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50 South updates committee on North Dakota Growth Fund: 29 companies backed and outside capital mobilized
Summary
Cody Furst of 50 South reported the North Dakota Growth Fund had made new commitments and that portfolio funds and co‑investments had directed roughly $164.7 million into North Dakota companies, while reporting active dealflow across the state.
Cody Furst of 50 South Capital updated the Legacy Fund Advisory Committee on activity in the North Dakota Growth Fund, the state’s venture and private‑equity vehicle. Furst said the fund’s work since 2021 has produced a portfolio of fund commitments and direct co‑investments that now touch companies statewide.
Furst told the committee the state’s total Growth Fund commitments reached $250 million after the 2025 legislative appropriation and that 50 South had committed the fund into eight funds and made four direct co‑investments. He said 50 South’s portfolio and the managers it backs have invested more than $164.7 million into 29 North Dakota…
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