Southern Minnesota Initiative Foundation Provides Equity Investments

OWATONNA - Southern Minnesota Initiative Foundation (SMIF) has recently approved funding from its Southern Minnesota Equity Fund to three businesses.

Ambient Clinical, Rochester created a software platform designed for data assimilation, communication, and analytics-based clinical decision support tools deployed in the intensive care unit (ICU) or emergency department of hospitals.

Xcede Technologies, Inc., Rochester designs, develops and manufactures innovative hemostatic (bleeding prevention) and sealant products for surgical application.

Sonex Health, LLC, Byron created the Stealth Microknife, which is a unique and patent-pending medical device that allows clinicians to perform carpal tunnel release surgery under ultrasound guidance in the office environment.

"We're pleased to invest in these high-tech businesses through our newly-created equity fund program," notes Tim Penny, SMIF President/CEO. "Our Foundation remains committed to providing resources to grow local businesses."

The Southern Minnesota Equity Fund provides capital and expertise to early-stage and start-up companies. The Fund partners with organizations and individual investors to leverage capital and expertise to grow innovative companies who will provide economic opportunities for Southern Minnesota.

SMIF provides a range of finance and management assistance services to start and grow businesses. To learn more, call Diane Lewis at 507-455-3215, or visit www.smifoundation.org. (SMIF is an equal opportunity lender.)

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