North Dakota
State Resources
The North Dakota Economic Development & Finance office is “charged with coordinating the state’s economic development resources to attract, retain and expand wealth.” The department “leads the state’s efforts to attract, retain and expand economic wealth. Charged with coordinating and focusing the state’s economic development resources, the business development team works closely with national and local partners to accomplish that task.”
North Dakota Development Fund, Inc.
North Dakota Development Fund, Inc. (NDDF) was established in 1991 and provides “flexible gap financing” through loans and equity investments not available from most conventional lenders to support new and expanding businesses across the state. The program is designed to support early-stage, high-growth North Dakota businesses by matching private angel investments with direct equity or convertible note funding. The NDDF makes investments of up to $3 million through innovative financing mechanisms including direct loans, participation loans, and subordinated debt and equity investments. NDDF coordinates efforts between the sources of financing, the business, and the community. NDDF oversees two programs that are direct investment programs that will provide equity support directly to small businesses and startups by co-investing alongside private investors.
North Dakota Development Fund, Inc.:
NDDF also operates another program, the AMP funded through the State Small Business Credit Initiative. AMP supports high-growth early-stage primary sector North Dakota businesses by matching investor commitments of up to $250,000 per business with a minimum match amount of $10,000.
Wonder Fund North Dakota:
NDDF selected the venture capital investment firm, O’Leary Ventures as a partner to manage a $45 million Wonder Fund North Dakota investment program by providing early-stage investment opportunities for financial and operational growth. The fund is used to invests in early-stage businesses with less than 500 employees headquartered in North Dakota.
