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Formerly | Oregon Angel Fund |
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Company type | Private Ownership |
Industry | Venture capital |
Founded | 2007 |
Founders |
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Headquarters | Portland, Oregon, U.S. |
Products | Venture capital |
Total assets | $185 million |
Number of employees | 8 |
Website | oregonventurefund |
Oregon Venture Fund makes venture investments in the Portland, Oregon area and throughout Oregon and SW Washington. The fund consists of 180 institutional and [1] angel investors, of whom 85% have run or founded a business. The fund evaluates up to 300 business plans per year, selecting five to seven to invest in annually. [2] In 2018, the fund changed its name from Oregon Angel Fund to Oregon Venture Fund and launched a new $30M fund. [3] Since its inception, Oregon Venture Fund has generated an average annual rate of return of 34% and a return on investment exceeding $3.50 for each dollar invested. [4]
About 70 percent of the fund's investments are in technology. 20 percent are medical devices, health care IT, and related fields. And 10 percent are in other areas such as transportation, advanced materials, and consumer. [5] 31% of portfolio companies were founded by, or are headed by, a woman and 23% by a person of color. Some 70 companies in Oregon Venture Fund's portfolio include Absci, Jama, [6] Elemental Technologies, [7] Brandlive, [8] Salt & Straw, [9] and Wildfang. [10]
The Oregon Venture Fund also receives investment from The Oregon Community Foundation, [11] Meyer Memorial Trust, the State of Oregon, and regional colleges and universities, such as University of Oregon, Willamette University, Portland State University, and Lewis & Clark College. [12]
Oregon Venture Fund notable investments and exits include:
Co-founded by Robert Ward and Eric Rosenfeld, [55] the fund is now managed by Eric Rosenfeld, Alline Akintore, Deepthi Madhava, Melissa Freeman, Jon Maroney, Matt Compton, Lynn Fletcher, and Mary Geyer. [56]
Silicon Forest is a nickname for the Washington County cluster of high-tech companies located in the Portland metropolitan area in the U.S. state of Oregon, and most frequently refers to the industrial corridor between Beaverton and Hillsboro in northwest Oregon.
Lattice Semiconductor Corporation is an American semiconductor company specializing in the design and manufacturing of low power field-programmable gate arrays (FPGAs). Headquartered in the Silicon Forest area of Hillsboro, Oregon, the company also has operations in San Jose, Calif., Shanghai, Manila, Penang, and Singapore. Lattice Semiconductor has more than 1000 employees and an annual revenue of more than $660 million as of 2022. The company was founded in 1983 and went public in 1989. It is traded on the Nasdaq stock exchange under the symbol LSCC.
Elemental was an American software company based in Portland, Oregon, and active from 2006 to 2015. It was founded by three engineers formerly of the semiconductor company Pixel works: Sam Blackman (CEO), Jesse Rosenzweig (CTO), and Brian Lewis. In 2015, it was acquired by Amazon.
Cvent Holding Corp. is a Tysons Corner, Virginia-based company that provides software-as-a-service (SaaS) solutions for meetings, events, and hospitality management. Their web-based platform caters to in-person, virtual, and hybrid events, offering functionalities like online registration, venue selection, event management tools, and attendee engagement features. Cvent also provides software for hotels and venues to manage group bookings, including corporate travel, and source new group business. Previously a public company, Cvent was acquired by investment firm Blackstone Inc. for $4.6 billion in June 2023.
Cascade Microtech is a semiconductor test equipment manufacturer based in Beaverton in the Portland metropolitan area of the United States. Founded in 1983, the Oregon-based company employs nearly 400 people. Formerly publicly traded company as CSCD on the NASDAQ, the company is now fully merged with FormFactor, Inc.
New Relic is a US-based web tracking and analytics company. The company's cloud-based software allows websites and mobile apps to track user interactions and service operators' software and hardware performance.
Airship is a US-based company that offers marketing and branding services to its clients. Its services enable businesses to create personalized messages that can be delivered to customers through various channels, such as push notifications and SMS messaging. In addition to messaging services, Airship provides its clients with customer analytics services to help them better understand their customers' behavior and preferences.
