Fourth-quarter venture capital

FOURTH-QUARTER VENTURE CAPITAL $139.8 SPENDING IN MINNESOTA MILLION Company, location Amount • Business Investors raised MEDICAL DEVICES & EQUIPMENT Investment: $67.1 million Pct. of total: 47.9% Acorn Cardiovascular Inc., St. Paul Credit Suisse Private Equity, Cardinal Partners, $21.6 million • Develops passive devices for the undisclosed corporate investor, SightLine Partners, treatment of congestive heart failure Johnson & Johnson Development Corp., New Enterprise Associates, Credit Suisse First Boston Tactile Systems Technology Inc., Minneapolis Galen Associates, undisclosed investor $11.8 million • Develops and markets medical devices Cardiovascular Systems Inc., New Brighton. Maverick Capital Ltd., Easton Hunt Capital Partners $11.2 million • Designs clinical devices for the treatment of cardiovascular disease NeuroVasx Inc., Maple Grove Stephens Group Inc., undisclosed investor $8.5 million • Develops technologies for the treatment and care of stroke patients Entellus Medical Inc., Maple Grove SV Life Sciences Advisers, Split Rock Partners $4.5 million • Develops medical devices and methods to treat sinusitis ConcepTx Medical, Plymouth Versant Ventures, Advanced Technology Ventures $4 million • Provides medical devices for undertreated patient populations GraftCath Inc., Eden Prairie Three Arch Partners, Sapient Capital Management, $3 million • Developing new type of vascular access with Cutlass Capital, Affinity Capital, Ascension potential to significantly decrease failure Health Ventures rate in patients undergoing hemodialysis Orasi Medical Inc., Edina CentreStone Ventures Inc., PrairieGold Venture $2.4 million • Develops technology to diagnose Partners, undisclosed corporate investor, individuals neurological diseases Spinal Designs International Inc., Minneapolis Aavin Equity Advisors $45,000 • Develops noninvasive products and therapies to relieve lower back pain INFORMATION TECHNOLOGY SERVICES Investment: $40 million Pct. of total: 28.6% Xiotech Corp., St. Cloud Oak Investment Partners, individuals $40 million • Develops data storage products for businesses HEALTH CARE SERVICES Investment: $15 million Pct. of total: 10.7% Redbrick Health Corp., Minneapolis Fidelity Ventures, Highland Capital Partners, $15 million • Formerly known as Askkra Health Corp., Versant Ventures operates as a health services company SOFTWARE Investment: $9.5 million Pct. of total: 6.8% Calabrio Inc., Minneapolis Split Rock Partners, BlueStream Ventures, $8 million • Develops and markets customer undisclosed corporate investor, individuals interaction software Nash Controlware, Minnetonka RAIN Source Capital Inc., formerly known as $1.5 million • Doing business as As One Technologies, Minnesota Investment Network, undisclosed provides software products and services nonventure firm for information systems BUSINESS PRODUCTS AND SERVICES Investment: $4.4 million Pct. of total: 3.1% JobDig Inc., Eden Prairie LFE Capital (formerly known as L Frecon Enterprises), $4.4 million • Provides classified advertising and undisclosed venture firm integrated multimedia products COMPUTERS AND PERIPHERALS Investment: $2.4 million Pct. of total: 1.7% Aveso Inc., Fridley ARCH Venture Partners $2.4 million • Formerly known as Commotion Inc., manufactures printed, plastic electronic displays for smart cards CONSUMER PRODUCTS AND SERVICES Investment: $1.5 million Pct. of total: 1.1% Coolibar Inc., Minneapolis Aavin Equity Advisors, individuals, $1 million • Designs, manufactures and markets LFE Capital (formerly known as L Frecon Enterprises) a range of sun protection products Ovation Science Inc., Chanhassen RAIN Source Capital Inc., formerly known as $500,000 • Develops technology for horticultural Minnesota Investment Network, undisclosed products nonventure firm INDUSTRIAL/ENERGY Investment: undisclosed Pct. of total: NA National Wind LLC, Minneapolis McGowan Capital Group undisclosed • Provides electric utility services for wind energy projects Source: PricewaterhouseCoopers/Thomson Venture Economics/National Venture Capital Association MoneyTree Survey