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Great North Ventures is an early-stage venture capital firm founded in 2017 by twin brothers Rob and Ryan Weber. The firm is headquartered in Minneapolis, Minnesota, and has a secondary presence in Silicon Valley. Great North Ventures focuses on investing in technology-driven startups, leveraging the founders' entrepreneurial backgrounds from the early internet boom to identify and support innovative companies. The firm has successfully raised two funds, with Fund II closing at $40 million in May 2022.
Currently, Great North Ventures manages a portfolio of over 50 companies, demonstrating a strong commitment to capital efficiency and sustainable growth. The firm emphasizes a hands-on approach, providing strategic guidance and industry insights to help startups scale effectively. Notable milestones include successful exits from companies like Quicklly and Misty Robotics, showcasing the firm's ability to identify high-potential investments.
Great North Ventures invests primarily in early-stage, capital-efficient technology startups, concentrating on two main areas: Vertical AI and Embedded Finance. Vertical AI encompasses industry-specific artificial intelligence solutions that automate tasks and deliver measurable business outcomes. This focus allows the firm to back companies that can demonstrate rapid ROI and build defensible data moats.
Embedded Finance refers to software that integrates financial services into existing workflows, enhancing user experience and operational efficiency. Great North Ventures targets investments across pre-seed to Series B stages, primarily within the United States. The firm seeks startups that exhibit strong growth potential without excessive burn rates, ensuring a sustainable path to success.
Great North Ventures has built a diverse portfolio of technology-driven companies, with notable investments including:
Other notable portfolio companies include Quicklly, 2ndKitchen, Misty Robotics, Flywheel, Yardstik, Inhabitr, EmpowerU, and Carbon Origins. The firm has successfully exited several investments, demonstrating its ability to identify and support high-growth startups.
Rob Weber: Co-founder and Managing Partner. Rob has a background in entrepreneurship and technology, having built and scaled businesses during the early internet boom. He is also an active blogger and thought leader in the venture capital space.
Ryan Weber: Co-founder and Managing Partner. Ryan shares a similar entrepreneurial background with his twin brother Rob, focusing on identifying and supporting innovative startups.
Grant Gibson: Principal. Grant was promoted from Associate/Senior Associate and plays a key role in sourcing and evaluating investment opportunities.
Joseph Daher: Senior Associate. Joseph contributes to the firm's investment strategy and portfolio management, leveraging his expertise in technology and finance.
To pitch Great North Ventures, founders should visit their website and submit their pitch deck through the provided channels. It is recommended to include a concise overview of the business model, market opportunity, and financial projections. The firm values clarity and thoroughness in the pitch materials.
Response times may vary, but founders can expect to hear back within a few weeks. Warm introductions are preferred, as they can facilitate a more favorable review process.
In September 2025, Great North Ventures led a $2 million seed round for NROC Security, a company focused on GenAI workplace security. This investment highlights the firm's willingness to engage in international deals while maintaining its Midwest roots.
Great North Ventures has also been active in sharing insights through blog posts, discussing trends in buy now, pay later (BNPL) services and revenue growth stories of portfolio companies like Quicklly. Their ongoing engagement with industry developments reflects their commitment to supporting portfolio performance.
What are Great North Ventures' investment criteria?
Great North Ventures focuses on early-stage, capital-efficient technology startups, particularly in the sectors of Vertical AI and Embedded Finance. They seek companies that demonstrate strong growth potential without high burn rates.
How can I apply or pitch to Great North Ventures?
Founders can pitch their startups through the Great North Ventures website. It is advisable to include a clear business model, market analysis, and financial projections in the pitch deck.
What makes Great North Ventures different from other VC firms?
The firm emphasizes capital efficiency and focuses on technology-driven startups that can deliver measurable business outcomes. Their founders' backgrounds in entrepreneurship provide unique insights and support for portfolio companies.
What is the geographic scope of Great North Ventures?
While primarily focused on the Midwest, Great North Ventures is open to investing nationally, having engaged in co-investments with companies based in Helsinki and New York.
What is the typical check size for investments?
Great North Ventures typically invests between $250,000 and $1 million in initial funding rounds, with active follow-on investments in early-stage rounds.
What kind of post-investment involvement can founders expect?
The firm provides active engagement with portfolio companies, offering strategic guidance, industry insights, and access to a network of resources to help startups scale effectively.
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