Split Rock Partners, LLC
VC · Eden Prairie (United States)
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About
Split Rock Partners, LLC is a venture capital firm specializing in investments in all stages including seed, startup, early stage, mid stage and late stage companies and secondaries. The firm provides capital through flexible investment strategies including primary investments, direct secondary and blended structures. It seeks to invest in the emerging healthcare and software, Internet, and Internet -based services companies. Within the healthcare sector, the firm invests in medical device that are therapeutic in nature. It typically invests in companies with market size greater than $500 million. The firm may also invest in select life sciences companies, where it can facilitate additional growth, spin-outs, or restructurings. Within the software and internet services companies, it focuses on web-based business and consumer services, marketing automation, enterprise analytics, real-time information services, and enterprise infrastructure. The firm invests in companies where the products are delivered as on-demand services, premise-based software, plastic products, metalworking machinery, and appliances. It seeks investments in companies that can grow to greater than $1 billion over time, generate $100 million in revenue within five years, with gross margins more than 50 percent, and operating margins in excess of 20 percent. The firm prefers to invests in companies between $8 million to $10 million. The firm invests in the West Coast and Upper Midwest regions of the United States. It prefers to lead or co-lead the initial investment and seeks to take a board seat, usually with chairmanship capacity. Split Rock Partners, LLC was founded in June 2004 and is based in Eden Prairie, Minnesota.
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