From Bakken Midstream press release:
Bakken Midstream, a developer of value-added natural gas infrastructure in North Dakota, announced today the closing of its Series A funding.
The first-round funding led by the Family Office of Founder and Chairman, Steven E. Lebow was oversubscribed. Previously, Lebow co-led Donaldson, Lufkin & Jenrette’s Los Angeles office and ran GRP Partners, a venture capital firm.
He was a primary financier for companies including Costco Wholesale, PetSmart, Dick’s Sporting Goods and ULTA Beauty.
Lebow has been studying the North Dakota natural gas market for several years along with representatives of the State and industry and believes the timing is right to build a major infrastructure company in North Dakota.
Other investors in the round include Richard A. Galanti, longtime CFO of Costco Wholesale, Charles J. Philippin, former longtime Chairman of ULTA Beauty, George P. Orban, Co-Founder and Lead Director of Ross Stores, Inc., and Herald L. Ritch, Founder of DC Advisory.
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