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Raising capital for a Minnesota business through crowdfunding with small investments from a large number of investors

In Minnesota, beginning June 20, 2016, eligible businesses can use a crowdfunding exemption from securities registration to raise investment funds by selling securities to Minnesota residents. The exemption is known as the “MNvest Securities Registration Exemption”—or, simply, “MNvest.”

MNvest is not administered by the Minnesota Department of Commerce or any other state agency. MNvest is only a shorthand reference to a 2015 amendment to the Minnesota Securities Act (Minnesota Statutes, section 80A.461).  

Additional Resources

Want to know more about MNvest?

Important Notice Regarding Changes to the MNvest Law

During the 2017 legislative session, the statute that regulates MNvest was changed. The changes are effective as of: April 20, 2017.
Read the specific changes to the MN Statute §80A.461

Disclaimer for crowdfunding

Equity crowdfunding offerings are different from donation-based crowdfunding campaigns through websites like Kickstarter or GoFundMe. Unlike donation-based crowdfunding, equity crowdfunding involves the issuance of securities—meaning investors expect to receive something in return for their investment. 

Undertaking a securities offering is a serious matter. It can be costly and will take time away from running your business. While business owners and personnel can prepare the information requested on the MNvest notice form and file the appropriate documents with the Commerce Department, it is often beneficial to seek the assistance of counsel experienced in securities law to fully understand options and obligations surrounding the sale of securities.

The purpose of the information on this website is to introduce small businesses to the concept of raising capital through the MNvest crowdfunding exemption. It should not be relied upon to actually make a securities offering. There are many additional important issues that should be considered before making a securities offering. This information summarizes only some of the issues involved in conducting a crowdfunding offering.

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