The new $10 million early stage venture fund jointly run by Affinity Capital Management in Minneapolis and Triathlon Medical Ventures in Cincinnati finally has a name: Northern Lights Seed Capital.
From managing partner Barbara Nelsen’s LinkedIn profile:
Northern Lights Seed Capital, LP is a venture capital limited partnership, headquartered in Minneapolis, Minnesota. The Fund has been established to invest in seed/early stage life sciences companies in the Midwest and Minnesota in particular. Minnesota has a significant presence in these industries, providing a rich source of innovation, resources, and infrastructure to grow companies.
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Nelsen, a biotech consultant and a former MGI Pharma Executive, will manage the fund alongside Affinity venture partner Serafin Samson. Northern Lights expects to write its first checks in the fall.
In a phone interview, Nelsen said Northern Lights reflect both Minnesota and a spirit of hope and awe. Citing SEC rules, she wouldn’t comment directly on the fund’s finances but says there’s plenty of “interesting” start-ups and technology around the state.
“There’s plenty going on in Minnesota,” Nelsen said.
Naming a fund can be tricky: it’s the first thing potential investors and companies will see. Ideally, the name should reflect its mission and/or geography without falling into cliche or boredom.
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Here are some of the other names the fund considered:
Velo Videre Ventures (velo videre means “what lies beyond” in latin, and was on the original Minnesota state seal)
Sibley Venture Capital (Sibley was the first governor of Minnesota)
Laurentide Ventures (the last ice age to cover Minnesota)
Aurora Ventures (from Aurora Borealis, or the Northern Lights)
Polaris Ventures (Polaris is the North Star)
45N Ventures (Minneapolis/St. Paul are bisected by the 45th parallel) or 45North Ventures
Headwaters Venture Capital (for the headwaters of the Mississippi River)
Mighty Axe Ventures (for Paul Bunyan)
Palisade Head Ventures (Palisade Head is a dramatic rock cliff on Lake Superior north of Duluth)
What do you think of Northern Lights? Wise choice?
