MoneyTree Venture Capital Profile for Minnesota

PricewaterhouseCoopers/Venture Economics/NVCA

Venture Capital Investment in Minnesota Companies

By Year

As of 03/31/2008

Year Companies Deals Investment($M)
1998 68 77359.3
1999 69 85640.5
2000 94 1071035.1
2001 72 84469.6
2002 49 55402.1
2003 43 56217.1
2004 43 50389.9
2005 35 41211.4
2006 33 38322.4
2007 42 54434.4
2008 10 10 60.1

© 2008 PricewaterhouseCooper/Venture Economics/NVCA MoneyTree Survey

Data current as of 15-APR-2008

Venture Capital Investment in Minnesota Companies

By Quarter

Qtr Companies Deals Investment($M)
2006-1 7 7 83.0
2006-2 8 8 46.0
2006-3 12 12123.8
2006-4 11 11 69.6
2007-1 7 7 62.9
2007-2 17 17154.1
2007-3 11 11 73.3
2007-4 19 19144.1
2008-1 10 10 60.1

© 2008 PricewaterhouseCooper/Venture Economics/NVCA MoneyTree Survey

Data current as of 15-APR-2008

Venture Capital Investment in Minnesota Companies

By Industry/Technology Sector

01/01/2008 to 03/31/2008

No. Sector Companies Deals Investment($M)
1 Medical Devices and Equipment 4 4 35.9
2 Software 2 2 17.1
3 Media and Entertainment 1 1 1.0
4 Consumer Products and Services 1 1 3.0
5 Electronics/Instrumentation 1 1 0.1
6 Biotechnology 1 1 3.0
-Total 10 10 60.1

© 2008 PricewaterhouseCooper/Venture Economics/NVCA MoneyTree Survey

Data current as of 15-APR-2008

Venture Capital Investment in Minnesota Companies

By Internet Related Technology

01/01/2008 to 03/31/2008

No. Industry Companies Deals Investment($M)
1 Ecommerce Goods, Services and Content 2 2 16.1
-Total 2 2 16.1

© 2008 PricewaterhouseCooper/Venture Economics/NVCA MoneyTree Survey

Data current as of 15-APR-2008

Venture Capital Investment in Minnesota Companies

By Stage

01/01/2008 to 03/31/2008

No. Stage Companies Deals Investment($M)
1Startup1 1 10.0
2Oth Early Stage1 1 2.5
3Expansion5 5 31.1
4Later Stage3 3 16.5
-Total 10 10 60.1

© 2008 PricewaterhouseCooper/Venture Economics/NVCA MoneyTree Survey

Data current as of 15-APR-2008

Venture Capital Investment in Minnesota Companies

by Top County

01/01/2008 to 03/31/2008

No. County Companies Deals Investment($M)
1 MN-HENNEPIN 6 6 38.5
2 MN-STEARNS 1 1 3.0
3 MN-RICE 1 1 2.5
4 MN-MORRISON 1 1 1.0
5 MN-OLMSTED 1 1 15.1

© 2008 PricewaterhouseCooper/Venture Economics/NVCA MoneyTree Survey

Data current as of 15-APR-2008

Venture Capital Investment in Minnesota Companies

By Major Metro Area

01/01/2008 to 03/31/2008

No. Area Companies Deals Investment($M)
1Twin Cities 6 6 38.5
2Other US 4 4 21.6
-Total 10 10 60.1

© 2008 PricewaterhouseCooper/Venture Economics/NVCA MoneyTree Survey

Data current as of 15-APR-2008

Venture Capital Investment in Minnesota

By state of Funding Source

01/01/2008 to 03/31/2008

No. Source state Investors Deals
1 Minnesota 6 9
2 Massachusetts 2 2
3 California 2 2
4 Wisconsin 1 1
5 New Jersey 1 1
6 Wyoming 1 1
7 Connecticut 1 1
8 Missouri 1 1
-Total 18 23

© 2008 PricewaterhouseCooper/Venture Economics/NVCA MoneyTree Survey

Data current as of 15-APR-2008

Venture Capital Investment by Minnesota Venture Funds

By state of Companies Receiving Money

01/01/2008 to 03/31/2008

No. Target state Companies Deals
1 Minnesota 11 11
2 California 7 7
3 Texas 2 2
4 South Dakota 2 2
5 Connecticut 1 1
6 Indiana 1 1
7 Massachusetts 1 1
8 Rhone-Alpes 1 1
9 North Carolina 1 1
10 Arizona 1 1
11 New Jersey 1 1
12 New York 1 1
13 Washington 1 1
14 Colorado 1 1
15 North Dakota 1 1
- Total 33 33

© 2008 PricewaterhouseCooper/Venture Economics/NVCA MoneyTree Survey

Data current as of 15-APR-2008

Venture Capital Backed IPOs in Minnesota

By Year

As of 03/31/2008

Year Companies Amount Raised by IPO($M) Total Valuation Placed on Company by IPO($M)
1998 1 68.0 308.1
1999 5397.5 1796.8
2000 6427.8 1769.7
2003 1 51.0 130.4
2004 1183.2 614.4
2005 2 79.3 243.1
2006 2112.0 429.3
2007 3189.0 809.8

© 2008 Venture Economics/NVCA

Data current as of 15-APR-2008

Venture Capital Backed IPOs in Minnesota

By Quarter

Qtr Companies Amount Raised by IPO($M) Total Valuation Placed on Company by IPO($M)
2006-2 1 32.0 122.0
2006-4 1 80.0 307.3
2007-4 3189.0 809.8
Total 51808.7 7340.8

© 2008 PricewaterhouseCooper/Venture Economics/NVCA MoneyTree Survey

Data current as of 15-APR-2008

Venture Capital Investing in Minnesota

Most Active Venture Investors

01/01/2008 to 03/31/2008

No. Firm Companies Deals Investment($M)
1RAIN Source Capital, Inc. (FKA4 4 0.4
2Affinity Capital Management2 2 2.4
3BlueStream Ventures1 1 1.0
4Canaan Partners1 1 1.9
5Cutlass Capital1 1 2.5
6Johnson & Johnson Development 1 1 1.9
7Lemhi Ventures1 1 10.0
8Mayo Medical Ventures1 1 7.6
9Prism VentureWorks (FKA:Prism 1 1 3.4
10SVB Capital Partners (FKA: Si1 1 1.9

© 2008 PricewaterhouseCooper/Venture Economics/NVCA MoneyTree Survey

Data current as of 15-APR-2008

Venture Backed IPOs in Minnesota

Top IPOs

01/01/2008 to 03/31/2008

No. Company IPO DATE Money Raised by IPO($M) Total Valuation Placed on Company by IPO($M)
-All Companies- 0.0 0.0

© 2008 PricewaterhouseCooper/Venture Economics/NVCA MoneyTree Survey

Data current as of 15-APR-2008

Profile Created:04/16/2008