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Business Wire
30-07-2025
- Business
- Business Wire
North Dakota Growth Fund Receives Additional $150 Million Commitment and Announces Two New Investments
FARGO, N. D.--(BUSINESS WIRE)--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. 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. 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. '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. More information on the Fund can be found at About 50 South Capital Advisors, LLC 50 South Capital Advisors, LLC is an alternatives asset management firm designed to meet the core strategic needs of investors seeking access to private equity, private credit and hedge funds. Its highly experienced team works closely with a wide range of investors to fulfill specific investment objectives and create lasting relationships. 50 South Capital's investment philosophy focuses on providing access primarily to small-to-mid sized managers that offer unique and differentiated sources of return. 50 South Capital is a wholly owned subsidiary of Northern Trust Corporation. Visit for more information. About Northern Trust Asset Management Northern Trust Asset Management is a global investment manager that helps investors navigate changing market environments in efforts to realize their long-term objectives. Entrusted with $1.3 trillion in assets under management as of June 30, 2025, we understand that investing ultimately serves a greater purpose and believe investors should be compensated for the risks they take — in all market environments and any investment strategy. That's why we combine robust capital markets research, expert portfolio construction and comprehensive risk management in an effort to craft innovative and efficient solutions that seek to deliver targeted investment outcomes. As engaged contributors to our communities, we consider it a great privilege to serve our investors and our communities with integrity, respect and transparency. Northern Trust Asset Management is composed of Northern Trust Investments, Inc., Northern Trust Global Investments Limited, Northern Trust Fund Managers (Ireland) Limited, Northern Trust Global Investments Japan, K.K., NT Global Advisors, Inc., 50 South Capital Advisors, LLC, Northern Trust Asset Management Australia Pty Ltd, and investment personnel of The Northern Trust Company of Hong Kong Limited and The Northern Trust Company. About Northern Trust Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking services to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 24 U.S. states and Washington, D.C., and across 22 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of June 30, 2025, Northern Trust had assets under custody/administration of US$18.1 trillion, and assets under management of US$1.7 trillion. For more than 135 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit us on Follow us on Instagram @northerntrustcompany or Northern Trust on LinkedIn. Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Global legal and regulatory information can be found at The publisher's sale of this reprint does not constitute or imply any endorsement or sponsorship of any product, service or organization.
Forbes
29-07-2025
- Business
- Forbes
Fargo North Dakota: A New AI Hub
MCLAUGHLIN, ND - JULY 9, 2018: North Dakota welcome sign along the highway at the state border We tend to think of American tech as being isolated in places like Irvine, Palo Alto and around the San Fernando Valley, out in sunny California, but in actuality, there's a lot happening further east, on the prairie. Take Fargo, North Dakota, where entrepreneurs are building some of the most interesting new AI use cases and applications, with less fanfare than, say, what Apple and Microsoft did in the oughts. Actually, it seems that Microsoft is involved in the tech ecosystem of the Midwestern region, but there's also a groundswell of local businesses innovating, nonprofits and trade groups participating, and local government chipping in. A Togetherness Mindset One thing you notice about enterprise in this part of America is that it's all about collaboration. People might not use that term, collaboration, that much, because it sounds sort of stilted. It's too formal a way to express what comes naturally to so many around Fargo and its environs. Peter Chamberlain, an MIT grad and the founder and CEO of Walkwise, a Fargo-based business, explained this to me as he detailed the involvement of individual businesses, orgs like Grand Farm and Emerging Prairie, and public investment by North Dakota's program's LIFT, APUC, and the Bank of North Dakota, as well as government initiatives. 'The brutal winters (here) create a culture of community where neighbors have to help each other,' he said, citing some of these ways that people support each other: snow plowing, jumping cars, pushing cars out of snow banks, giving people rides, or lending equipment. 'This trickles into entrepreneurship where all these founders kind of 'have each other's back.'' Deciphering Risk for Seniors Peter Chamberlain, CEO of Walkwise holding his certificate of one of his patents (left) and his ... More wheel product (right) in his startup office in Fargo ND There's more about Chamberlain's business in local media, as in this piece by Fargo Inc. magazine. Essentially, the company is demystifying predictions around medical events for seniors. Chamberlain described how the system works formally: 'Non-intrusive data on high-risk seniors must be collected continuously and compared to the model, essentially 'prompting' the model to determine if the current, real-time behavior has a high likelihood of leading to an adverse health event,' he said. He gave two examples: 'Are you concerned if someone doesn't move for 4 hours during the day?' he asked. 