We announced our $41 Million Fund II back on May 23, 2022.

On the two-year anniversary of our Fund II announcement, here’s a progress update-

We’ve invested $12,000,000 into 19 startups.
Thematically, we are still focused on our three primary investment themes. Those are digital transformation through AI, solving labor problems and community driven applications.
- Examples of our Fund II investments by theme:
  - Solving Labor Problems- Carbon Origins, Mangxo, Micruity, OneCarNow, Skillit, Yardstik
  - Digital Transformation through AI- Ensodata, Freede, Soiltech, Vocxi
  - Community Driven Applications- Featured.com, HLRBO, NextGem, Omnia Fishing, Percent Pledge
We continue to use a network driven approach to backing founders based in markets underserved by the broader venture capital market.
- Where are these underserved markets?
  - We’ve historically been very active in the Midwest, especially in Minnesota where we are headquartered.
  - We recently made our first two investments in LATAM with OneCarNow and Mangxo. We are finding the LATAM is a bit of a capital dessert like the Midwest, and we are especially excited by the fintech startups we are seeing in the region.

Team Update

All three General Partners (Pradip Madan, Ryan Weber and I) are still actively searching for new investments.
We have added two new Associates who are coming up on their one year of full-time contributions, Joseph Daher and Grant Gibson.

Future Outlook

We have 60% of Fund II’s committed capital still to deploy, so that’s approximately $24.6M.
We are planning to invest in another 7-10 new companies.
We are spending a lot of time in B2B SAAS and fintech.
From a stage standpoint, we are looking for startups which have launched their product and showing early signs of product-market fit.
We have no minimum revenue threshold for us to write a first check (we are mostly evaluating a startup based on qualitative factors of an opportunity at the seed stage), however, most of the startups we invest in have anywhere from tens of thousands to hundreds of thousands of dollars in annual revenue run rate at the time we first invest with growth rates in the 25% to 50+% month over month range.
Typically, our initial checks are $250k to $1M into Seed stage rounds with potential to follow on in subsequent rounds.
We are comfortable leading rounds, but being the lead investor is not a requirement.

I’d like to personally thank each of our Fund II investors. It’s through their capital commitments which we are able to continue on our journey backing ambitious founders!

Stay up to date with Great North Ventures here! With execution as our North Star we fund, build and scale innovative tech companies.

Quick Ask

Deal Flow – We are actively investing out of our $41 million second fund and welcome any opportunities that you think fits our investment thesis

What’s New

Great North Ventures has added two new Associates, Joseph Daher and Grant Gibson
We hosted several portfolio companies at Target Field to watch the Minnesota Twins

Left to Right: Ryan Weber, Rob Weber, Joseph Daher, Grant Gibson

Fund and Portfolio News

Revolutionizing Medical AI Development: Flywheel Announces $54 Million in Series D Funding led by Novalis LifeSciences & NVentures (NVIDIA’s venture capital arm) – June 2023
Read More

Branch Powers the Uber Pro Debit Card and Brings Instant Disbursements and Rewards to Gig Workers – October 2022
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Acquired by Human Powered Health – January 2023
Read More

GNV In The Community

May31 : Hosted Twins Game | Minneapolis, MN
June14 : Pitch Breakfast | Charlotte, NC
June 20-21 : Gener8tor Onramp Workforce/Education Conference | St. Paul MN
June 21-22 : Gener8tor Onramp Insurance Conference | St. Paul MN

Content on Execution

I am thrilled to announce the addition of our newest Associate, Grant Gibson, who brings a unique blend of business acumen and legal expertise to our Great North Ventures fund. Holding a law degree from St. Thomas School of Law, Grant passed the bar this past fall, solidifying his legal prowess. Prior to joining Great North Ventures, Grant gained invaluable experience as in-house counsel at a cybersecurity startup.

Great North Ventures looks forward to leveraging Grant’s diverse skill set to further enhance our ability to identify and nurture promising startups. Grant will be responsible for driving deal closures, assisting in deal sourcing, conducting due diligence, and working closely with portfolio companies to support their growth and success. His expertise will play a pivotal role in Great North Ventures’ mission to foster the next generation of transformative businesses.

Please join us in welcoming Grant Gibson to the Great North Ventures team.

Ryan Weber Jul 15, 2024

Great North Ventures Leads OneCarNow! Series A Unlocking $86M In Funding For Improved Gig Worker Financial Well-Being

Grant Gibson Jul 15, 2024

Micruity Secures $5 Million to Transform Retirement Income Solutions

Ryan Weber Jun 27, 2024

Pear Commerce Secures $10M in Series A Funding to Transform Shoppable Media & Enhance Retail E-commerce

Rob Weber Jun 06, 2024

How Long Does It Take for a Startup to Get to a Big Exit?

