Southeast MN Capital Fund Raises $7 million for 2nd Fund – Medical Alley Association

Southeast MN Capital Fund Raises $7 million for 2nd Fund

Rochester, MN (July 25, 2022) – Southeast Minnesota Capital Fund is pleased to announce it has closed
fundraising for its second fund with a total of $7 million in committed capital. Southeast Minnesota
Capital Fund is a Rochester-based angel investment fund that provides equity capital to innovative, high
potential Minnesota start-ups with a preference for companies located in SE Minnesota.

Fund II aims to build on the success of SMCF Fund I, which between 2018 and 2021 deployed almost $2
million in 14 Minnesota companies, 10 of which are located in SE Minnesota or based on technologies
developed here. Over the next 3-4 years, SMCF II expects to invest in 12 – 15 new seed-stage companies
and make 5-10 follow-on investments in companies within the SMCF portfolios.

SMCF is a member driven angel investment fund sponsored by Rochester Area Economic Development,
Inc. (RAEDI). David Herbert and Harry Hoffman, recently retired Mayo Clinic business and finance leaders, serve as SMCF’s Fund Co-Managers and also oversee company screening and due diligence.

For more information on Southeast Minnesota Capital Fund, visit:

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