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North Dakota’s $45M Wonder Fund faces scrutiny after a funded startup, Thread, fell behind on rent and may lose its lease.
North Dakota’s $45 million Wonder Fund, launched under former Gov.
Doug Burgum and managed by Kevin O’Leary, is under scrutiny after Thread, a Grand Forks tech startup, fell $4,000 behind on rent and faces lease termination.
Thread received $2.5 million from the fund plus additional federal and state funding, but its website is inactive and operations are unclear.
The setback adds to concerns over the fund’s oversight, following prior allegations of misrepresentation by another recipient.
Critics cite lack of transparency and program complexity, raising questions about the effectiveness of public investments aimed at boosting the state’s economy.
El Wonder Fund de 45 millones de dólares de Dakota del Norte se enfrenta a un escrutinio después de que una startup financiada, Thread, se atrasó en el alquiler y podría perder su contrato.