New Funding Source For South Dakota Companies
Monday, August 13, 2018
PIERRE, S.D. - Entrepreneurs can make a big difference in an area's economy.
There's now another way new companies in South Dakota can get funding.
South Dakota Equity Partners, a public-private partnership supported by the Governor's Office of Economic Development, has raised $16.9 million.
"SDEP had its initial closing at the end of June, which means it is ready to start investing in a variety of projects, primarily in research commercialization and knowledge-based companies," Governor Dennis Daugaard said. "SDEP's long-term goal is to diversify the portfolio across industries and with companies needing equity capital to facilitate their growth capacity as they move through their business life cycle stages."