Founded in 2021, Homegrown Capital is a South Dakota–based venture capital firm that invests in early-stage, technology-driven companies across the Midwest and Northern Plains. Our mission is to demonstrate that world-class businesses can be built “between the coasts” by leveraging deep regional networks, a hands-on partnership model, and board-level guidance to accelerate growth and long-term success.
General Partners Tim Weelborg and Matt Paulson bring decades of deal-making experience to every investment. Tim Weelborg has facilitated over 100 venture and angel transactions, established 14 community-based angel funds in South Dakota, and previously served as Executive Director of the South Dakota Enterprise Institute. Matt Paulson has personally invested in more than 75 startups—including Buffer, Bushel, Density, Dollar Shave Club, Lyft, Prismatic, and Wikia—and is the founder and former CEO of MarketBeat, as well as an active board member for several high-growth companies.
We focus on Seed to Series A rounds, typically leading or co-leading investments of $500,000 to $2 million in companies that have proven product-market fit and early traction. Our industry preferences include B2B software, AgTech, FinTech, and media/subscription models—sectors where technology can drive outsized scalability without excessive regulatory hurdles. While our core activity is in the Midwest and Northern Plains, we remain open to exceptional “between-the-coasts” opportunities that align with our hands-on growth approach
Since launching our inaugural $17.2 million fund in 2021, Homegrown Capital has backed a diverse set of innovators—including Grain Weevil, Prismatic, ProsperStack, SiteKick, Soiltech Wireless—and launched its sophomore fund in May 2025 targeting $30 million to meet growing founder demand.
About Tim
Tim Weelborg is a managing partner and co-founder of Homegrown Capital. He is involved with every aspect of the venture business from fundraising and investor relations to deal sourcing and due diligence to portfolio management and board participation. He serves on the board of directors of several portfolio companies of the Existing HGC Funds (as defined below), including Soiltech Wireless, Sentinel Fertigation, School of Traditional Skills, SiteKick, and Devii. He also serves as a board observer for several other portfolio companies.
Prior to launching Homegrown Capital, Tim worked at the Enterprise Institute (EI). He joined EI in 2003 as the Assistant Director specializing in finance. Tim was promoted to Executive Director in 2009. In addition to his management responsibilities, Tim also worked with highgrowth entrepreneurs as an entrepreneur coach and worked with early-stage investors. Tim and the Enterprise Institute are credited with formalizing angel investing in South Dakota by creating a nationally recognized angel fund network, consisting of 14 angel investment funds throughout South Dakota at the time Tim left the company.
Tim also worked as a corporate financial analyst with John Morrell & Co. in Sioux Falls, a business analyst in the marketing and new business development divisions of Navitaire, a Minneapolis based software company, and he was the sales and marketing director for Med-Pac, Inc. in Fargo, ND. He served as an adjunct professor at South Dakota State University for 10 years, teaching courses on finance and new venture management in the entrepreneurial studies program. He has been an active real estate investor and founded a full-service property management firm in 2009 which he successfully sold in 2014.
Tim received his Bachelor of Science degree in Business Economics from South Dakota State University and an M.B.A. from Colorado State University. Tim is also a certified Economic Development Finance Professional and a certified Financial Modeling and Valuation Analyst. Tim is also a graduate of VC University, a program for venture capital practitioners hosted by Berkeley Law School and the National Venture Capital Association.
About Matt
Matt Paulson is a managing partner and co-founder of Homegrown Capital. He is involved with every aspect of the venture business, including deal sourcing, selection, analysis, monitoring, and administration. He currently serves on the board of directors for two Existing HGC Fund portfolio companies, Pitchly, and Prismatic.
Matt is also the founder and CEO of MarketBeat, an Inc. 5000 financial media company that empowers individual investors to make better trading decisions with real-time financial data, indepth market analysis, and best-in-class stock research tools. MarketBeat has been recognized by Barron’s, Entrepreneur, Financial Times, Inc., and NASDAQ for its rapid growth and success. With more than 5 million subscribers, MarketBeat is the largest digital media company in the
Dakotas.
Matt is also one of the most active venture capital investors in the Midwest. Matt has personally invested in more than 80 high-growth technology companies including Buffer, Bushel, ConvertKit, Density, Dollar Shave Club, Lyft, Prismatic, and Wikia. Prior to launching Homegrown Capital, he served as an officer for three angel investment funds in South Dakota. Matt also invests in commercial real estate as a general partner at Cresten Capital, including ownership interests in more than 30 apartment complexes and retail centers.
Matt received his Bachelor of Science degree in Computer Science from Dakota State University, with a minor in mathematics. Matt also has a Master of Science in Information Systems degree from Dakota State University, a Master of Arts in Christian Leadership degree from Sioux Falls Seminary, and an honorary Doctor of Science in Public Service from Dakota State University.