Sofia Fund partner and long-time investor in women-led tech businesses, Joy Lindsay, reflects on Minnesota’s 2019 fundraising record.
“While the majority of the capital goes to the Bay Area, New York and Boston, several Minnesota companies raised significant amounts in 2019,” Joy Lindsay, managing partner at Minneapolis-based Sofia Fund, told Minne Inno. “Companies like Bright Health and Total Expert are good indicators that Minnesota companies can attract large amounts of capital. I also think that bigger isn’t always better. Minnesota companies tend to be more capital efficient – they do more with less.”