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MSP On Deck Podcast #27: Patrick Meenan From Arthur Ventures Joins Us, Top Tech Stories of 2018 And 2019 Predictions

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Our last episode of 2018 is with a guest and one of my favorite people in the Minnesota tech scene… Patrick Meenan (@pmeenan1), Partner with Arthur Ventures (@arthurventures).

We jump right in with who Patrick is and get history of Arthur Ventures. He talks about the investments they have made in 2018 and spends some time talking about investments to date in Minneapolis totaling 7 companies and $25M.

We also talk about:

  • When should someone contact him about funding
  • Their investment strategy
  • Why they invest anywhere but the Bay Area
  • How they find companies to invest in
  • What are the differences in the cities in which they have invested
  • Their recent investment in Nomics
  • What 2019 looks like for Arthur Ventures
  • What companies did they not invest in they wish they would/could have
  • Scaling recruiting, retention of staff and executive recruiting
  • Why a recruiting hire should be around 20-30 people. HR leadership around 50-60 people
  • How the Minneapolis and St Paul tech scene is doing

We transition to top business stories from MSP Business Journal in 2018 including Bite Squad, Bright Health, Bind, Total Expert, Flip Grid and Reeher.

We talk about leading rounds, being on a board, when/why companies disclose purchase prices (or not) and what happens post acquisition.

We spend some time talking about IPO’s and private equity acquisitions.

Predictions… for 2018 I said we would see greater churn in the local job market. We would see more companies hiring, more companies laying off people and more people voluntarily looking around for some thing new. While I don’t have hard data it came true. For 2019 I am predicting even more meaning things are going to get a little more intense this year as the economy, tariffs, interest rates and politicians do what they will do.

Patrick believes that with everything I mention (along with stock market volatility) that he sees there being no impact on the ability for companies to raise capital.

Casey predicts Code42 filing for an IPO and someone will acquire them before it happens.

Kathy predicts someone in the Twin Cities will start a scooter company.

And we close with our dares.

We had a lot of fun doing this one. Thank you Patrick for hanging out with us.

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