About this programme
Wonder Fund North Dakota is a $45 million direct-investment program for early-stage North Dakota companies, part of a broader $58.6 million allocation the state received in State Small Business Credit Initiative (SSBCI) funds from the U.S. Department of Treasury. That SSBCI allocation funds two equity programs: Wonder Fund North Dakota and the Angel Match Program.
The fund is managed by O'Leary Ventures (OLV), which the North Dakota Department of Commerce describes as a nationally acclaimed generalist venture capital investment platform. OLV invests as a co-investment vehicle alongside private investors, focused on Seed through Series A-plus stage businesses across a broad spectrum of products and services that support North Dakota's economy, with a preference for low environmental impact.
How it works
OLV co-invests alongside private investors in qualifying rounds. Funding rounds the fund participates in must be under $20 million, and target companies have fewer than 500 employees.
The application process runs through the fund's website: complete the application form, submit a business pitch, and the fund management team reviews the submission and evaluates growth potential.
Who can apply
The company must be an early-stage business headquartered in North Dakota with fewer than 500 employees. North Dakota-founded companies are prioritized.
Companies based outside North Dakota can still qualify if they relocate to the state during the funding process, or if their product or service has a material impact on North Dakota.
Companies must meet the U.S. Department of Treasury's SSBCI criteria and demonstrate potential for profitability, scalability, and economic impact within North Dakota.
How to apply
- Complete the application form on the Wonder Fund North Dakota / O'Leary Ventures website.
- Submit a business pitch alongside the application.
- The fund management team reviews the submission and evaluates the company's growth potential.
Frequently asked
Who manages Wonder Fund North Dakota?
O'Leary Ventures (OLV) manages the fund and invests alongside private investors as a co-investment vehicle.
Does my company have to be based in North Dakota?
North Dakota-founded companies are prioritized, but out-of-state companies can qualify if they relocate to North Dakota during the funding process or if their product or service materially benefits the state.
What size funding rounds does the fund participate in?
Rounds must be under $20 million, and target companies have fewer than 500 employees, with a focus on Seed through Series A-plus stages.
How do I apply?
Through the fund's website: complete the application form and submit a business pitch. The management team then reviews it and evaluates growth potential.
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All 8 programmes in North Dakota →
Reviewed 2026-09-25. Programmes change, so check eligibility, amounts and deadlines on the official page before you apply. CapEasy is a private firm and is not part of any government body.