Rochester Area Economic Development Inc. is ready to unveil a new angel investment fund to support start-up firms.
RAEDI plans to officially roll out its new Southeast Minnesota Capital Fund with an event at the Mayo Clinic Business Accelerator on Tuesday morning.
Looking back to 2016, RAEDI used its existing development fund to finance 11 businesses with $1.35 million and that, in turn, spurred the creation of 57 local jobs.
The businesses that were funded included Ambient Clinical Analytics, Geneticure, LiquidCool Solutions, HB Healthcare Safety, Hunhu Healthcare, Imanis Life Sciences, LAgen Laboratories, ReGen Theranostics, Sonex Health, Xcede Technologies and GoRout.