Top 5 Angel Investors and VC Firms in Minnesota in 2026
Often known as one of the strongest startup states in the Midwest region, Minnesota is home to thousands of startups led by famous entrepreneurs.
Minnesota's most active angel investors and VC firms, including individual investors like Michael Berman and John Cosgriff and firms like Gopher Angels and Brightstone Venture Capital, fund seed and early-stage startups across healthcare, tech, and other sectors, typically writing checks from $50,000 into the low millions.
The state often has a lot of ventures in the fintech, edtech, and healthcare sectors, attracting attention from related investors and VC firms.
Do you also want to attract funding for your startup and know these angel investors?
Well, let's wait no longer and jump onto the list of the top 5 angel investors and VC firms in Minnesota and ways to pitch to them.
Top Angel Investors and VC Firms in Minnesota
Following is the list of some of the top angel investors and VC firms in Minnesota, along with some additional tips about how to pitch to them.
Michael Berman
- LinkedIn: Michael Berman
- Investor Type: Individual Investor
- Investment Interests: Healthcare
- Investment Stage: Early
Michael Berman is a medical device entrepreneur and angel investor who works with a select group of high-potential, early-stage companies. He co-founded and served as a board member at Prospect Medical and serves as Chairman at CardiacSense. He also serves as a Consultant & Venture Partner at RiverVest Venture Partners.
When it comes to funding startups, Michael Berman has a strict focus on healthcare-related startups. He usually invests in startups that are attracting attention or are already included in a fundraiser, and he also funds some companies through direct investor meetings.
Once a startup has been funded, Michael Berman also provides it with guidance because of his exceptional knowledge in the medical sector.
The investment range of Michael Berman ranges from $50,000 to $300,000. Some of his notable portfolio companies are:
S.T. Stent: S.T. Stent operates within Trendlines Medical, a business incubator that is part of The Trendlines Group. They developed a composite, removable sinus stent designed to be placed in the ethmoid sinus following functional endoscopic sinus surgery. Berman serves as Chairman.
PharmaCentra: PharmaCentra provides expert pharmaceutical marketing and sales strategies. They offer a lot of services, including clinical trial recruitment, pharmacy locator, teledetailing, and comprehensive healthcare management strategy.
Prospect Medical: Prospect Medical Holdings provides management services primarily to affiliated independent physician associations. They offer many healthcare services designed to provide coordinated and personalized care.
John Cosgriff
- LinkedIn: John Cosgriff
- Investor Type: Individual Investor
- Investment Interests: Tech and Healthcare
- Investment Stage: Early
John Cosgriff is an individual angel investor who is also Chief Executive Officer of UnitedHealthOne at UnitedHealth Group. He has been involved in various roles, including Advisor and Investor at Seasats, Investor at Hinge Health, and previously Chief Strategy Officer & Senior Vice President of Business Development at UnitedHealth Group.
When funding startups, John Cosgriff takes a very careful approach and only funds companies that have massive chances of success. He usually invests in the tech and healthcare sector, prioritizing companies with low competition and strong growth potential.
As he funds startups at the early stage, some of his portfolio companies are:
AddStructure: AddStructure offers a white-labeled natural language understanding (NLU) platform that retailers and brands can use to enable conversational commerce channels. Their technology uses machine learning and natural language processing systems to deploy search and discover products based on retail search, recommendation, and personalization algorithms.
Blueprint Registry: Blueprint Registry is a gifting platform that allows users to create a wish list based on the layout of their home. It is a wedding website builder and universal registry platform that helps you plan your big day.
ENSO: ENSO is a tire technology company that makes better tires for electric vehicles to extend EV range and reduce tire pollution. ENSO has since merged with Hinge Health, another company in Cosgriff's portfolio.
Hassan Syed
- LinkedIn: Hassan Syed
- Investor Type: Individual Investor
- Investment Interests: Tech
- Investment Stage: Early and Seed
Hassan Syed is also a notable angel investor in Minnesota. He is the CEO of Bir Ventures USA, founder of IdeaGist, founding director of Minnesota Innovates, and founding director of the Institute for Innovators & Entrepreneurs Minnesota.
When funding startups, Hassan Syed prefers Camel startups over those that might become Unicorns. He looks for dedicated founders and tenacious teams running technology businesses that create real value for the long haul.
Syed has accumulated practical insight on the digital DNA of entrepreneurial and innovation ecosystems through his work building IdeaGist into a global collaboration platform, which he draws on when guiding founders he backs.
