The Oregon Community Foundation recently decided to invest $1 million in the 2012 Oregon Angel Fund, LLC. OCF’s investment stems from the Foundation’s commitment to use a small portion of the endowment to invest in Oregon-based venture capital funds that increase jobs in Oregon.
“Participation in the Oregon Angel Fund is both a strategic financial investment for OCF and a promising way to strengthen Oregon’s economy. OAF has a great reputation for building entrepreneurial expertise, leveraging resources and talent for Oregon startups, and developing angel investors,” said OCF board member Kirby Dyess.
Started in 2007, the Oregon Angel Fund works with more than 90 local angel investors to select the top five most promising early stage growth companies throughout Oregon and southwest Washington each year. To date, the Oregon Angel Fund has funded 21 startups in Oregon and one in Vancouver, Washington. Companies such as Elemental Technologies, Clear Catheter and Chinook Book have benefitted from the fund and the technical expertise provided by Oregon’s angel investors. The state government’s Oregon Growth Account is also an investor in the Oregon Angel Fund.
“OCF’s trust and confidence in this unique partnership of local business and technology leaders and the state is a powerful statement of support for our efforts to identify, fund, and support the most promising startups in Oregon,” says Eric Rosenfeld, co-founder of the Oregon Angel Fund.
About the Oregon Community Foundation
The mission of The Oregon Community Foundation is to improve life in Oregon and promote effective philanthropy. OCF works with individuals, families, businesses and organizations to create charitable funds to support the community causes they care about. Through these funds OCF awarded more than $80 million last year in grants and scholarships. Visit www.oregoncf.org.
About the Oregon Angel Fund
Founded in 2007 in partnership with the Oregon Entrepreneurs Network, the Oregon Angel Fund is a highly structured, professionally managed, investor-driven venture fund backed by the leaders of Oregon’s business and technology community. For more information, visit www.OregonAngelFund.com.