Private investment funds in Minnesota
66 funds filed a Form D between Nov 3, 2024 and Nov 3, 2026, plus 3 single-deal vehicles (SPVs and co-investments). Largest cities: Minneapolis (43), Plymouth (5), Minnetonka (3), Wayzata (3), Edina (3).
66private investment funds
26emerging managers
22first sale since 2025
$48.5Mmedian raised
Private investment funds by city
Lists: Largest private investment funds in Minnesota · New private investment funds in Minnesota · Emerging private investment managers in Minnesota
All 66 private investment funds in Minnesota
Fund
First sale
Raised
Investors
Minimum
Offering
Thrivent Core Funds
Minneapolis, MN
First saleMay 2016
Raised$131B
Investors63
MinimumNone set
Offering506(b)
Locorr Futures Portfolio Fund L.P.
Excelsior, MN
First saleJan 1990
Raised$2.3B
Investors32,710
Minimum$10K
Offering506(b)
DGV Enhanced U.S. Equity Fund LLC
Minnetonka, MN
First saleMay 2015
Raised$953M
Investors36
MinimumNone set
Offering506(b)
Varde Fraser Fund, L.P.
Minneapolis, MN
First saleJul 2024
Raised$850M
Investors1
MinimumNone set
Offering506(b)
Mount Vernon Liquid Assets Portfolio, LLC
Minneapolis, MN
First saleOct 2016
Raised$791M
Investors509
MinimumNone set
Offering506(b)
Galliard Broad Market Core Fund, LLC
Minneapolis, MN506(c)
First saleJun 2024
Raised$660M
Investors8
Minimum$5.0M
Offering506(c)
Varde Cardinal Fund, L.P.
Minneapolis, MN
First saleJun 2022
Raised$550M
Investors1
MinimumNone set
Offering506(b)
Okabena Private Markets Fund, LLC
Minneapolis, MN
First saleApr 1989
Raised$449M
Investors174
MinimumNone set
Offering506(b)
Okabena Marketable Alternatives Fund II, LLC
Minneapolis, MN
First saleDec 2001
Raised$386M
Investors193
MinimumNone set
Offering506(b)
Okabena International Equity Fund, LLC
Minneapolis, MN
First saleJan 2006
Raised$351M
Investors214
MinimumNone set
Offering506(b)
Varde Subscription Line Fund, L.P.
Minneapolis, MN
First saleMay 2025
Raised$340M
Investors2
Minimum$100K
Offering506(b)
Okabena Bond Fund, LLC
Minneapolis, MN
First saleJan 2005
Raised$338M
Investors180
MinimumNone set
Offering506(b)
Varde Subscription Line Fund (Offshore), L.P.
Minneapolis, MN
First saleMay 2025
Raised$300M
Investors1
Minimum$100K
Offering506(b)
Parametric Global Low Beta VRP Fund, LLC
Minneapolis, MN
First saleJul 2020
Raised$282M
Investors5
Minimum$3.0M
Offering506(b)
10K Lakes Fund V, L.P.
Bloomington, MN506(c)
First saleMay 2025
Raised$276M
Investors3
MinimumNone set
Offering506(c)
Okabena U.S. Equity Fund, LLC
Minneapolis, MN
First saleJan 2004
Raised$274M
Investors175
MinimumNone set
Offering506(b)
Okabena Diversified Equity Fund, LLC
Minneapolis, MN
First saleJan 2003
Raised$266M
Investors40
MinimumNone set
Offering506(b)
Okabena Marketable Alternatives Fund, LLC
Minneapolis, MN
First saleJan 2003
Raised$213M
Investors40
MinimumNone set
Offering506(b)
Varde TC Fund, L.P.
Minneapolis, MN
First saleDec 2021
Raised$172M
Investors4
MinimumNone set
Offering506(b)
Varde CRE Lending Fund, L.P.
