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An Alaskan Native Corporation has joined forces with an Anchorage-based investment firm to raise a $250 million private equity fund.

Doyon, Limited will join McKinley Alaska Private Investment LLC in launching the Na’-Nuk Investment Fund 2 in Spring 2023. The fund plans to invest in companies that “aim to power, feed, connect, heal, and protect the planet,” according to a Doyon news release. 

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Doyon has committed a “significant investment commitment” to Na-Nuk Fund 2 and, as a General Partner, will help review and select investment opportunities. 

“Doyon’s mission to continually enhance the economic and social well-being of our shareholders and future shareholders aligns directly with this partnership,” Patrick Duke, Doyon Senior Vice President and Chief Operations Officer, said in a statement. “The investment strategy that Na’-Nuk Fund 2 has, will not only benefit our shareholders but all Alaskans. As the first Native corporation to partner in Na’-Nuk Fund 2, we are honored to lead this new venture for Alaska.”

Incorporated in 1972 as an Alaska Native Corporation, Doyon has more than 20,400 shareholders and more than 12.5 million acres of land, making it the largest landowner in the state. Doyon operates more than a dozen for-profit companies in the energy, construction, tourism, technology and professional services sectors. 

The Na’-Nuk Fund 2 marks McKinley Alaska Private Investment’s second foray into Native investment. In January 2020, the firm launched the first Na’-Nuk Fund, which raised $117 million for investments in transportation, logistics, food systems, energy, and other technologies. Anchored by a $100 million investment from the Alaska Permanent Fund, the Na’-Nuk Fund has invested primarily in venture-stage companies. It had committed approximately $90 million to companies through the end of September 2022, according to a report in the Anchorage Daily News

McKinley CEO/CIO Rob Gilliam said the company was “excited” to launch the new fund with Doyon. 

“This partnership perfectly captures our strategic intention to leverage our Alaska location and expertise for the benefit of our investors, bring needed investment capital to Alaska, and create positive and meaningful connections with Indigenous Alaskans,” Gilliam said in a statement.

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About The Author
Chez Oxendine
Staff Writer
Chez Oxendine (Lumbee-Cheraw) is a staff writer for Tribal Business News. Based in Oklahoma, he focuses on broadband, Indigenous entrepreneurs, and federal policy. His journalism has been featured in Native News Online, Fort Gibson Times, Muskogee Phoenix, Baconian Magazine, and Oklahoma Magazine, among others.
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