PE  Bluestem Capital

     Office Locations:

122 S. Phillips Ave, Suite 300
Sioux Falls, SD 57104
Phone: 605-331-0091
Fax: 605-334-1218



  • Middle Market



  • Information Technology
  • Manufacturing & Industrial
  • Retail & Restaurant



    Bluestem is a private equity investment company that has been a regional leader since 1989 in helping investors realize excellent returns, in helping worthy companies reach their potential, and in helping strengthen communities by stimulating their economy. Bluestem invests in companies in well-established venture capital markets, avoids start-ups and turnarounds, and focuses on businesses located in South Dakota. The firm prefers diversified funds, and achieves this through investments in a variety of industries including hospitality, restaurant, utilities, technology, manufacturing and energy. The firm makes typical investments between $500,000 to $3,000,000.



      Fund Name



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    Investment Firm Key

       VC = Venture Capital
       PE = Private Equity
       A = Angel
       I = Incubator
       MB = Merchant Bank
       VD = Venture Debt
       FI = Family Investment Office
       FOF = Fund of Funds
       ED = Economic Development Office   
       TT = Technology Transfer Office
       CVC = Corporate Venture Capital
       SEC = Secondary Purchaser
       HF = Hedge Fund/Mutual Fund
    Venture Capital
    Seed Stage
    (includes "pre-seed," or
    concept stage)
    No Revenue
    Early StageMinimal
    Growth Stage
    (also called Mid-stage)
    Expansion Stage
    (also called Late-stage)
    $7M and greater
    Private Equity
    Lower Middle Market$10M-$249M
    Middle Market$250M-$499M
    Upper Middle Market$500M-$1B
    Large Cap>$1B

    Investment Team:

    Name   Title
    Get the complete investment team + individual email addresses for investment team partners. Get personal images, LinkedIn links, investment specialties, office locations and more with a National Database subscription.
    Nikole Mulder Partner and Vice President
    Sandy Horst Partner and CFO
    Steve Kirby Founding Partner
    Tyler Stowater Partner and Vice President
    Yvonne Laur Administrative Assistant


    Recent Funding Events (trailing 12 months):







      Virtual Incision



      Series C


    Portfolio companies include:


    Recent News: