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North Dakota Development Fund
The North Dakota Development Fund facilitates collaboration between financing sources, businesses, and communities. It invests in projects with feasible...
North Dakota Development Fund
The North Dakota Development Fund facilitates collaboration between financing sources, businesses, and communities. It invests in projects with feasible prospects for success. The fund has made 10 investments, including a Convertible Note in WindSpark.io on October 24, 2025.
General information
Firm type
Private Equity
Year founded
1991
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Bismarck
Corporate office
1600 E. Century Ave. Suite 6, Bismarck, ND, United States
Frequently asked questions
Who oversees investment decisions at the North Dakota Development Fund?
The fund operates within the North Dakota Department of Commerce, but the specific investment committee members or managing directors are not named on the state's website. General inquiries are directed to the Economic Development and Finance division at the Department of Commerce.
What investment stages does the Development Fund target?
The fund's strategy covers Early Stage, Expansion/Late Stage, and Growth equity, as well as general Venture investing. This suggests a flexible mandate that can support companies from initial product development through scaling.
Does the Development Fund participate in fund commitments or only direct deals?
The current public profile aligns with a direct investment model, placing capital into operating companies rather than acting as a limited partner in other venture funds. No fund-of-funds activity is documented.
Is the North Dakota Development Fund a single family office?
No. It is a state-run asset manager structured as a public-private investment vehicle within the North Dakota Department of Commerce, not a family office managing private wealth.
How is the Development Fund capitalized?
Capital derives from state appropriations and public-sector funding mechanisms, not private limited partners. This creates a mandate shaped by economic development statutes alongside financial return objectives.
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