Minneapolis, MN
First saleDec 2023
Raised$162M
Investors10
MinimumNone set
Offering506(b)
Varde Asset Lending Fund (Offshore), L.P.
Minneapolis, MN
First saleApr 2025
Raised$150M
Investors1
MinimumNone set
Offering506(b)
Okabena Special Opportunities Fund, LLC
Minneapolis, MN
First saleFeb 2008
Raised$89.9M
Investors33
MinimumNone set
Offering506(b)
Bayview Capital Partners V LP
Minnetonka, MN
First saleApr 2026
Raised$89.2M
Investors48
MinimumNone set
Offering506(b)
Okabena Fixed Income Fund, LLC
Minneapolis, MN
First saleJan 2003
Raised$85.1M
Investors34
MinimumNone set
Offering506(b)
Compass Investors LP (a NY LP)
Minneapolis, MN
First saleAug 1983
Raised$62.6M
Investors186
MinimumNone set
Offering506(b)
Okabena Opportunities Fund, LLC
Minneapolis, MN
First saleOct 1995
Raised$54.5M
Investors33
MinimumNone set
Offering506(b)
Roers Affordable Housing Fund LLC
Plymouth, MNEmerging
First saleMay 2025
Raised$48.5M
Investors7
MinimumNone set
Offering506(b)
Founders Industrial Fund, L.P.
Eden Prairie, MNEmerging
First saleNov 2025
Raised$47.9M
Investors37
MinimumNone set
Offering506(b)
Deepwater Venture Fund II, L.P.
Minneapolis, MNEmerging
First saleSep 2023
Raised$40.9M
Investors97
MinimumNone set
Offering506(b)
X3-Stream Private Opportunity Partners LP LLC
Minneapolis, MNEmerging
First saleMay 2025
Raised$37.5M
Investors0
Minimum$1.0M
Offering506(b)
Deepwater Vermilion Fund LP
Minneapolis, MNEmerging
First saleJun 2026
Raised$37.4M
Investors48
MinimumNone set
Offering506(b)
North Lion Fund LLC
Minneapolis, MN
First saleOct 2016
Raised$37.3M
Investors90
Minimum$50K
Offering506(b)
BRC Fund IV, LP
Minnetonka, MNEmerging
First saleApr 2025
Raised$36.1M
Investors45
MinimumNone set
Offering506(b)
Convergent Capital Partners V, L.P.
Eden Prairie, MNEmerging
First saleOct 2025
Raised$34.8M
Investors26
MinimumNone set
Offering506(b)
Junto Holdings Partners, LLC
Minneapolis, MNEmerging
First saleDec 2024
Raised$30.0M
Investors17
Minimum$1
Offering506(b)
SolPacific Deferred Income Fund, LLC
Duluth, MNEmerging
First saleJul 2021
Raised$28.1M
Investors19
Minimum$500K
Offering—
Sustainable Infrastructure Fund IV (Offshore), LP
Wayzata, MNEmerging
First saleApr 2022
Raised$14.9M
Investors13
MinimumNone set
Offering506(b)
Cigf, LP
Wayzata, MNEmerging506(c)
First saleJun 2023
Raised$13.2M
Investors71
Minimum$50K
Offering506(c)
North Lion QP Fund LLC
Minneapolis, MNEmerging
First saleMar 2022
Raised$12.8M
Investors27
Minimum$100K
Offering506(b)
Black Pine Capital Partners, LLC
Waite Park, MNEmerging
First saleDec 2024
Raised$10.0M
Investors22
MinimumNone set
Offering506(b)
Roers Trade Partners Fund LLC
Plymouth, MNEmerging
First saleAug 2024
Raised$5.2M
Investors7
MinimumNone set
Offering506(b)
Roers Affordable Housing Fund II LLC
Plymouth, MNEmerging506(c)
First saleAug 2026
Raised$4.5M
Investors3
MinimumNone set
Offering506(c)
HB Prometheus, LLC
Edina, MNEmerging
First saleMay 2026
Raised$4.3M
Investors32
Minimum$11K
Offering506(b)
TCM Mexico LLC
Minneapolis, MNEmerging
First saleMay 2025
Raised$4.1M
Investors1
Minimum$100K
Offering506(b)
Iron North Investments, LLC
Albert Lea, MNEmerging
First saleApr 2025
Raised$3.9M
Investors38
MinimumNone set
Offering506(b)
HB SpaceX, LLC
Edina, MNEmerging
First saleJan 2026
Raised$2.1M
Investors16
Minimum$28K
Offering506(b)
Belridge Cerebras LP
Minneapolis, MNEmerging
First saleDec 2025
Raised$1.7M
Investors9
MinimumNone set
Offering506(b)
Roers Preferred Fund Select LLC
Plymouth, MNEmerging506(c)
First saleAug 2026
Raised$1.6M
Investors2
MinimumNone set
Offering506(c)
Varde CRE Lending Fund (Offshore), L.P.
