The North Dakota Development Fund focuses on providing gap financing and equity investments to primary-sector businesses, excluding agriculture, within North Dakota. The fund aims to support projects that are feasible and have a reasonable chance of success. It offers financial coordination between various sources, the business, and the community, typically engaging in pre-seed and other unspecified investment rounds.

Notable portfolio companies include CoSchedule, which has raised $2 million, Lucit with $600,000, and WalkWise with $1.2 million. The fund is known for its hands-on approach in coordinating financing efforts and ensuring community involvement, providing a unique value-add through its comprehensive support system for startups.