What Development Capital Networks does

Development Capital Networks (DCN) is a privately held Oklahoma City-based economic development firm founded in 1997 by Robert G. Heard that designs, builds, and manages debt and equity capital programs for government clients and operates angel investor networks and technology commercialization platforms. The company's core offering is administration of U.S. Treasury State Small Business Credit Initiative (SSBCI) funds: it manages the Wyoming Smart Capital Network (a coalition of 16 municipalities), the Red River Corridor Fund in North Dakota (a coalition of 36 municipalities, co-managed with Praxis Strategy Group), and a portfolio of seven SSBCI 2.0 funds on behalf of tribal governments (Choctaw, Comanche, Muscogee, Osage, Sault Tribe, Seminole Nation) and American Samoa. Across these programs DCN has deployed $199 million in debt financing to 1,191 companies (creating or retaining 3,921 jobs) and $123 million in equity investments to 37 venture and private equity funds generating over $3.5 billion in economic impact.

DCN operates four interlocking service lines: SSBCI fund management with collateral support and loan participation through community bank partners; angel investor networks including WBTangels, Cowboy Technology Angels, and the UAS Angel Network (over 3,000 angel investors trained through seminars such as Seed Investment as a Team Sport); ecosystem development including the Innovation Finance Reference Guide used as primary curriculum by the Council of Development Finance Agencies; and technology commercialization via the WBT Innovation Marketplace and Open Innovation Forums (500 commercialization plans developed, 800 technologies showcased). The firm also manages the UAS Cluster Initiative of Oklahoma and Kansas and the DronePort Network, and provides executive and financial administration services to industry associations.

Revenue is generated from fund management fees on SSBCI programs, professional services for association management (executive leadership, IT, accounting), program and consulting fees for technology commercialization, and federal contract support (notably from the U.S. Small Business Administration for UAS Cluster Initiative). Pricing is contract-based and not publicly disclosed. Geographic focus is the United States (Oklahoma, Wyoming, North Dakota, Kansas) with prior international activity through the Latin American Venture Capital Association. The team comprises roughly 14 listed professionals including co-managing directors Robert Heard and Sallie Traxler, Managing Director Christina Kappaz, a Controller, IT staff, Development Loan Officers, and a Director of Operations, supported by affiliated firm Cimarron Capital Partners (development lending and equity investing) and nonprofit partner Innovate Inc. (technology transfer).

Name

Development Capital Networks

Legal name

Development Capital Networks, LLC

Website

https://dcnteam.com

Company type

Private

Founded year

1997

Operating status

Operating

Headcount range

11–50 employees

Short description

Development Capital Networks designs, builds, and manages debt and equity capital programs for U.S. government clients and operates angel investor networks and technology commercialization platforms, primarily administering SSBCI-backed funds for tribal governments and rural municipalities.

Ownership category

akta.pro rank

Product category

Economic Development Services

NAICS

All Other Financial Investment Activities (52399), Other Financial Investment Activities (5239), Grantmaking and Giving Services (81321)

SIC

Federal & Federally-Sponsored Credit Agencies (6111), Investment Advice (6282), Finance Services (6199)

akta.pro primary industry

Infrastructure & Project Finance Advisory (BPAHADAO)

akta.pro secondary industries

Private Sector & Blended Finance Arms (IFC-type) (BPADACAJ), Infrastructure Debt Funds (FSANAEAL), Infrastructure & Energy Fundraising Placement (FSAEALAF)

Keywords

• Economic development services
• Small business lending
• Angel investor networks
• Technology commercialization consulting
• Development fund management

Headquarters

HQ city

Oklahoma City

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Fund Management Fees: DCN builds and manages debt and equity funds for government programs (SSBCI) and earns management fees for administering these development funds on behalf of tribal governments, municipalities, and territories.
2. Association Management Services: DCN provides executive leadership, program services, financial administration, and IT services to organizations concerned with economic and entrepreneurial development. Services include accounting, tax prep, audit prep, and full IT services.
3. Technology Commercialization Programs: DCN develops and operates technology accelerators, commercialization programs, and open innovation activities. Revenue derived from program fees and consulting services.
4. Ecosystem Development Services: DCN trains angel investors and entrepreneurs through seminars (Seed Investment as a Team Sport, Swing for the Fences), provides curriculum development (Innovation Finance Reference Guide for CDFA), and builds trade associations.

Go-to-market motion3 records

Distribution channels4 records

Marketing channels6 records

Core offering

Development Capital Networks designs, launches, and manages state, tribal, and municipal development finance funds (notably SSBCI and SSBCI 2.0 programs such as the Wyoming Smart Capital Network and Red River Corridor Fund), operates angel investor networks (WBTangels, UAS Angel Network, Cowboy Technology Angels), runs industry-cluster and ecosystem-development initiatives (UAS Cluster Initiative, DronePort Network), and delivers technology commercialization, open-innovation forums, and association management services to government, banking, and rural/small-business clients.