Minneapolis, MNEmerging
First saleOct 2025
Raised$1.5M
Investors1
MinimumNone set
Offering506(b)
Roers Preferred Fund LLC
Plymouth, MNEmerging506(c)
First saleAug 2026
Raised$1.4M
Investors5
MinimumNone set
Offering506(c)
CP Fit, LP
Minneapolis, MNEmerging
First saleNov 2024
Raised$1.1M
Investors21
Minimum$25K
Offering506(b)
HB Moonshot Beverages, LLC
Edina, MNEmerging
First saleMar 2026
Raised$487K
Investors6
Minimum$10K
Offering506(b)
Proterra Net Lease Fund LP
Minneapolis, MNEmerging506(c)
First saleFeb 2026
Raised$239K
Investors0
MinimumNone set
Offering506(c)
Varde Asia Credit Fund III (Offshore), L.P.
Minneapolis, MN
First sale—
Raised$0
Investors0
MinimumNone set
Offering506(b)
Varde Asia Credit Fund III, L.P.
Minneapolis, MN
First sale—
Raised$0
Investors0
MinimumNone set
Offering506(b)
Northstar Direct Lending, L.P.
Minneapolis, MN
First sale—
Raised$0
Investors0
Minimum$2.0M
Offering506(b)
Northstar Direct Lending Feeder, L.P.
Minneapolis, MN
First sale—
Raised$0
Investors0
Minimum$15.0M
Offering506(b)
Northstar Direct Lending Leveraged, L.P.
Minneapolis, MN
First sale—
Raised$0
Investors0
Minimum$2.0M
Offering506(b)
Galliard Intermediate Aggregate Fund, LLC
Minneapolis, MN506(c)
First sale—
Raised$0
Investors0
Minimum$5.0M
Offering506(c)
Galliard Short Core Fund, LLC
Minneapolis, MN506(c)
First sale—
Raised$0
Investors0
Minimum$5.0M
Offering506(c)
Varde Asset Lending Fund, L.P.
Minneapolis, MN
First sale—
Raised$0
Investors0
MinimumNone set
Offering506(b)
Proterra Net Lease Common Fund LP
Minneapolis, MN506(c)
First sale—
Raised$0
Investors0
MinimumNone set
Offering506(c)
NSC Feeder Fund VII, LP
Wayzata, MN
First sale—
Raised$0
Investors0
MinimumNone set
Offering506(b)
NorthCoast Mezzanine SBIC IV, LP
Minneapolis, MN
First sale—
Raised$0
Investors0
MinimumNone set
Offering506(b)
Nord Bla Fund IV Access, LLC
Chaska, MN
First sale—
Raised$0
Investors0
MinimumNone set
Offering506(b)
Affordable Housing Accelerators Fund, LLC
Duluth, MN
First sale—
Raised$0
Investors0
Minimum$2.0M
Offering—