4 33.5
2 Biotechnology 2 2 10.3
3 Media and Entertainment 1 1 0.0
4 Computers and Peripherals 1 1 0.5
5 Software 1 1 1.0
-Total 9 9 45.4

© 2010 PricewaterhouseCooper/Thomson Reuters/NVCA MoneyTree Survey

Data current as of 12-JUL-2010

Venture Capital Investment in Minnesota Companies

By Internet Related Technology

04/01/2010 to 06/30/2010

No. Industry Companies Deals Investment($M)
1 Ecommerce Goods, Services and Content 2 2 0.5
2 Internet Software,Services and Tools 1 1 1.0
-Total 3 3 1.5

© 2010 PricewaterhouseCooper/Thomson Reuters/NVCA MoneyTree Survey

Data current as of 12-JUL-2010

Venture Capital Investment in Minnesota Companies

By Stage

04/01/2010 to 06/30/2010

No. Stage Companies Deals Investment($M)
1Early Stage3 3 14.0
2Seed1 1 4.0
3Expansion2 2 1.5
4Later Stage3 3 25.9
-Total 9 9 45.4

© 2010 PricewaterhouseCooper/Thomson Reuters/NVCA MoneyTree Survey

Data current as of 12-JUL-2010

Venture Capital Investment in Minnesota Companies

by Top County

04/01/2010 to 06/30/2010

No. County Companies Deals Investment($M)
1 MN-HENNEPIN 7 7 44.9
2 MN-OLMSTED 1 1 0.5
3 MN-DAKOTA 1 1 0.0

© 2010 PricewaterhouseCooper/Thomson Reuters/NVCA MoneyTree Survey

Data current as of 12-JUL-2010

Venture Capital Investment in Minnesota Companies

By Major Metro Area

04/01/2010 to 06/30/2010

No. Area Companies Deals Investment($M)
1Twin Cities 8 8 44.9
2Other US 1 1 0.5
-Total 9 9 45.4

© 2010 PricewaterhouseCooper/Thomson Reuters/NVCA MoneyTree Survey

Data current as of 12-JUL-2010

Venture Capital Investment in Minnesota

By state of Funding Source

04/01/2010 to 06/30/2010

No. Source state Investors Deals
1 California 3 3
2 Maryland 1 2
3 Minnesota 4 2
4 Massachusetts 2 2
5 Colorado 1 1
6 North Carolina 1 1
7 Wisconsin 1 1
8 New York 1 1
9 Illinois 1 1
-Total 19 20

© 2010 PricewaterhouseCooper/Thomson Reuters/NVCA MoneyTree Survey

Data current as of 12-JUL-2010

Venture Capital Investment by Minnesota Venture Funds

By state of Companies Receiving Money

04/01/2010 to 06/30/2010

No. Target state Companies Deals
1 California 4 4
2 Minnesota 3 3
3 Massachusetts 2 2
4 Illinois 2 2
5 Washington 1 1
6 Wisconsin 1 1
7 Texas 1 1
8 Quebec,(CA) 1 1
9 Non-US 1 1
10 Arizona 1 1
11 Pennsylvania 1 1
- Total 18 18

© 2010 PricewaterhouseCooper/Thomson Reuters/NVCA MoneyTree Survey

Data current as of 12-JUL-2010

Venture Capital Backed IPOs in Minnesota

By Year

As of 06/30/2010

Year Companies Amount Raised by IPO($M) Total Valuation Placed on Company by IPO($M)
2000 4242.8 872.7
2003 1 51.0 130.4
2004 1183.2 614.4
2005 1 55.3 148.9
2006 3157.0 693.6
2007 3189.0 809.8
2010 1 49.2 131.1

© 2010 Venture Economics/NVCA

Data current as of 12-JUL-2010

Venture Capital Backed IPOs in Minnesota

By Quarter

Qtr Companies Amount Raised by IPO($M) Total Valuation Placed on Company by IPO($M)
2010-2 1 49.2 131.1
Total 1976.5 3531.9

© 2010 PricewaterhouseCooper/Thomson Reuters/NVCA MoneyTree Survey

Data current as of 12-JUL-2010

Venture Capital Investing in Minnesota

Most Active Venture Investors

04/01/2010 to 06/30/2010

No. Firm Companies Deals Investment($M)
1New Enterprise Associates, Inc2 2 6.1
2U.S. Venture Partners1 1 0.8
3Capital Midwest Fund, L.P.1 1 0.5
4Delphi Ventures1 1 2.3
5Ethanol Capital Management, LL1 1 5.2
6GRP Partners1 1 0.3
7Hatteras Venture Partners (FKA1 1 2.3
8Oxford Bioscience Partners1 1 2.0
9Sandbox Industries1 1 0.0
10SightLine Partners1 1 0.8

© 2010 PricewaterhouseCooper/Thomson Reuters/NVCA MoneyTree Survey

Data current as of 12-JUL-2010

Venture Backed IPOs in Minnesota

Top IPOs

04/01/2010 to 06/30/2010

No. Company IPO DATE Money Raised by IPO($M) Total Valuation Placed on Company by IPO($M)
1SPS Commerce, Inc. (FKA: St. P04/22/2010 49.2131.1
-All Companies- 49.2 131.1

© 2010 PricewaterhouseCooper/Thomson Reuters/NVCA MoneyTree Survey

Data current as of 12-JUL-2010

Profile Created:07/13/2010