North Dakota fund buys out $1.25M Wonder Fund investment that conflicted with fed rules

North Dakota’s first investment through the new Wonder Fund hasn’t gone quite as planned. The $1.25 million deal with outdoor access startup LandTrust ran afoul of federal rules and had to be quietly bought out by another state fund to avoid penalties. Though LandTrust once promised a Fargo headquarters, it’s now down to a single remote employee and a “virtual mailbox.” Officials insist the company is improving, but the episode raises early questions about oversight and transparency in the state’s venture funding experiment. Grant Coursey with Bismarck Tribune has the full story.