50 South Capital Advisors, LLC (“50 South Capital”), general partner of the North Dakota Growth Fund (NDGF) and global alternatives investment manager of Northern Trust Asset Management, received a commitment of $150 million from the North Dakota Legacy Fund. This commitment will further support the state’s entrepreneurial ecosystem through private equity and venture capital investments that have a strong risk-adjusted return potential and a nexus to the state of North Dakota. With the latest commitment to the NDGF, 50 South Capital is pleased to announce its newest investments in M25 and Broadwater Capital.
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M25 is an early-stage venture firm investing solely in tech startups headquartered in the Midwest. Since launching in 2015, M25 has invested in over 150 companies, including Bismarck-based Pavewise and Fargo-based Chipp. M25 has built a robust platform to support companies in the earliest stages of growth, including hosting the M25 Summit and Midwest Startups for companies to engage with additional investors and talent.
Broadwater Capital is an alternative investment firm, established in Fargo, that invests in the lower middle market. The firm focuses on mature companies headquartered in the greater Midwest and invests across sectors including agribusiness, business services, consumer, distribution, light industrials, manufacturing and technology.
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To date, the NDGF has invested $111.5 million in funds and co-investments. Fund investments represent diversification across vintages, strategies and stages of investments, including early stage venture capital, growth equity and private equity. As of December 31, 2024, over 35 companies across North Dakota have been impacted by the NDGF. The underlying portfolio represents investments in companies in Grand Forks, Minot, Bismarck, Williston and Fargo across manufacturing, energy, healthcare and technology sectors.
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“The commitments to M25 and Broadwater Capital represent the diversification of the NDGF to further support the state’s growing entrepreneurial ecosystem. Both firms share our conviction in the opportunity set in North Dakota, and bring additional expertise and resources to the state. We look forward to supporting more founders as they build and scale companies here in North Dakota,” 50 South Capital Director Kodee Furst said.
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Source : businesswire