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Arthur Ventures looks to provide capital lift to local innovation

May 9, 2011 by

As the chairman and CEO of Great Plains Software, Doug Burgum helped transform the company from a small software shop in Fargo, N.D. in the early 80s into a booming business that Microsoft bought for $1.1 billion in 2001. But what ended with a billion-dollar exit started as an idea that Burgum had to bet the farm — literally — to fund. "He had inherited some ground, inherited some land," said James Burgum, Doug Burgum’s nephew and one of his partners in Arthur Ventures, a venture capital firm they founded in 2008. "He mortgaged that land to invest in a software company." That wasn’t all. It took other creative funding to get Great Plains off the ground. …   read more

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