Southeast Minnesota Capital Fund LLC (also known as SEMN Capital) is a regional angel / early-stage venture fund based in Rochester, Minnesota, USA, focused on providing equity capital to startups with high growth potential, particularly those connected to Southeast Minnesota and Mayo Clinic–linked innovation ecosystems. It operates as a member-driven angel investment vehicle with professional leadership and community investor involvement.

Pre-Seed / Seed: Primary focus — seed and early institutional rounds where equity capital is scarce and can meaningfully accelerate company growth.
Early Institutional / Follow-On: Participates in later rounds such as Series A/B alongside co-investors when portfolio companies mature. Its investment activity includes Series A participations (e.g., Melodi Health).

Typical Investment Size: Southeast Minnesota Capital Fund does not publicly disclose a fixed check size on its website, but as a regional angel fund it typically participates in early equity rounds of startups (seed through early institutional).
Equity Taken:
• The fund does not publish a fixed ownership percentage it always takes — equity is negotiated per deal much like other angel and early-stage funds.
• In seed and angel rounds where such funds are active, industry norms suggest collective angel dilution across all investors often totals ~10 %–25 % of company equity, with individual fund positions being a meaningful minority stake commensurate with valuation and investment size. (This inference reflects standard angel/seed investment outcomes, not a specific published rule by SEMN Capital.)
• Because SEMN Capital participates alongside other institutional co-investors (e.g., in Melodi’s Series A), a typical individual investor’s equity share is deal-specific and depends on valuation and total round size negotiated with founders.
Equity Structure: Early-stage rounds typically use priced preferred equity or convertible instruments (SAFE/notes), with terms aligned to market norms. (Common practice in angel and VC deals when not publicly specified.)
Governance: As a meaningful institutional participant, SEMN Capital may seek board or observer rights in deals where its stake and role justify governance involvement — though this too is negotiated deal-by-deal.

Submission Method: Founders interested in SEMN Capital investment can contact the fund via its website or email with a brief company description and slide deck.
Local Engagement: Because the fund emphasizes community and member involvement, it often engages with founders through regional networking, pitch events, and ecosystem introductions tied to Southeastern Minnesota’s startup community.

Sector Focus: Broad but historically strong in healthcare, medtech, life sciences, health IT, and technology-enabled companies (reflecting regional strengths and portfolio patterns).
Geography: Primarily Southeast Minnesota / Minnesota region, though compelling companies located elsewhere may be evaluated.
Stage: Pre-seed, seed, and early institutional stages; portfolio includes seed and Series A/B participations.
Company Profile: Startups with high growth potential, strong founding teams, and scalable business models.

• Initial Intake: Company materials (deck, traction data, team bios) are reviewed for stage, market opportunity, and local/regional relevance.
• Screening & Discussion: Leadership and members evaluate strategic fit, often followed by founder calls/presentations.
• Due Diligence: Detailed diligence on market, technology, financials, and team.
• Terms Negotiation & Close: Equity percentage, valuation, governance rights, and financial terms are negotiated with founders and other co-investors.

Strategic Capital: Equity funding suited to early growth milestones.
 Mentorship & Network: Access to regional angel investors, advisors with industry expertise (particularly in medtech and life sciences), and ecosystem connections.
 Follow-On Support: SEMN Capital’s participation in follow-on financings can help attract subsequent rounds from other institutional investors.