The University of Minnesota invests in early-stage startups built around licensed university technologies through its Discovery Capital Investment Program, co-investing up to $500,000 per round to accelerate commercialization of breakthrough research. Sectors include biotech, clean tech, medical devices, agtech, edtech, and software.
Average disclosed round size is $6.9M (across 22 rounds with reported amounts).
Portfolio
22
Fund Size
—
Top Stage
Seed
Last 12 Mo
1
Team
AF
Adam Freeman
Senior Investment Director
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
DealsAvg Round Size
Portfolio
26 investments
| Company | Round | Amount | Date |
|---|---|---|---|
 SecondWave Systems | Series A | $7M | Oct 2025 |
 Claros Technologies | Seed | $10M | Aug 2025 |
| VVOCxi HEALTH | Seed | $1M | Jan 2025 |
| JJord BioScience | Unknown | $7.1M | Jan 2025 |
| VVOCxi HEALTH | Seed | $1.6M | Dec 2022 |
 Novome Biotechnologies | Series B | — | Jan 2022 |
| VVOCxi HEALTH | Seed | $1.6M | Jan 2022 |
| VVascudyne, Inc | Series A | $10M | Dec 2021 |
 AbCellera | Series B | — | May 2020 |
| RReflection Sciences | Seed | $1.3M | Jun 2019 |
| MMiromatrix Medical | Series B | $15.7M | Jul 2018 |
| MMiromatrix Medical | Seed | $15.7M | Jan 2018 |
| MMiromatrix Medical | Series A | $5M | May 2011 |
| NNovome | Series B | $43.5M | — |
| IInternational Cardio Corp | Bridge | $802K | — |
| NNovoClade | Unknown | $1M | — |
| RReBase BioTech | Unknown | $1.2M | — |
| RRetiSpec Inc | Series A | $10M | — |
| SStimdia | Seed | — | — |
| EEvidentia Health | Series A | $1.2M | — |
| SSironix Renewables | Seed | $645K | — |
| CCoreBiome, Inc. | Seed | — | — |
| VVitalMedix | Unknown | $1M | — |
| TTrekka Therapeutics | Unknown | $400K | — |
| CClaros Technologies | Debt | $10M | — |
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Top Co-Investors
DCVC2 shared
Eli Lilly and Company2 shared
Scientific Health Development2 shared
Sectoral Asset Management2 shared
Touchdown Ventures2 shared
Alexandria Venture Investments2 shared
Alta Partners2 shared
Engage Ventures2 shared
Viking Global Investors1 shared
OrbiMed1 shared
Presight Capital1 shared
Founders Fund1 shared
True Ventures1 shared
iGan Partners1 shared
Capital Midwest Fund1 shared
Groundswell Ventures1 shared
Last updated: 20 October 2026