Homegrown Capital Prepares to Raise $30 Million for Its Second Fund Focused on Early-Stage Tech Companies in the Northern Plains

Homegrown Capital, a venture capital firm based in Brookings and Sioux Falls, South Dakota, is gearing up to raise $30 million for its second fund.

The firm specializes in investing in early-stage, technology-driven companies within the Northern Plains region of the United States.

The Firm’s Fundraising Plans

According to a regulatory filing with the SEC, Homegrown Capital Fund II, LP, has not raised any funds yet.

The filing names General Partners Tim Weelborg and Matt Paulson as key figures behind the fundraising effort.

Although the fund hasn’t begun accepting investments, the firm is positioning itself to attract investors for its upcoming venture.

Investment Approach and Focus Areas

Homegrown Capital typically leads or co-leads Seed to Series A funding rounds, making investments ranging from $500,000 to $1.5 million.

Beyond providing capital, the firm is deeply involved with the companies it invests in, taking an active role at the board level to offer guidance and valuable connections that can help these businesses grow.

The firm’s focus is on businesses within three key sectors: B2B software, AgTech, and FinTech.

These companies must demonstrate significant potential for scalability, ensuring they can grow quickly and sustainably as they expand.

Targeted Geographic Focus

Homegrown Capital primarily targets startups located in North and South Dakota, as well as surrounding states within the Northern Plains region.

This includes Minnesota, Iowa, Nebraska, Montana, Wyoming, and Colorado.

The firm is dedicated to supporting and growing the entrepreneurial ecosystem in this underrepresented part of the country.