About
701 Fund is a North Dakota-based angel group founded in 2015 that focuses on early-stage, high-risk venture investments across multiple sectors. Based in Grand Forks with operations serving the broader North Dakota entrepreneurial ecosystem, the fund targets companies in unmanned aerial systems manufacturing, autonomous systems, healthcare, medical devices, biotech, B2B software, and cybersecurity. The group operates a portfolio-based investment model typical of angel syndicates, pooling capital from multiple accredited investors to deploy across early-stage opportunities. As of the most recent reporting period, 701 Fund had completed 15 investments, with two successful exits, two companies that did not succeed, and eleven remaining active in the portfolio. The fund's investment thesis emphasizes supporting the region's growing innovation economy by backing ambitious entrepreneurs tackling meaningful problems in technology and life sciences. Portfolio companies have included Thread, a Grand Forks-based firm that raised $25.3 million with 701 Fund as a lead investor alongside other regional and national partners. Member investors gain access to deal flow, due diligence support, and syndication opportunities with other regional venture participants. The organization positions itself within North Dakota's broader venture capital landscape, complementing state-level initiatives like the North Dakota Growth Fund while focusing on the angel stage where founders benefit from experienced regional investors who understand local market dynamics and maintain ongoing operational support.