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Dakota Venture Group (DVG) was founded in 2006 in Grand Forks, North Dakota, as the first student-run venture capital fund in the United States. Established with contributions from Bart Holaday and the Dakota Foundation, DVG aims to provide University of North Dakota students with opportunities to engage in venture capital and angel investing. The organization has evolved to become a significant player in the Midwest startup ecosystem.
Currently, DVG manages two primary funds: the Innovation Fund and Harvest Fund I. The Innovation Fund is structured as an Evergreen Fund, designed to empower startups in the Midwest. Harvest Fund I, launched in 2012, focuses on high-growth, early-stage ventures while enhancing student learning through hands-on involvement in due diligence and portfolio management. DVG continues to promote innovation and economic growth in the Midwest, with a commitment to supporting startups across various sectors.
Dakota Venture Group invests in high-growth ventures across the United States, with a particular emphasis on fostering innovation and economic growth in the Midwest. The organization targets early-stage investments, specifically in the healthcare, technology, and energy sectors. DVG operates two main funds: the Innovation Fund, which is an Evergreen Fund aimed at empowering startups, and Harvest Fund I, which focuses on delivering strong returns while providing experiential learning opportunities for students.
Investment stages include Pre-seed, Seed, Seed+ (Extension), and Series A. DVG seeks to identify and nurture startups that demonstrate potential for significant growth and innovation. The organization values founders who are passionate about their ventures and are committed to making a positive impact in their respective industries. DVG's deal structure preferences include co-investment opportunities, allowing for collaboration with other investors to maximize support for portfolio companies.
Dakota Venture Group's portfolio includes a range of companies across various sectors, particularly focusing on healthcare, technology, and energy. Notable active investments include:
The Innovation Fund and Harvest Fund I are central to DVG's investment strategy, with the former established through a donation from the Dakota Foundation. Harvest Fund I enhances student learning through hands-on involvement in due diligence and portfolio management, allowing students to gain practical experience while contributing to the fund's success.
Chase Otterson: Chairman of Dakota Venture Group, Chase has been instrumental in guiding the organization and fostering its mission of empowering students in venture capital.
Kaleb Martin: Managing Director of Investor Relations, Kaleb focuses on building relationships with investors and ensuring effective communication between the fund and its stakeholders.
Logan Wieler: Managing Director of Operations, Logan oversees the day-to-day operations of DVG, ensuring that the organization runs smoothly and efficiently.
Collin Horning: Managing Director of Finance, Collin manages the financial aspects of the organization, including budgeting and financial reporting.
Trevor Soderholm: Managing Director of Development, Trevor is responsible for developing new initiatives and partnerships that align with DVG's mission.
Michael Hennen: Chairman Emeritus, Michael has played a significant role in the establishment and growth of DVG, providing valuable insights and guidance.
To pitch Dakota Venture Group, startups should submit their pitch decks through the designated channel on their website at Get Funded. The pitch deck should include a clear overview of the business model, market opportunity, competitive landscape, and team qualifications. DVG values concise and compelling presentations that effectively communicate the startup's vision.
Response times may vary, but founders can expect to hear back regarding their submissions. Warm introductions are beneficial but not mandatory. DVG encourages all startups that meet their investment criteria to apply.
Dakota Venture Group runs the Harvest Fund II, which aims to promote economic growth in the Midwest through startup funding. This fund focuses on sectors such as unmanned aircraft systems, automation, and energy. The program is designed to provide financial support to innovative startups while enhancing the educational experience for students involved in the fund.
Eligibility for participation in Harvest Fund II typically includes alignment with DVG's investment criteria and potential for significant growth. Startups interested in applying can find more information on the DVG website.
In 2023, Dakota Venture Group has continued to promote its mission of providing students with hands-on experience in venture capital and angel investing. The organization has been active in updating its website and encouraging startups to submit pitch decks for funding consideration.
Additionally, DVG has highlighted its commitment to fostering innovation and economic growth in the Midwest through its investment activities. The organization remains focused on supporting high-growth ventures in healthcare, technology, and energy sectors.
What are Dakota Venture Group's investment criteria?
Dakota Venture Group focuses on high-growth ventures in the healthcare, technology, and energy sectors. They invest in companies at the Pre-seed, Seed, Seed+ (Extension), and Series A stages. DVG looks for startups that demonstrate significant growth potential and innovation.
How can startups apply or pitch to Dakota Venture Group?
Startups can submit their pitch decks through the DVG website at Get Funded. The organization encourages entrepreneurs to provide detailed information about their business model, market opportunity, and team.
What makes Dakota Venture Group different from other venture capital firms?
DVG is the first student-run venture capital fund in the United States, providing unique opportunities for University of North Dakota students to gain hands-on experience in venture capital and angel investing. This educational component sets DVG apart from traditional venture capital firms.
What is the geographic scope of Dakota Venture Group's investments?
Dakota Venture Group primarily invests in startups across the United States, with a strong emphasis on fostering innovation and economic growth in the Midwest.
What is the fund size and check size for investments?
While specific fund sizes are not disclosed, DVG manages two primary funds: the Innovation Fund and Harvest Fund I. Check sizes typically align with early-stage investment standards, focusing on providing sufficient capital to support startup growth.
What kind of post-investment involvement does Dakota Venture Group have?
DVG emphasizes experiential learning for its student members, who are actively involved in due diligence and portfolio management. This hands-on approach allows DVG to provide ongoing support to portfolio companies while enhancing the educational experience for students.
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