'Perhaps not, unless they are diagnosed with congestive heart failure, and the AI model indicates that those with CHF have a 60% chance of ending up in the hospital if they have more than two 4-hour inactivity periods in a day.' And this example of statistical analysis: 'Are you concerned if someone's activity levels drop by 40% over a two-day period? Probably not! But what if the AI knew that there was also an outbreak of respiratory viruses in the area, the patient was recently diagnosed with COPD, and that Tuesday and Wednesday were typically higher-than-average mobility days of the week? Now you can start making data-driven healthcare decisions using AI.' Fargo also has a large Sanford Health presence, the largest rural healthcare provider in the United States, giving Chamberlain access to a wider range of testing populations. These stories of community-driven innovation are starting to ripple beyond state lines. Events like Chipp Con and Grand Farm's Elevate: An AI in Agriculture Summit have drawn startups, investors, and thought leaders from across the country to Fargo, turning the city into an unlikely gathering point for AI conversations. Startup accelerator gener8tor is now engaged in the community as well. The Greater Community This is just one of many examples of how new companies are emerging in the new era of AI utilization. Modern commentary on the takeoff of AI on the American prairie points out that it's not just about lower tax rates on real estate parcels, or better recruitment – that there's a deliberate building of AI infrastructure here in some areas that have been ignored by industry for too long. That community mindset is also reflected in the way North Dakota invests in its future. The state has built a robust foundation for innovation through legislative programs and investment funds that support entrepreneurs from idea to scale. State Representative Mike Nathe, who sponsored North Dakota's LIFT and In-State Investment programs, emphasizes the importance of initiatives like these in driving innovation across the state. 'We've worked hard to create an environment where entrepreneurs have the tools they need to build and grow,' said Nathe. 'Programs like the LIFT Fund and the North Dakota Growth Fund are helping startups tackle ambitious ideas while strengthening our economic future.' One such effort is the North Dakota Growth Fund (NDGF), created in 2021 by the State Investment Board (SIB) to advance innovation and private-markets investment by seeking investments that provide strong risk-adjusted returns and support North Dakota's growing entrepreneurial ecosystem. The $100 million multi-stage investment fund, managed by 50 South Capital, targets venture capital, private credit, private equity, growth equity, infrastructure, and real assets - all with a focus on opportunities connected to North Dakota. Meanwhile, the ND Legacy Fund, a state sovereign wealth fund set up with oil and gas money, has also begun playing a role in supporting AI infrastructure - and the governor's office has this to say: 'With our all-of-the-above energy approach and nation-leading efforts in carbon capture, utilization and storage, we are well-positioned to support data centers and other energy-intensive industries with environmental stewardship while attracting high-paying jobs and diversifying our economy,' Gov. Doug Burgum said in a press release around the setup of a data center in ND. To many, these are the types of partnerships we will need to really supercharge the economy in our respective states as the AI era continues. 2025 has been quite a year, and we have all fall and winter to see additional changes. Will we build positive outcomes with AI? Some in the Midwestern heartland are ebullient.
CBS News
25-03-2025
- Health
- CBS News
Do sleep trackers help you get better sleep?
More than one-third of Americans have turned to apps or devices to track the quality of their sleep. But do sleep trackers help you get better sleep? Now, more people than ever before have their eyes on their nocturnal goals. Whether it's an Apple Watch, Fitbit, Oura Ring or apps, 35% of Americans are tracking sleep, according to the American Academy of Sleep Medicine. When asked how often people take sleep trackers up, Fargo-based Dr. Seema Khosla said, "every single day, for years and years and years, every day, we'll toggle through, you know, they'll hand over their phone, and I'll toggle through, and we'll kind of compare." Khosla says even she doesn't know exactly how the apps track sleep, as it's proprietary information. But they are getting more specialized, like Apple's new sleep apnea sensor. Still, she says gauging accuracy is tricky. "So it's a very, very competitive industry, right? So, is Apple the same as Fitbit the same as Garmin? No, but can we really know what all the algorithms and signals are?" Khosla said. Khosla added that she consistently sees correlations between the device data and her sleep lab data. As for the device users, a survey shows 77% of them found sleep trackers helpful, according to the American Academy of Sleep Medicine. WCCO asked Khosla if she thinks devices lead to better sleep. "I think a lot of it depends on why you used it," she said. "So if you used it because you're worried about snoring, and then you do a test and you find out you have sleep apnea, and then you get on treatment, then, yeah, I think that improves your sleep." The problem, Khosla says, is when users start fixating on daily sleep numbers. "It can make you obsessive, which is counterproductive to sleep," she said. "I think if you're worried about your sleep, like, for example, if you're snoring and your sleep is not restorative, don't wait for the tracker. We always want to bring it back to what you are experiencing." Khosla says whether devices flag a problem or just keep someone accountable, they can bring a sense of peace, and that technology does appear to be getting more accurate. There is also ongoing research into how new sleep-tracking mattresses will perform.
