The firm, based in Eden Prairie, United States, focuses on accelerating the growth of early-stage companies in the medical and therapeutics sectors. It typically invests in startups that are 6-10 years old and participates in rounds with 5 other investors. Notable portfolio companies include Disc Dynamics, HighJump Software, and Celleration. While the fund primarily invests in the United States, it has also received funding from St. Paul Venture Capital, Prism Capital Corporation, and Affinity Capital Management. Upper Lakes Growth Capital has a track record of fewer than 2 investments per year, with deals ranging from $10-50 million. The fund has been active since 2002 and has had a higher exit rate compared to other organizations, with the most exits occurring in 2017.