While raising capital is never easy, it’s a lot more difficult when you don’t have any local resources on which to lean. That’s what a couple of Eugene entrepreneurs are hoping to fix with the Coast to Crest Fund, a new $3 million seed fund focused on Lane County startups.
Early-stage Lane County companies have traditionally relied on investment by private individuals in order to support their growth. Coast to Crest’s management team believes the Lane County startup ecosystem has reached a point where it is now ready for a conventional investment fund. As a visible investor in the startup community, Coast to Crest serves as a source of support and capital for entrepreneurs that aspire to start and grow businesses in Lane County.
Check sizes will range from $25,000 to $200,000.
Like many local investment pursuits, it is the hope that this regional “first money in” will make it easier for Lane County startups to attract additional funding from other investors outside of the region—and potentially outside of Oregon.
According to the Register-Guard, the fund’s founders believe it’s an idea whose time has come.
[Cofounder Joe] Maruschak said the entrepreneurial landscape in Lane County is evolving and conditions are right for the establishment of such a fund. One major issue that has plagued local entrepreneurs is their geographic distance from traditional investment centers.
The C2 Fund will allow the type of intimate access to investors that helps entrepreneurs and investors make prudent and profitable decisions, Maruschak said.
For more information, visit Coast to Crest Fund.
