Emerging hedge fund managers in Minnesota
23 emerging hedge funds in Minnesota: first sale in 2021 or later and under $50 million raised, largest first.
Fund
First sale
Raised
Investors
Minimum
YTD performance
Deepwater Public-Private Fund, LP
Minneapolis, MNEmerging
First saleJul 2021
Raised$39.0M
Investors93
MinimumNone set
YTD performance+21.6%13F est. YTD · thru Q2 2026
RPC MSR Investment Fund II LP - Series 2
Plymouth, MNEmerging
First saleMar 2026
Raised$36.0M
Investors12
MinimumNone set
YTD performanceNot reported
TCM Drive LLC
Minneapolis, MNEmerging
First saleSep 2022
Raised$34.7M
Investors22
Minimum$250K
YTD performanceNot reported
Outlier Fund, L.P.
Minneapolis, MNEmerging
First saleApr 2023
Raised$33.0M
Investors29
Minimum$250K
YTD performance+25.3%13F est. YTD · thru Q2 2026
Thiele Offshore Partners Ltd.
Minneapolis, MNEmerging
First saleSep 2022
Raised$29.0M
Investors30
Minimum$250K
YTD performanceNot reported
Varde Liquid Credit Fund (Offshore), L.P.
Minneapolis, MNEmerging
First saleFeb 2025
Raised$25.9M
Investors6
Minimum$100K
YTD performanceNot reported
First Light Focus Feeder Fund, Ltd.
Edina, MNEmerging
First saleOct 2023
Raised$22.1M
Investors5
Minimum$100K
YTD performance+21.5%13F est. YTD · thru Q2 2026
Pine River Multi-Strategy Master Fund Ltd.
Minnetonka, MNEmerging
First saleOct 2022
Raised$21.0M
Investors3
Minimum$1.0M
YTD performanceNot reported
Glen Oak Volatility Fund LP
Minneapolis, MNEmerging
First saleApr 2022
Raised$13.8M
Investors23
MinimumNone set
YTD performanceNot reported
AB CarVal Aviation Leasing Fund A LP
Minneapolis, MNEmerging
First saleMar 2026
Raised$12.5M
Investors1
MinimumNone set
YTD performanceNot reported
Varde Liquid Credit Fund, L.P.
Minneapolis, MNEmerging
First saleAug 2023
Raised$11.8M
Investors5
Minimum$1
YTD performanceNot reported
Deepwater Late-Stage Fund II LP
Minneapolis, MNEmerging
First saleJun 2026
Raised$10.0M
Investors30
MinimumNone set
YTD performance+21.6%13F est. YTD · thru Q2 2026
Pine River Precision Fund SPC for the Account of Pine River Municipal Fund S.P.
Minnetonka, MNEmerging
First saleMar 2021
Raised$10.0M
Investors1
Minimum$1.0M
YTD performanceNot reported
Channel Fintech 1 SP, a segregated portfolio Co of Thiele Direct Opportunities SPC
Minneapolis, MNEmerging
First saleSep 2024
Raised$9.9M
Investors1
Minimum$100K
YTD performanceNot reported
TCM Card LLC
Minneapolis, MNEmerging
First saleNov 2023
Raised$7.4M
Investors2
Minimum$250K
YTD performanceNot reported
Deer Lake Strategic Fund LP
Saint Louis Park, MNEmerging
First saleFeb 2025
Raised$6.8M
Investors34
Minimum$250K
YTD performanceNot reported
TCM Drive Co-Invest SP, a segregated portfolio Co of Thiele Direct Opportunities SPC
Minneapolis, MNEmerging
First saleFeb 2025
Raised$6.7M
Investors1
Minimum$100K
YTD performanceNot reported
Asymmetric Small & Micro-cap Fund LP
Minneapolis, MNEmerging
First saleJun 2024
Raised$4.8M
Investors20
Minimum$50K
YTD performanceNot reported
Baztec Partners, LP
Edina, MNEmerging
First saleMar 2021
Raised$3.2M
Investors10
Minimum$250K
YTD performanceNot reported
North Lion Opportunity Fund, LP
Minneapolis, MNEmerging
First saleFeb 2026
Raised$2.0M
Investors2
Minimum$250K
YTD performanceNot reported
Long Vol Equity Strategy Fund LP
Minneapolis, MNEmerging
First saleJan 2026
Raised$1.9M
Investors4
MinimumNone set
YTD performanceNot reported
TCM One LLC
Minneapolis, MNEmerging
First saleFeb 2025
Raised$495K
Investors2
Minimum$250K
YTD performanceNot reported
Alphacopia Partners LP
Annandale, MNEmerging
First saleJul 2021
Raised$0
Investors8
Minimum$100K
YTD performanceNot reported
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