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North Dakota’s $45M Wonder Fund faces scrutiny after a startup it backed fell behind on rent and may lose its lease.
North Dakota’s $45 million Wonder Fund, managed by Kevin O’Leary, faces scrutiny after Grand Forks startup Thread fell $4,000 behind on rent and risks lease termination.
Thread received $2.5 million from the fund, plus $1.7 million from other state and federal sources, but its website is inactive and operations unclear.
Concerns follow similar issues with HerdDogg.
Critics cite poor transparency and oversight, with State Auditor Josh Gallion noting confusion over overlapping economic programs, raising questions about the fund’s effectiveness in supporting the state’s economic diversification.
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El Wonder Fund de 45 millones de dólares de Dakota del Norte se enfrenta a un escrutinio después de que una startup que respaldó se retrasó en el alquiler y podría perder su contrato.