Venture capital in North Dakota
No venture firm in our data is based in North Dakota. Below them are North Dakota’s other sources of capital, the LPs based here that report holding venture funds, and its SEC-registered family offices.
On this page: 7 other sources of capital 3 LPs.
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Other sources of capital in North Dakota
3 SBA lenders, 2 community development lenders, 1 sovereign wealth fund, and 1 SBIC. From public registers and what each organization publishes; see Capital Sources for every state.
| Source | Location | On the record |
|---|---|---|
| North Dakota Legacy Fund | Bismarck | $15.10B in assets |
| LongWater SBIC Fund I LP | Fargo | Hybrid · Hybrid Debt/Equity |
| CommunityWorks North Dakota | Mandan | Community development loan fund in Mandan, ND, certified by the US Treasury’s CDFI Fund. |
| Dakota Business Lending | Fargo | Community development loan fund in Fargo, ND, certified by the US Treasury’s CDFI Fund. |
| Alerus Financial, National Association | Grand Forks | 7(a) loans approved, fiscal year 2026: $16M |
| Bell Bank | Fargo | 7(a) loans approved, fiscal year 2026: $55M |
| Choice Financial Group | Fargo | 7(a) loans approved, fiscal year 2026: $16M |
LPs based in North Dakota
Foundations, pension plans, and other LPs here that report the venture funds they hold, by the number they hold. Local LPs often back local managers.
| # | LP | Location | Venture funds | In venture funds | Total assets |
|---|---|---|---|---|---|
| 1 | Offutt Family Foundation | Fargo | 2 | $2.9M | $381M |
| 2 | Glenn Perkins Educational Foundation | Williston | 1 | $1.2M | $32M |
| 3 | The Barry Foundation | Fargo | 0 | $892K | $55M |
About the data
An adviser’s state is where its Form ADV says its main office is. A fund-index firm is placed by the headquarters city the index lists, or by its Form ADV when the city doesn’t tell. Capital sources, LPs, and family offices are placed by the address their own register gives. Angel investors who list themselves are at hottub.vc/investors. Organizations only: no individuals are listed here, and a listing is a public record, not a recommendation. See the methodology.