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Venture Capital Program


Rapid growth companies can look to the Venture Capital Fund as a possible source of equity.

The Venture Capital Program is an innovative financial program that provides flexible financing through debt and equity investments for new or expanding businesses in the state of North Dakota. The program is offered through and administeredy by the North Dakota Development Fund. It can fund rapidly growing companies which require equity funding.

The NDDF may provide funding for early stage companies which can show clear proof of completed product development and market acceptance as evidenced by growing sales. They will invest in a variety of technologies and types of businesses, including North Dakota Department of Commerce strategic target industries. The NDDF will also invest in growth and later stage manufacturing, service and businesses with profitable growth potential.

For more information about this program, contact:

North Dakota Development Fund
PO Box 2057
Bismarck ND 58502-2057
(701) 328-5300
Email: commerce@nd.gov

To Apply for the New Venture Capital Program

NDDF Application
File Size: 266 kb

Qualifying Requirements

  • North Dakota industries or businesses that will benefit the state and/or local communities.
  • A successful and experienced management team.
  • Cooperative management predisposed to communicate and work closely with outside investors toward common goals.
  • A market with favorable size, growth and competitive characteristics.
  • Adequate capital being raised to support operating objectives.
  • Companies working to commercialize university developed technology within the North Dakota University System.

Loan Limits

The Venture Capital Program will invest up to $100,000,000 with appropriate capital structures favoring the following investment instruments:

  • Subordinated debt with warrants to acquire common stock.
  • Preferred stock with warrants to acquire common stock.
  • Common stock.

Use of Proceeds

The NDDF's capital may be used to develop production and increase sales growth and management capabilities.
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