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By Rob Hansen
Looking for a way to get involved, gain real-world experience, and be a part of something that is unique to the university and the nation? Your answer just might be the Dakota Venture Group run by students at the University of North Dakota.
Nathan Carpenter, Managing Director of Finance, and Preston Page, Director, took advantage of this experience and are now, along with three other managing directors and 16 managing associates, part of one of the most successful student-run venture groups in the nation. Along with their values of education, entrepreneurial growth, and economic development, they are able to give students an opportunity that the classroom does not: hands on, real world experience. “You can see the same things from both sides of the table now; it is really like putting all of the tools in your tool belt” Page said. “You really learn how to work with other students and businesses and practice being professional.”
The Dakota Venture Group’s capital investment fund, the first ever capital investment fund in the United States run completely by students, gives these students an unprecedented opportunity to learn in the field of venture capital and angel investing. “It really is learning on your own and getting real world examples,” notes Page. “You are essentially the top management and running your own organization.”
DVG currently manages a non-profit “Evergreen Fund” which is fueled by its benefactors. They also just completed a deal with Rain Source Capital, an angel investing group from St. Paul, Minn., to partner in managing their for-profit “Harvest Fund.” This fund will allow investors to see a return from their venture rather than circulating money through the fund, such as the “Evergreen Fund”. Page says that DVG is all about gaining that new experience and trying to better themselves as individuals and also as a group. “We just want to make this experience better and better, “he says, “We are all learning the process together about starting this new fund.”
DVG is currently working with seven companies, and students are excited about the growth they are seeing from year to year. They invest in private equity companies and enjoy seeing students get involved in the process. “We give a lot of preference to students if they are interested in starting their own venture,” notes Page. He mentioned JD Allen consulting as an example of students who came to the group with an idea with whom DVG was able to invest and partner.
Carpenter and Page have been involved with DVG since October of 2007 and encourage students to become members. It is open to all students and majors.
If you would like more information about the Dakota Venture Group visit their website at www.dakotaventuregroup.com.
Photo (from left to right): Michael Carlson, Satchall Schettler, Dan Horak, Preston Page, Nathan Carpenter
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