Arthur Ventures

Arthur Ventures

Arthur Ventures is a venture capital firm that invests in the information technology, life sciences, healthcare, and clean technology sectors.

Company Overview

Arthur Ventures is a venture capital firm focused on investing in early-stage B2B software companies outside Silicon Valley. Arthur Ventures has offices in Fargo, ND, and Minneapolis, MN.

History

Arthur Ventures was founded in 2008 and is based in Fargo, North Dakota by James Burgum. Arthur Ventures is a venture capital firm specializing in post-angel and pre-institutional investments including growth capital, start-up, early stage, seed, and later stage investments.

The firm prefers to invest in the information technology, life sciences, healthcare, and clean technology sectors.

  • Within information technology, it focuses on software, hardware, web-based services, and related technologies.
  • The firm also focuses on B2B software investments with specific interests in the infrastructure, financial technology, and communications segments.
  • Under life sciences, the firm focuses on biotechnology, drug discovery, medical devices, and other enabling technologies.
  • Within clean technology, the focus is on biofuels development, clean-coal, energy efficiency, and wind-powered technologies.

Investments

Arthur Ventures has made 44 investments. A notable one was on Dec 18, 2018, when they invested $3M in Nomics. The firm has had 6 exits, the most notable ones including Avalara, Ambassador, and FlipGrid. Arthur Ventures has raised a total of $123.6M across 4 funds, one of them being Arthur Ventures 2017 Opportunity Fund. This fund was announced on Mar 7, 2019, and raised a total of $7M. Arthur Ventures has $2.7M in revenue annually and competes with Matchstick Ventures, Techstars, and Greylock Partners.

Investment approach and focus

The firm invests in companies based in the United States with a focus on Upper Midwest. The firm focuses its early-stage investments in the Great Plains and Upper Midwest. Its initial investments in early-stage companies range from $500,000 to $3 million. It seeks to invest in later stage companies only in syndication with other investors.

Arthur Ventures focuses its investments in three target industry sectors and an investment size that is a post-angel investment and pre-institutional VC funding. The firm's preference is for investment opportunities that have established business models and prototypes.

Timeline

March 7, 2019

Arthur Ventures 2017 Opportunity Fund

$7M

December 18, 2018

Nomics Inc.

Nomics Inc.

$3,000,000

VENTURE CAPITAL (SERIES A)

Arthur Ventures

October 11, 2018

Total Expert

Total Expert

$20,000,000

VENTURE CAPITAL (SERIES B)

Arthur Ventures, Emergence Capital Partners, Rally Ventures

August 17, 2018

Zipnosis

Zipnosis

$3,000,000

VENTURE CAPITAL (SERIES B)

Arthur Ventures, Safeguard Scientifics, Ascension Ventures, +2

June 20, 2018

Stensul

Stensul

$7,000,000

VENTURE CAPITAL (SERIES A)

Arthur Ventures, First Round, Javelin Venture Partners, +3

June 19, 2018

JJUMPP

JJUMPP

$3,000,000

SEED FUND

Arthur Ventures

April 27, 2018

Arthur Ventures Growth Fund II

$54M

January 22, 2018

Protenus

Protenus

$11,000,000

VENTURE CAPITAL (SERIES B)

Arthur Ventures, LionBird, Kaiser Permanente Ventures, +4

October 11, 2017

250ok

250ok

$2,600,000

VENTURE CAPITAL (SERIES A)

Arthur Ventures

September 12, 2017

Cybrary

Cybrary

$3,500,000

VENTURE CAPITAL (SERIES A)

Arthur Ventures, Ron Gula

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Funded Companies

Company
Description
Industry
Website
Location
Datica

Company

Healthcare
Leadpages

Leadpages is a Minneapolis-based company.

Design
Minneapolis
stensul

stensul is a company founded by Noah Dinkin.

Marketing
Infusionsoft

Infusionsoft is a Chandler, Arizona-based company.

Customer relationship management (CRM)
Chandler, Arizona
Cybrary

Cybrary is a College Park, Maryland-based career development platform in cybersecurity and information technology applications.

