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FARGO – Wonder Fund North Dakota has selected tech startup LandTrust for its first investment.
Wonder Fund North Dakota is a North Dakota development fund investment program led by “Sharktank” entrepreneur Kevin O’Leary and O’Leary Ventures.
LandTrust is an online land-sharing marketplace that connects landowners with outdoor enthusiasts, generates income for landowners, and connects private lands for recreational experiences.
According to the press release, the investment will drive economic development in rural communities across the state and is expected to create new jobs and new sources of income for North Dakota farmers and ranchers.
Similar to home-sharing sites like Airbnb and VRBO, along with other companies in the sharing economy, Land Trust is a land-sharing site where landowners earn income by hosting a variety of recreational activities on their land, including hunting, fishing, and bird watching. RVing and more. Landowners currently have more than 1 million acres listed on LandTrust which can be searched by state, property name or activity.
This $1.25 million investment from Wonder Fund North Dakota comes with a commitment from the Landtrust to establish a base in Fargo as the company expands in the Midwest.
“With LandTrust’s expansion into the Midwest, we saw the need to establish a headquarters with people who are familiar with regional agriculture, outdoor recreation and land management practices,” LandTrust Founder and CEO Nick De Castro said in a statement. “North Dakota has created such an amazing business environment for startups like LandTrust that it made it an easy decision for us to locate our next corporate office in Fargo.”
The financial impact of the Land Trust’s business operations across North Dakota includes rural economic development, field workers and full-time employees in the Fargo office. Initial direct and indirect financial projections for the Land Trust’s operations in North Dakota for 2023 are $1.2 million – $1.5 million, growing to $20 million – $22 million by 2027.
“This investment will create new jobs and income for North Dakota farmers and ranchers and stimulate the economic development of rural communities across the state,” Commerce Commissioner Josh Teigen said in a statement. “Local businesses in local communities will benefit from tourism and consumer-related activities through the expansion of agritourism operations in North Dakota. This agreement is a prime example of how capital formation can support economic development, tourism development and community development while simultaneously providing our owners with another source of income for their property.”
“Our LandTrust investment is the first in a strong line of investments we will be making in 2023,” said Kevin O’Leary of O’Leary Ventures in a statement. “We believe in Nick and his team and their ability to execute a bold vision while creating jobs in North Dakota and opening up new revenue streams for the state’s landowners.”
Wonder Fund’s North Dakota investment is a $6 million LandTrust Series A round of financing with lead investment by Wilkes Brothers, one of the largest private landowners in the country.
Visit https://landtrust.com/ to learn more.
Untethered will close its Broadway store in preparation for the opening of Brewhalla.
Stage file photo
Unglued, the popular handmade gift shop, has closed its location at 408 Broadway in downtown Fargo to open its new home at Dreker Brewery.
Founder Ashley Morken He opened the store in 2012 with items from North Dakota and Minnesota makers, crafters and artists.
Morken told the forum late last year that the Covid outbreak recently forced her to do some soul-searching about the future of the business. Leaning into what? What to leave?
And then came Draker’s offer. And the decision turned out to be more than the above ideas.
Morken said Unglued will have 2,000 square feet in the brewery. The store will occupy about 1,500 square feet, and the party and craft department will take up 500 square feet on the mezzanine level.
Brewhall at 1666 1st Ave. N. in Fargo. Lai is a major expansion for the Dreker Brewing Company complex. The project will carry a check on an area of 100,000 square meters and a price of 20 million dollars. It features a hotel, apartments, an event center and a shopping mall. Brewhalla houses several other businesses, including Blackbird Woodfire, Nicole’s Fine Cakes & Cafe, Mangata Wine & Raw Bar, Unicorn Park Fine Food and Luna Market. It has been described as a “magic factory” for suppliers.
Visit brewhalla.co to stay updated on the planned opening date.
WDAY photo
Freeze is targeting a March 25 opening date.
Thanks to this week’s snow storm, The Freeze, 410 19th St. S., Morehead, is pushing back its opening to Saturday, March 25.
In the year Built in 1963, the popular summer restaurant does not fare well in heavy snow and freezing temperatures.
The announcement was made to the restaurant’s Facebook page on March 1.
“My favorite post… I have to tell you we are delaying our opening,” read the post. “We will open on Saturday March 25th, weather and other conditions! See you!”
For more updates, follow the “Moorhead Freez” Facebook page.
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