ED/VD/PE  ND Development Fund


     Office Locations:

ND Department of Economic Development
1600 East Century Avenue, Suite 2
Bismarck, ND 58504
Phone: 701-328-5300
Fax: 701-328-5320



  • Early
  • Late
  • Middle Market



  • Consumer Products & Services
  • Education & Training
  • Manufacturing & Industrial



    The North Dakota Development Fund was created through legislation in 1991 as an economic development tool. It provides flexible gap financing through debt and equity investments for new or expanding North Dakota primary sector businesses. The Development Fund makes investments of up to $1,000,000. The fund invested $2,854,500 in 14 primary sector and child care businesses from July 1, 2012 to June 30, 2013. Since the inception of the Development Fund, it has invested $99 million in 533 companies with over $31 million invested in rural communities. The fund specializes in incubation, PIPES, seed, early, mid, and late venture investments.

    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.
    Dean Reese CEO
    Sara Isaak Accounting/Assistant Credit Analyst
    Scot Long Vice President


    Portfolio companies include:


    Recent News:

      There is no recent news for ND Development Fund.