PERHAM, MINNESOTA – National New Markets Fund, LLC (“NNMF”), an affiliate of Los Angeles-based SDS Capital Group, has invested $17.5 million of its New Markets Tax Credit “(NMTC”) allocation into Chanhassen, MN-based Bongards Creameries (“Bongards”).

Bongards is a farmer-owned co-op that relies on its 267 member farms (98% family farms) to provide milk for its cheese and whey products. As a result of the investment, Bongards’ milk intake capacity will increase by almost 1/3, from 4.1 million pounds per day to 5.4 million pounds per day.

To read the full press release, please click here.

Dudley Ventures / Valley Bank was proud to participate in this project as the NMTC investor.