Product overview

Development Capital Networks (DCN) operates as a specialized economic development firm offering a portfolio of interconnected products and services focused on driving innovation economies. The core offerings include SSBCI Development Funds (debt and equity funds for small businesses), SSBCI 2.0 Funds for tribal governments, and angel investor networks (WBTangels, UAS Angel Network, Cowboy Technology Angels). DCN provides ecosystem development through training seminars and the Innovation Finance Reference Guide, technology commercialization services via the WBT Innovation Marketplace and Open Innovation Forums, and industry initiatives including the UAS Cluster Initiative and DronePort Network. The company also provides association management services for development finance organizations.

Differentiator

Problem solved

Functional benefit

Brands

• Wyoming Smart Capital Network: SSBCI-funded development fund managing debt and equity for Wyoming small businesses, a coalition of 16 municipalities
• Red River Corridor Fund
• WBT Innovation Marketplace
• WBTangels
• UAS Cluster Initiative
• DronePort Network
• UAS Angel Network
• Cowboy Technology Angels
• Open Innovation Forum

Products and services

• SSBCI Development Funds

Quantifiable outcome

• $199 million in debt financing to 1,191 companies creating/retaining 3,921 jobs
• +4 more outcomes

Named customers12 records

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Six partnerships are on record, tiered core.

• Cimarron Capital PartnerscoreStrategic or Co-development PartnerAffiliated firm with over 30 years of experience in development lending and equity investing. Designs and manages VC/PE accounts for clients including Iowa Fund of Funds, Arkansas Institutional Fund, Oklahoma Capital Investment Board. Collaborates with DCN on venture capital and private equity fund design, implementation, and management.
• Innovate Inc.coreStrategic or Co-development PartnerNonprofit 501(c)(3) organization that supports research activities at federal labs, universities and innovation centers; provides training in technology transfer and commercialization; targets growth of job-creating enterprises. DCN sponsors and collaborates with Innovate Inc. to complement technology commercialization services.
• Praxis Strategy GroupcoreStrategic or Co-development PartnerCo-manager with DCN of the Red River Corridor Fund (RRCF) in North Dakota. RRCF is a coalition of 36 North Dakota municipalities providing capital resources to small businesses.
• Council of Development Finance Agencies (CDFA)coreStrategic or Co-development PartnerDCN provided executive management for CDFA from 2001-2017, growing membership from 80 to over 500 and producing hundreds of conferences, seminars and workshops. DCN's Innovation Finance Reference Guide serves as the primary curriculum for CDFA's seed and venture capital finance course.
• National Association of Seed and Venture Funds (NASVF)coreStrategic or Co-development PartnerDCN founded NASVF in 1997 and managed it through 2009, growing membership from zero to over 250, delivering over 100 field seminars on seed investing.
• Latin American Venture Capital Association (LAVCA)coreStrategic or Co-development PartnerDCN formed LAVCA in 2002 at request of Inter-American Development Bank and provided full executive staff through 2010, growing membership from zero to over 100.

Scale indicators12 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Cimarron Capital Partners: Affiliated firm with 30+ years of experience in development lending and equity investing, designing and managing VC/PE fund of funds for Iowa, Arkansas, and Oklahoma. Collaborates with DCN on fund design and management, operating as a closely linked peer in the same development finance ecosystem.
• Praxis Strategy Group: Co-manager with DCN of the Red River Corridor Fund in North Dakota. A regional economic development consultancy operating in the same municipal coalition and SSBCI fund management space as DCN.
• Innovate Inc. Nonprofit 501(c)(3) that supports technology transfer from federal labs, universities, and innovation centers. DCN collaborates with Innovate Inc. on technology commercialization services, making it a closely adjacent peer in the tech transfer ecosystem.
• Angel Capital Association: Leading professional society for angel investors in the U.S., providing education, networking, and best practices for angel groups. Highly comparable to DCN's WBTangels, UAS Angel Network, and Cowboy Technology Angels operations.
• National Association of Seed and Venture Funds (NASVF): Trade association for seed and venture capital funds. Originally founded and managed by DCN (1997-2009), now operates independently as a peer association serving similar early-stage fund manager and angel investor constituencies.

Broad incumbents

• Council of Development Finance Agencies (CDFA): National association of development finance agencies and professionals. Previously managed by DCN (2001-2017), now operates independently with its own staff and serves as a broader industry incumbent in the same development finance category.
• Opportunity Finance Network: National network of Community Development Financial Institutions (CDFIs) serving underserved communities with capital access programs. Operates in an adjacent segment of the development finance ecosystem with similar mission and customer base.
• Community Development Venture Capital Alliance (CDVCA): Industry alliance for venture capital funds that invest in businesses in distressed and underserved communities. Highly comparable mission to DCN's rural and tribal development finance operations, though focused more on equity VC than debt funds.
• State Science & Technology Institute (SSTI): National nonprofit organization serving state and territorial economic development agencies, with focus on technology-based economic development. Comparable to DCN's technology commercialization and innovation ecosystem work, particularly the WBT Innovation Marketplace.

Emerging players

• Build.org: National nonprofit supporting entrepreneurship in under-resourced communities through training and capital access programs. Operates in a comparable segment of the small business development ecosystem, though focused more on training and accelerator models than fund management.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/development-capital-networks-llc

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Development Capital Networks