SAINT PAUL, Minnesota — August 28, 2023 — Mairs & Power Private Capital Management is pleased to announce that Scott Burns will be joining the firm as General Partner.
Mairs & Power Private Capital Management, dba Mairs & Power Venture Capital, is a wholly owned subsidiary of Mairs & Power, Inc., that was launched in 2022. Its mission is to partner with high potential venture-stage companies, particularly in the Software, Business Services, Healthcare, FinTech, EdTech, and other high growth sectors.
"I am thrilled to welcome Scott to the Mairs & Power Venture Capital team,” said John Bergstrom, General Partner. “His expertise as an entrepreneur and investor aligns seamlessly with our strategic vision. His history of successfully building his own companies and moving them through the venture stages makes him an instrumental addition for us.”
With a dynamic career spanning 25 years and a deep-rooted passion for supporting entrepreneurs, Burns brings his own extensive entrepreneurial experience across multiple successful ventures, having founded GovDelivery and Structural. GovDelivery was one of the first companies to move governments into the cloud and was sold in 2016 to an investment group led by Vista Equity Partners for $153 million. Structural was an employee connectivity and engagement platform that was sold to Augeo, a global leader in enterprise engagement and loyalty, in October 2022.
Burns’ impact has been recognized nationally and regionally through accolades such as being named a Most Admired CEO and a Tech Titan by the Twin Cities Business Journal. While leading GovDelivery, he received Fed 100 recognition from Federal Computer Week which recognizes the 100 most influential people in Federal technology.
He is active in the St. Paul and Minneapolis community, sitting on the board of the Star Tribune currently and serving in past board leadership roles with the St. Paul Chamber of Commerce, Friends of the St. Paul Public Library, and the St. Paul and Minnesota Foundation. He has been an active investor in startups and growth enterprises since 2010 through direct investments in companies and through participation in a number of venture capital funds. In 2021, Minnesota Governor Tim Walz appointed him to the Governor's Council on Economic Expansion which published a roadmap for economic expansion for the state of Minnesota in June 2022.
“My ultimate passion lies in empowering entrepreneurs with the resources they need to flourish, including capital, strategic guidance, and unwavering support," said Burns. "Having been an entrepreneur myself, I understand the pivotal role early-stage investors play in shaping the trajectory of innovative ventures.”
Burns joins Bergstrom, who helped launch Mairs & Power Venture Capital and was the first General Partner, and Austin Uline, hired as Principal in 2022. Bergstrom was introduced to Burns more than 20 years ago when Bergstrom became an investor and advisor with GovDelivery. They have collaborated on multiple ventures since that initial connection.
“The combination of John’s career of investing in, consulting with, and providing board governance to venture-stage companies and Scott’s experience starting, growing, and exiting private companies makes this a formidable venture capital team,” said Mark Henneman, Chairman and CEO of Mairs & Power. “I’m eager to see what they can accomplish as they come alongside venture-stage companies and unearth new investment opportunities.”
Whether looking at a company’s financials as a starting point or examining where a business’ talent and product positioning can be developed, Burns and Bergstrom are confident in finding companies with growth potential. Like its nearly 100-year-old parent company, Mairs & Power Venture Capital focuses on companies located in the Upper Midwest states of Minnesota, Wisconsin, Illinois, Iowa, and the Dakotas. They see the inherent advantages of the region, which combines a well-regarded educational ecosystem, Fortune 500 companies, and an environment where innovation can thrive.
“I know from experience that we can launch and build world class companies here,” Burns said. “We launched GovDelivery in St. Paul, and it continued a proud tradition of businesses known throughout the world that started in Minnesota, growing into a company with over a billion-dollar valuation. I’m excited to invest in the next generation of leading companies through Mairs & Power Venture Capital.”
About Mairs & Power Private Capital Management
Mairs & Power Private Capital Management, dba Mairs & Power Venture Capital, is a wholly owned subsidiary of Mairs & Power, Inc. It was launched in early 2022 with a mission to partner with high potential venture-stage companies, particularly in the Software, Business Services, Healthcare, FinTech, EdTech, and other high growth sectors. Venture investments are focused on Minnesota and the Upper Midwest, primarily through seed and early-stage rounds with a typical initial investment of up to $1 million per company, with opportunity for follow-on. Mairs & Power Venture Capital actively supports investments through board participation and consultation. For more information, please visit www.mairsandpower.vc.
MAIRS & POWER PRIVATE CAPITAL MANAGEMENT, LLC (DBA “MAIRS & POWER VENTURE CAPITAL”) IS A WHOLLY OWNED SUBSIDIARY OF MAIRS & POWER, INC. MAIRS & POWER, INC. DOES NOT HAVE ANY DIRECT RESPONSIBILITY FOR THE OPERATIONS OF MAIRS & POWER PRIVATE CAPITAL MANAGEMENT, LLC. MAIRS & POWER INC. DOES NOT MAKE ANY RECOMMENDATIONS REGARDING ANY INVESTMENTS OR ANY REPRESENTATIONS OR ASSURANCES CONCERNING THE PERFORMANCE OF MAIRS & POWER PRIVATE CAPITAL MANAGEMENT, LLC. ALL INVESTORS WILL BE REQUIRED EXPLICITLY TO ACKNOWLEDGE THE FOREGOING IN THEIR RELEVANT SUBSCRIPTION AGREEMENTS.