Split Rock Partners

Split Rock Partners was a venture capital firm founded in 2004, based in Minneapolis, Minnesota, with a strategic focus on emerging healthcare, software, and Internet services companies. The firm primarily targeted the Upper Midwest and West Coast regions for its investments. A significant milestone in its history was the successful closing of its fourth fund, Split Rock Partners IV, in 2011, which amassed $275 million in capital commitments. This fund was intended to support early and growth-stage companies within their core sectors.

TheThe firm's investment strategy centered on providing capital and strategic guidance to promising startups. Split Rock Partners typically engaged in initial investments ranging from $3 million to $15 million, aiming to be a lead or significant participant in funding rounds. Their approach emphasized building strong relationships with founders and leveraging their extensive industry networks to foster portfolio company growth.

Despite its established presence and successful fundraising, Split Rock Partners made a pivotal decision in 2016 to cease raising new funds. Instead, the firm opted to dedicate its resources to managing and supporting its existing portfolio companies through their development and exit phases. This strategic shift effectively concluded their period of active new investments. Many of the firm's former partners subsequently transitioned to other prominent venture capital firms or launched new investment vehicles, carrying forward their expertise and networks within the venture ecosystem.