The investment range of Hassan Syed ranges from $50,000 to $700,000. As for his portfolio companies, Hassan Syed often doesn't disclose the names of the ventures he invests in. He likes to make private investments and does not disclose the names.
Gopher Angels
- Website: Gopher Angels
- Investor Type: Angel Network
- Investment Interests: Healthcare, Biotech, and Software
- Investment Stage: Seed
Founded in 2012, Gopher Angels is an investment network that invests in seed-stage startups. The network was founded by David and Sara Russick, and has invested in 75+ companies since launch.
Their investors are a diverse network of seasoned F500 executives, successful entrepreneurs, micro VCs, and family funds/offices. Members are accredited investors who commit to investing at least $50,000 over a two-year period, and all members participate in screening applications from startups.
Like most other firms, Gopher Angels also focuses on guiding their portfolio companies through different startup stages. The network has arranged numerous startup events and continues to arrange more, boosting the entrepreneurial landscape.
Some of their portfolio companies over the years include:
Kidizen: Kidizen is a mobile platform that provides a storefront for parents to independently create and run, earn money, and find the latest styles for their kids. It is a parent-to-parent community for buying, sharing, and selling kidstyle. They offer a marketplace for parents to buy and sell slightly used products.
RoverMed BioSciences: RoverMed BioSciences developed a targeted drug delivery technology designed to carry medication directly into the nuclei of targeted cells. The St. Cloud, Minnesota company's technology assets were later acquired by AskBio to expand its AAV gene therapy platform.
Brightstone Venture Capital
- Website: Brightstone Venture Capital
- Investor Type: Venture Capital Firm
- Investment Interests: Media, tech, healthcare, mobile applications, and consumer products
- Investment Stage: Seed
Founded in 1985, Brightstone Venture Capital is one of the oldest investment firms in Minnesota. Based in Minneapolis, the firm has made over 100 equity investments and continues to fund more.
During the funding procedure, Brightstone Venture Capital prioritizes startups that present unique market solutions and can survive the markets for the coming years. With headquarters in Minneapolis, Brightstone Venture Capital usually invests around $500,000 to $10M per round.
Some of their portfolio companies are:
Wasabi Tech: Wasabi Technologies, Inc. is an American object storage service provider. They offer a product called Wasabi Hot Cloud Storage, which provides fast, affordable, and highly reliable cloud data storage for businesses all over the world.
FLYR Labs: FLYR Labs develops a data and AI-driven Revenue Operating System for airlines, travel, and transportation. The company uses advanced AI to capture and contextually analyze massive amounts of data, enabling airlines to more accurately forecast demand.
Mosaic: The Mosaic Company is a Fortune 500 company. They mine phosphate and collect urea for fertilizer through various international distribution networks.
Wrap-Up
Summing up, there are several angel investors and VC firms in Minnesota that can boost your business. Although most of these investors are often located in Minneapolis, they still fund startups in many cities as long as the startup shows potential. AngelMatch currently tracks 400+ investors across Minnesota if you want to expand your search beyond this list.
When pitching to investors, understand your business idea and study market competition beforehand to be fully aware of the situation. Drafting a tailored outreach note with the investor outreach email generator can help you make a strong first impression.
Good Luck!
Frequently Asked Questions
How much do angel investors in Minnesota typically invest?
Individual Minnesota angels typically write checks in the $50,000 to $300,000 range, while angel networks like Gopher Angels pool smaller member commitments (a $50,000 minimum) into larger syndicated rounds. VC firms such as Brightstone Venture Capital invest larger amounts per round.
What industries do Minnesota angel investors focus on?
Healthcare and medical device startups draw significant attention from Minnesota angels, reflecting the state's strong medtech industry. Investors here also back fintech, edtech, software, and biotech startups, with several networks and firms explicitly seeking Midwest-connected founders.
Is there a tax credit for angel investors in Minnesota?
Yes. Minnesota's Angel Tax Credit, administered by the Department of Employment and Economic Development, offers a 25% refundable credit on qualifying investments, up to $125,000 per investor per year ($250,000 for joint filers) in eligible early-stage businesses.
How do I get in front of Minnesota angel investors?
Most Minnesota angels and networks source deals through pitching competitions, investor meetings, and warm introductions rather than cold outreach alone. Applying directly to angel networks like Gopher Angels, and building relationships through local startup events, tends to work best.
How to make your startup investable?
To make a startup investible, focus on a scalable business model, a strong team, a well-defined market opportunity, and evidence of market validation.
