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Venture Capital
splitrock.com

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Investments

148

Portfolio Exits

42

Funds

2

About Split Rock Partners

Split Rock Partners invests in emerging healthcare, software and Internet services companies in the Upper Midwest and West Coast. Split Rock is an early-stage venture capital firm that was founded in June 2004 by the former healthcare and software investment teams of St. Paul Venture Capital (SPVC). The Split Rock team managed over $1 billion of venture capital during their tenure at SPVC, and continues to manage the SPVC healthcare and software portfolio. In May of 2008, the firm raised $300 million in our second Split Rock Partners fund, the successor to our inaugural $275 million fund raised in April 2005.

Split Rock Partners Headquarter Location

10400 Viking Drive Suite 550

Minneapolis, Minnesota, 55344,

United States

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Latest Split Rock Partners News

Gravie Raises USD 75M in Series E

Mar 10, 2022

Gravie, a Minneapolis, MN-based health benefits company, raised USD 75m in Series E funding. The round was led by Georgian, with participation from existing investors FirstMark Capital, AXA Venture Partners, Split Rock Partners and Revelation Partners.

Split Rock Partners Investments

148 Investments

Split Rock Partners has made 148 investments. Their latest investment was in Gravie as part of their Series E on March 3, 2022.

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Split Rock Partners Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

3/9/2022

Series E

Gravie

$75M

No

8

3/18/2021

Series D

Gravie

$28M

No

17

2/10/2020

Unattributed VC

Colorescience

$3M

No

1

8/27/2019

Debt

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$99M

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10

2/14/2019

Series E

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$99M

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10

Date

3/9/2022

3/18/2021

2/10/2020

8/27/2019

2/14/2019

Round

Series E

Series D

Unattributed VC

Debt

Series E

Company

Gravie

Gravie

Colorescience

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Amount

$75M

$28M

$3M

$99M

$99M

New?

No

No

No

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Co-Investors

Sources

8

17

1

10

10

Split Rock Partners Portfolio Exits

42 Portfolio Exits

Split Rock Partners has 42 portfolio exits. Their latest portfolio exit was EBR Systems on November 24, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

11/24/2021

IPO

$99M

Public

2

5/4/2021

Acquired

$99M

3

1/6/2021

Acquired

$99M

19

8/5/2020

IPO

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$99M

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10

6/4/2020

Acquired

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$99M

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10

Date

11/24/2021

5/4/2021

1/6/2021

8/5/2020

6/4/2020

Exit

IPO

Acquired

Acquired

IPO

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

Public

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Sources

2

3

19

10

10

Split Rock Partners Acquisitions

1 Acquisition

Split Rock Partners acquired 1 company. Their latest acquisition was HelpSystems on August 18, 2015.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

8/18/2015

Private Equity

$99M

Acq - Fin - IV

2

Date

8/18/2015

Investment Stage

Private Equity

Companies

Valuation

$99M

Total Funding

Note

Acq - Fin - IV

Sources

2

Split Rock Partners Fund History

2 Fund Histories

Split Rock Partners has 2 funds, including Split Rock Partners II LP.

Closing Date

Fund

Fund Type

Status

Amount

Sources

5/1/2008

Split Rock Partners II LP

Early-Stage Venture Capital

Closed

$300M

1

5/4/2005

Split Rock Partners

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$99M

10

Closing Date

5/1/2008

5/4/2005

Fund

Split Rock Partners II LP

Split Rock Partners

Fund Type

Early-Stage Venture Capital

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Status

Closed

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Amount

$300M

$99M

Sources

1

10

Split Rock Partners Team

3 Team Members

Split Rock Partners has 3 team members, including current Chief Financial Officer, Steve Lp Schwen.

Name

Work History

Title

Status

Allan R. Will

Founder

Current

Steve Lp Schwen

Chief Financial Officer

Current

Michael Gorman

Managing Director

Current

Name

Allan R. Will

Steve Lp Schwen

Michael Gorman

Work History

Title

Founder

Chief Financial Officer

Managing Director

Status

Current

Current

Current

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