Oregon Angel Fund closes $3 million fund—and dishes out portions to three startups

Talk to practically any Oregon entrepreneur about angel investors and venture capital and you’ll get a luke warm reception—at best. But is that response simply perception and assumption or is it reality? I ask because the Oregon Angel Fund just gave us three million little reasons for taking another look at the Oregon angel scene.

You see, Xconomy is reporting that the Oregon Angel Fund has closed a $3 million fund.

Angel capital just might be alive and well—at least in Oregon. [W]e’ve learned that the Oregon Angel Fund has closed a new $3 million fund this summer, made up of 60 individual investors who each contributed $25,000, plus $1.5 million from the Oregon Growth Account, a state-run fund dedicated to Oregon startups and supported by proceeds from the state lottery.

According to Xconomy, the fund has already invested in three companies: ClearAccess, Giftango, and Wicked Quick.

Not familiar with the Oregon Angel Fund? It was founded in 2007 by the Oregon Entrepreneurs Network and Capybara Ventures, with the hopes of providing funding for early stage startups in Oregon and southwest Washington.

The Oregon Angel Fund (OAF) is a highly structured, professionally managed, investor-driven angel fund. The fund provides accredited investors privileged access to the most promising startups and early-stage growth companies in Oregon and SW Washington. Investors in OAF are members of either the Portland Angel Network (PAN) or the Womens Investment Network (WIN), both run by OEN.

For more information or to apply, see the Oregon Angel Fund.

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Published by Rick Turoczy

More than mildly obsessed with the Portland startup community. Founder and editor at Silicon Florist. Cofounder and general manager at PIE. Follow me on Twitter: @turoczy View all posts by Rick Turoczy