Yahoo
18-03-2025
- Business
- Yahoo
Using local grain, Dakota Don's Artisan Waffle Mix finds niche in the marketplace
Mar. 17—GRAND FORKS — Don Miller and Deb Glennen have spent the better part of the past four years tempting and tantalizing people with the aroma, taste and texture of a waffle they developed in their home kitchen. Frequent vendors at Pride of Dakota events, the married couple have introduced thousands to the Dakota Don's Artisan Waffle Mix and generated a fan club of loyal aficionados. "People sometimes ask if you can use it for pancakes," Miller said. "You can. But pancakes are just food. Waffles are a party." Miller and Glennen have been convincing customers that Dakota Don's waffle mix produces waffles that are superior to the "cardboard waffles" they've tried in the past, he said. Their business's website distinguishes the product as "truly a unique spin on the classic waffle" and a "gourmet breakfast treat you'll want to shout about!" On Instagram, a loyal customer is seen urging visitors to a past Pride of Dakota Showcase to "Come and get it. Dakota Don's waffles are the best. You'll never find anything this light and fluffy." The original mix is made with flour produced by the North Dakota Mill and Elevator in Grand Forks. It is sent to a co-packer in Red Wing, Minnesota, where it is made into the mix and returned to Grand Forks for shipping. The Grand Forks-based Home of Economy was the first to distribute the product across the state, Miller said. Thanks to the help of a Fargo-based distributing company, the product can be purchased in 45 locations throughout North Dakota — including all of the major communities in the state — and a few places in South Dakota and Minnesota. Miller recalled that, after sampling the waffles at a Pride of Dakota Showcase, a representative of the distributor walked away from the booth and phoned his company, saying, "I think I found a product we should be distributing." Teaming up with Bischof Distributing has led to access to grocery stores the couple may not have attained on their own. "It's not easy getting six inches of shelf space in a grocery store," Miller said. The product has also been sold, in 30-pound packages, to restaurants, including a Waffle House in Sioux Falls and Makers Exchange, which offers artisan coffee and waffles in Tea, S.D. As the business grows slowly and "organically," Miller said, he and Glennen are embarking on the first variation, a gluten-free version. They have taken to heart input from people they meet at events, such as the Pride of Dakota Showcases that are held around the state. The couple have met "a reasonable number of people who say, 'my wife is gluten-free' or 'my son is gluten-free,'" Miller said. So, for the past three or four years, they have been searching for a gluten-free flour that would yield a "premium product," Glennen said. Searching nationwide, they found a "very good flour" that is produced, surprisingly, not far from home, Miller said. Ardent Mills in Harvey, North Dakota, is one of the company's "six to 10 locations." "They sent me five pounds of flour and I tried it," he said. The next step was to find a gluten-free — not gluten-friendly — co-packer to package the mix, he said. And they found one in New York. The new business venture, which has been supported with a $12,000 grant from the North Dakota Department of Agriculture, opens another market for Dakota Don's Artisan Waffle Mix. For 25 to 30 years, Miller has been making waffles for family, friends and students. It wasn't unusual for them to host a sizable number of people in their home for a brunch with waffles as the star. They even host regular Waffle Wednesdays and make waffles for the daycare at their church, Zion United Methodist. The success of their business is founded on the detailed records that Miller kept as he tweaked recipes. He compiled "dozens of notebooks" and conducted an untold number of tests, he said, with input and advice from friends who are scientists. (A retired UND art professor, Miller is a founder of Muddy Waters Clay Center in Grand Forks. Food science was a new post-retirement adventure.) Friends and family members would request — or clamor for — his waffles, Glennen said. That enthusiasm spurred his decision to produce the mix as a business. "He's puttered around for 10 years," she said. In developing the product, "the magic was 'easy gourmet,'" she said. "You don't have to have Don (there) to do it." What Miller enjoys most about the business is the opportunity it presents to "feed people," he said. "It makes people happy. It's fun." For Glennen, there's satisfaction in "giving the money away," she said. "We've been purpose-driven from the start." She and Miller commit a portion of the profits from product sales to support independent-living programs, with a focus on young adults with autism and the housing insecure. The winning elements for the business are based on the fact that the waffles "taste good," Glennen said. "It has honest ingredients — good clean ingredients. No preservatives. No sugar. "When people taste it, they'll buy it."