Computer security
College Park, Maryland
Terminus

Terminus is an Atlanta-based company founded in 2014.

Advertising
Atlanta
250ok

250ok is an Indianapolis-based software company.

Software
Indianapolis
Nomics (company)

Nomics is a software company creating data products and APIs for institutional cryptocurrency investors.

Minneapolis
Athennian

Athennian is a cloud-based legal entity management software.

Software
Calgary
Total Expert

Total Expert is a Minneapolis-based company.

Web development
Minneapolis
When I Work

When I Work is a Minneapolis-based company.

Minneapolis
11 Results
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Associated investment funds

Investment Fund
Total offering (USD)
Total sold (USD)
Location
Date signed
Arthur Ventures Growth Fund II, LP
50,000,000
45,273,166
Fargo, North Dakota
July 16, 2013
Arthur Ventures Fund III A, LP
50,000,000
42,625,000
Fargo, North Dakota
February 9, 2017
Arthur Ventures 2020, LP
125,000,000
108,500,000
Fargo, North Dakota
November 2019
3 Results
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People

Name
Role
LinkedIn

Dave O'Hara

Venture Partner

Dennis Erdle

Venture Partner

Doug Burgum

Founding Partner

James Burgum

Partner

Jeremy TenBroek

Director of Technology

Lauris Molbert

Venture Partner

Megan Lind

Executive Assistant & Investor Relations

Patrick Meenan

Partner

Ryan Kruizenga

Partner

Further reading

Title
Author
Link
Type
Date

arthur ventures

Web

Arthur Ventures - Arthur Ventures invests in early stage B2B software companies located outside Silicon Valley. | Startup Ranking

Web

Arthur Ventures 2017 Opportunity Fund, Lp D Notice of Exempt Offering of Securities, items 06b, 3C, and 3C.1

SEC

Web

Arthur Ventures Archives - Serious Startups

Web

Arthur Ventures collects almost $7 mln for fund - PE Hub

Web

Arthur Ventures Growth Fund | Palico

Web

Arthur Ventures launches $45m software fund, opening Minneapolis office - TECHdotMN

Jeff Pesek

Web

Arthur Ventures looks to provide capital lift to local innovation - Silicon Prairie News

Web

Arthur Ventures Raises $45 Million Second Fund

Web

Arthur Ventures raises $48m | Private Equity International

Web

Arthur Ventures: Summary | OpenSecrets

Web

Arthur Ventures' investment in Nomics

Patrick Meenan

Web

Coinbase Ventures, Arthur Ventures among investors in $3M Nomics Series A

Tony Zerucha

Web

Dutch startup Stream raises $3 million from Arthur Ventures to further accelerate the growth of its API feed platform | EU-Startups

Thomas Ohr

Web

EverythingBenefits Continues Explosive Growth; Receives $4.0 Million Series A Investment from Arthur Ventures

EverythingBenefits

Web

LeadPages Announces $27M In Series B Funding

Fitz Tepper

Web

LeadPages Raises $5M Series A from Foundry Group, Arthur Ventures

Wall Street Journal

Web

Nomics Crypto API Data Service Secures $3 Million Led By Arthur Ventures, Coinbase and BitGo

Web

Our Investment in Arthur Ventures

Web

Why does Arthur Ventures invest only outside Silicon Valley? - Quora

Web

Working at Arthur Ventures

Web

Web

Documentaries, videos and podcasts

Title
Date
Link

Arthur Ventures

Bytes: Venture Capital 101 with Patrick Meenan of Arthur Ventures

Aug 31, 2017

Driving Change Ep. 12 - Tech Venture Capitalist Patrick Meenan of Arthur Ventures - LeadByChange

March 14, 2017

Companies

Company
CEO
Location
Products/Services

250ok

Agronomic Technology

Ambassador

Avalara

ClarionDoor

Cybrary

DataCamp

Datica

Drip

EverythingBenefits

Flipgrid

Intelligentinsites

Keap

Linux Academy

New Ocean

Nomics

phDATA

Preventice Solutions

Rhiza

Stensul

Stream

Talkroute

Terminus

TinyPulse

Total Expert

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References

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