Grant Gibson May 25, 2024

VCs and Startups Are Adjusting to the Corrected Market

Rob Weber May 23, 2024

Let’s Celebrate the Two Year Anniversary of Great North Ventures Fund II

Grant Gibson Apr 30, 2024

April Newsletter

Sergio Angelini, Luis Morales, Patricio Naumann

Rob Weber Apr 09, 2024

Great North Ventures Invests in Mangxo to Revolutionize Credit Terms in Latam’s Construction Sector

Rob Weber Mar 12, 2024

WithMe: A Startup Growth Story Fueled by Profits

Rob Weber Mar 06, 2024

HLRBO Raises $1M Seed Round to Better Assist Landowners in Leasing Their Land to Hunters

Great North Ventures Jun 29, 2023

June Newsletter

Pradip Madan Jun 27, 2023

Revolutionizing Medical AI Development: Flywheel Announces $54 Million in Series D Funding led by Novalis LifeSciences & NVentures

Rob Weber Jun 01, 2023

Grant Gibson Joins The Great North Ventures Team

Rob Weber May 01, 2023

Demystifying Startup HR

Rob Weber Apr 26, 2023

Joseph Daher Joins The Great North Ventures Team

Great North Ventures Mar 29, 2023

Head of Finance & Fund Administration- Venture Capital Firm (Remote)

Great North Ventures Jan 05, 2023

Demystifying Startup HR

Great North Ventures Sep 03, 2022

3 Portfolio Companies Make Inc. 5000 + Quicklly & Instacart Expand

Great North Ventures Sep 02, 2022

Mike Schulte, Principal at Great North Ventures, on Episode 15, “Execution is King” (Part 2)

Great North Ventures Sep 01, 2022

Mike Schulte, Principal at Great North Ventures, on Episode 14, “Execution is King” (Part 1)

3 Portfolio Companies on The Inc. 5000 List

Great North Ventures Aug 23, 2022

3 Portfolio Companies Ranked on The Inc. 5000 List

Great North Ventures Aug 04, 2022

iraLogix closes $22M + Branch expands with Uber

Great North Ventures Aug 01, 2022

iraLogix closes $22M Series C

Great North Ventures Jul 11, 2022

Flywheel lands Gates Foundation grant

Great North Ventures Jun 30, 2022

Venture Capital Analyst

Great North Ventures Jun 23, 2022

Orazio Buzza, Founder and CEO of Fooda – on Episode 13, “Execution is King”

Great North Ventures Jun 03, 2022

$40M Fund II Raised!

Great North Ventures May 26, 2022

Eric Martell, Founder of Pear Commerce: Episode 13, Execution is King

Great North Ventures Raises $40M Fund II

Great North Ventures May 23, 2022

Great North Ventures Raises $40 Million Fund II

Great North Ventures May 18, 2022

Investment Thesis: Fund II Strategy

Investment Thesis: Community-Driven Applications

Great North Ventures May 13, 2022

Investment Theme: Community-Driven Applications

Investment Themes: Digital Transformation Through AI

Great North Ventures May 13, 2022

Investment Theme: Digital Transformation Through AI

Great North Ventures May 13, 2022

Investment Theme: Solving Labor Problems

Great North Ventures May 02, 2022

Trends in the Gig Economy + Work in the Metaverse

Great North Ventures Apr 20, 2022

Tipatat Chennavasin, General Manager and Co-Founder of The Venture Reality Fund: Episode 12, Execution is King

Great North Ventures Apr 04, 2022

Portfolio raises $125M + talking fundraising with Branch CEO

Great North Ventures Mar 17, 2022

Omnia Fishing closes $4M round, joins Great North portfolio!

Great North Ventures Mar 09, 2022

Atif Siddiqi, Founder/CEO of Branch: Episode 11, Execution is King

Great North Ventures Feb 24, 2022

Michael Martocci, CEO and Founder of SwagUp: Episode 10, Execution is King

Great North Ventures Feb 04, 2022

Yardstik new to portfolio, closes $8M Series A

Great North Ventures Feb 01, 2022

First venture studio startup comes out of stealth!

Great North Ventures Jan 31, 2022

Insights for founders from a data guru, + FactoryFix raises a Series A!

Great North Ventures Jan 26, 2022

Una Fox: Episode 9, Execution is King

Rob Weber Jan 24, 2022

Start With a Mobile App, Not a Website

The rise of rapid detection technologies

Pradip Madan Jan 13, 2022

The Rise of Rapid Consumer Detection Technologies: A 2022 Outlook

Great North Ventures Jan 03, 2022

2ndKitchen acquired by SoftBank-backed REEF + advice from an early Googler

Great North Ventures Dec 29, 2021

Joe Sriver, 4giving: Episode 8, Execution is King

Great North Ventures Dec 22, 2021

2ndKitchen Acquired by REEF

Great North Ventures Dec 04, 2021

Venture studio startup jobs + advice for founders from founders

Great North Ventures Nov 24, 2021

Best Advice from the Great North Annual Event: Episode 7, Execution is King

Great North Ventures Nov 01, 2021

Newsletter: Do you fit our investing themes?

Great North Ventures Oct 21, 2021

Jonathan Treble, PrintWithMe: Episode 6, Execution is King