(Photo above: (L-R) Kent Schnepp, Julia Rudisill, Jon Vlasak, Eric Freed, Rachel Beck of Odysys | courtesy of Odysys)
Investments in Winning Growth Stage Companies, Odysys and Perfect Company, officially close.
Economic Development for Central Oregon (EDCO) announced that the total awards in 2015 Bend Venture Conference companies has hit $947,500, up from $620,000, which was awarded in mid-October at the end of the conference. Investments in two of the winning Growth Stage companies, Odysys and Perfect Company, have officially closed at $225,000 and $125,000, respectively.
While impressive the total awards for 2015 was less than the $1,063,300 in 2014. With roughly $2 million invested in the competing companies over the last two years, the Bend Venture Conference has moved into a new league and it’s showing in the quality of the applicants,” said Jason Moyer, Fund Manager for the 2015 BVC LLC. “All five Growth Stage finalists were investable, and all five received funding.”
“We managed to set a record for investments made through the BVC LLC this year, with $350K being invested, after expenses,” said Brian Vierra, Venture Catalyst for EDCO. “This was particularly noteworthy given that Cascade Angels, which invested through the LLC last year, made their investment directly in a company this year, and it was not represented by the LLC.”
Here is the breakdown of the $947,500 tally:
Investments
- BVC LLC (OCF, OGA, MMT, individual units) – Perfect Company and Odysys: $372,500
- Cascade Angels – Scratch-it: $125,000
- Seven Peaks Ventures – Scratch-it: $100,000
- Credo Investments – Scratch-it: $50,000
- Side Deals – Honeycomb, Nemametrix, Scratch-it, Perfect Company: $215,000
Grants
- BendBroadband Business Early Stage Cash Prize – SnoPlanks: $15,000
- Bend Outdoor Worx – Robert Axle Project: $10,000
Other Awards/In Kind
- Mandala Firestarter Marketing Program Award – Perfect Company: $50,000
- McDonald Group HR Services Package – Odysys:$10,000
www.bendvc.edcoinfo.com
www.edcoinfo.com
