Apparently, it just takes a little while for an idea to gain traction. After years of founders bemoaning a lack of early stage funding, a new crop of early stage venture funds are taking shape here in Portland. First, 1859 Ventures launched a new early stage venture fund. Now Cowen Partners Venture Fund has launched.
According to the Portland Business Journal:
The fund allows Cole and Wendt to formalize their angel investing and perhaps align with local organizations such as Oregon Entrepreneurs Network. The two expect working with groups like OEN will help with deal flow.
While the firm isn’t releasing details on fund size, it will write seed investment checks between $5,000 and $25,000. The fund will target niche markets, community-based businesses and minority entrepreneurs, according to the founders. The two plan to keep the fund small consisting of their own capital and don’t plan to seek outside limited partners.
The smaller check size and attention to startups outside technology is a differentiator for the fund, although Tole [sic] and Wendt won’t rule out a tech investment.
For more, visit Cowen Partners.