Simple was an American neobank based in Portland, Oregon. It was recognized as the first neobank and operated between 2009 and 2021.
Act-On Software is a software-as-a-service product for marketing automation. The company is headquartered in Portland, Oregon and was founded in 2008, originally retailing its software exclusively through Cisco, which provided $2 million in funding.
The Portland Incubator Experiment, often abbreviated as PIE or PIE PDX or stylized as Pie, is a business incubator based in Portland, Oregon that provides mentorship and resources to select startup companies. Co-founded by Renny Gleeson and Rick Turoczy, PIE is run by the Portland-based advertising agency Wieden+Kennedy (W+K). The program was informally launched in 2009 before converting to a formal structure in 2011. PIE participants are chosen by a selection committee, following an application process. Startups receive seed money and spend three months developing their businesses with support from W+K and participating mentors. Companies that have provided financial assistance and mentorship include The Coca-Cola Company, Google, Intel, Nike, Inc. and Target Corporation.
Brandlive is a Software as a service (SaaS) company based in Portland, Oregon, USA.
Sol Republic, Inc. was an American privately held audio manufacturer based in Michigan. Founded in 2011 by Scott Hix, Seth Combs, and Kevin Lee, it was sold to HoMedics in late 2015 or early 2016.
Vacasa is an international vacation rental management company based in Portland, Oregon. It provides property management services for over 35,000 vacation rentals in North America, Belize, and Costa Rica. Vacasa manages properties in 34 U.S. states.
Qorvo is an American multinational company specializing in products for wireless, wired, and power markets. The company was created by the merger of TriQuint Semiconductor and RF Micro Devices, which was announced in 2014 and completed on January 1, 2015. It trades on Nasdaq under the ticker symbol QRVO. The headquarters for the company originally were in both Hillsboro, Oregon, and Greensboro, North Carolina, but in mid-2016 the company began referring to its North Carolina site as its exclusive headquarters.
OpenSesame Inc. is a Portland based educational technology company that provides an online marketplace for buying and selling SCORM elearning courses focused primarily on employee training. Its online training platform, directly connects content providers with employees and businesses for online training resources and specially designed courses for professionals, which can be accessed through a Learning management system. The company was founded in 2011 and is headquartered in Portland, Oregon. As of January 2024, OpenSesame tracks around 30,000 courses from more than 200 publishers.
Responsive is a privately owned developer of cloud-based software that automates and streamlines the process of responding to a request for proposal (RFP) based in Beaverton, Oregon. The company also maintains an office in Coimbatore, India. Founded in 2015, the company has expanded rapidly and now has more than 150,000 users worldwide after tripling its user base in 2019 and sustaining growth during the global pandemic. RFPIO software has supported more than $20 billion in RFP responses.
Elevate Capital (Elevate Capital LLC) is a privately owned venture capital firm based in Portland, Oregon, that focuses on early-stage investments in startup companies and particularly those companies led by women, minorities, and veterans. The firm manages the Elevate Capital Fund that invests in early-stage companies and the Elevate Inclusion Fund that invests in startups run by women and minority entrepreneurs.
inDinero is an accounting software and services company providing accounting and financial software. Founded in 2009 by Jess Mah, Andy Su, and Andrea Barrica, inDinero graduated the startup incubator, Y Combinator in 2010. On May 8, 2018, inDinero acquired San Jose-based firm tempCFO. On February 1, 2019, inDinero acquired a second company, mAccounting, an Indianapolis-based accounting and tax firm.
Pacifica Beauty is an American cosmetics company based in Carpinteria, California. It was founded in 1996 by Brook Harvey-Taylor and Billy Taylor in Portland, Oregon.
Portland Women in Technology was a 501(c)(3) nonprofit organization based in Portland, Oregon with the mission of advancing inclusion in the technology industry. They hosted four to six events per month, which ranged from member-driven events to monthly happy hours. In 2021, all formerly in-person PDXWIT events became virtual due to the COVID-19 pandemic. The organization is to be dissolved in April 2024 due to lack of funding.
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