North Dakota Industrial Commission
Overview
The North Dakota Industrial Commission (NDIC) is a state government body established in 1919, composed of the Governor, Attorney General, and Agriculture Commissioner. It oversees various state-owned enterprises and manages numerous programs that provide financing through grants, loans, and equity investments to businesses and projects across several sectors. Key investment-related activities are conducted through entities and programs under its jurisdiction, including the North Dakota Development Fund (which provides loans and equity investments), the Clean Sustainable Energy Authority (grants and loans), the Renewable Energy Program, and the Oil and Gas Research Program. Its mission is to foster economic development, support energy innovation, and manage state resources.
Portfolio Companies
10
Website
nd.govInvestments
| Company | Date | Stage | Lead |
|---|---|---|---|
| Bushel | Oct 2023 | Grant | Co-investor |
| Packet Digital | May 2017 | Grant | Co-investor |
| BWR Innovations | Jul 2025 | Grant | Lead |
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Sector & Stage Mix
Industry, funding stage, and valuation band breakdowns.
FAQ
Where is North Dakota Industrial Commission based?
North Dakota Industrial Commission is headquartered in Bismarck, North Dakota, United States.
When was North Dakota Industrial Commission founded?
Founding year information for North Dakota Industrial Commission is not publicly available.
How many portfolio companies does North Dakota Industrial Commission have?
North Dakota Industrial Commission has 10 portfolio companies in Caplight's dataset.
What are some companies in North Dakota Industrial Commission's portfolio?
Portfolio companies visible on Caplight include Bushel, Packet Digital, BWR Innovations.
What was North Dakota Industrial Commission's most recent investment shown here?
North Dakota Industrial Commission's most recent investment in this portfolio sample was in BWR Innovations in 2025.
What sectors does North Dakota Industrial Commission focus on?
North Dakota Industrial Commission focuses on Energy & Sustainability, Energy & Sustainability, Energy & Sustainability, Energy & Sustainability, Energy & Sustainability, Mobility, Transportation & Logistics, Energy & Sustainability, Energy & Sustainability, Enterprise Software, Frontier & Industrial Tech, Energy & Sustainability, Frontier & Industrial Tech, FinTech, Frontier & Industrial Tech, Consumer & Commerce, Frontier & Industrial Tech, Frontier & Industrial Tech, Frontier & Industrial Tech, Frontier & Industrial Tech, Frontier & Industrial Tech.
What company stages does North Dakota Industrial Commission focus on?
North Dakota Industrial Commission typically invests at the MultiStage stage.
What is North Dakota Industrial Commission's AUM?
North Dakota Industrial Commission's assets under management are estimated between $10.9B and $10.9B.