It’s funny. These days, folks seem to look forward to holidays and breaks so that they can do more work. Focused work. Without interruption. And like it or not, I’ve got something awesome like that for your winter break task list. The Portland Seed Fund has successfully closed their second fund. And as such, they’ve opened applications for their next class.
Not familiar with the Portland Seed Fund?
Portland Seed Fund is an early stage fund and startup accelerator, investing in companies with high growth potential in SW Washington and Oregon. We generally invest at least $25,000 initially each to 8-10 companies per “class”, with two classes occurring each year. As part of the initial investment, companies also participate in an intensive 90 day mentorship cycle where they get challenged on their businesses as well as hone their investor pitches. The program culminates into an Investor Demo Day in Portland, as well as trips to Seattle and Silicon Valley to pitch to VC and angel groups. Once the program is over, we manage and monitor our portfolio and have the capacity to do follow-on investments in our top performing companies.
And this new fund will give them the ability to make their initial investments—while giving them a significant chunk of change to make follow-on investments in portfolio companies.
The Seed Fund raised $3 million in its previous round. Though it has more capital this time around, Jackson and fellow Managing Director Jim Huston don’t expect to make significantly more investments out of this fund. Instead, they expect to make more capital available for follow-on investing.
“We saw the importance of going in bigger with mature winners as the portfolio progresses,” Jackson said.
Applications for the next class are due January 31, 2014. So don’t dilly dally. Whatever that means. Class begins in March 2014 with a Demo Day following in June.
For more information, visit Portland Seed Fund.