Rally Ventures has been named Minnesota’s most active venture-capital firm over five years.
CB Insights, which tracks venture investing,said the Twin Cities-based firm has made six Minnesota investments since its inception in 2012. They are Minnesota-based Atavium, Foodsby, Parallax, SportsEngine, Total Expert and ZapInfo.
“We’re all about helping entrepreneurs accelerate their businesses by leveraging our experience as early-stage venture investors and bringing together the expertise of our Technology Partner network,” said Jeff Hinck, co-founder and general partner of Rally Ventures, in a prepared statement. “We take this mission to heart in…Minnesota. We…are excited to continue investing in this state’s exceptional tech talent.”
Rally has participated in four profitable portfolio company exits in 2019, most recently with the sales of portfolio companies Twistlock and Verodin. In July, Twistlock, a cyber security firm, was acquired by Palo Alto Networks for $410 million in cash. In May, Rally sold its position in Verodin, a leader in cyber security control validation, was acquired in a cash-stock transaction valued at $250 million.
In 2013, Rally raised a $100-million fund that included investments from “technology partners” such as Piper Jaffray, 3M, Cargill, Google, Microsoft and Protolabs. Since inception in 2012, Rally has invested in 43 early-stage companies.