It’s difficult to get away from the downturn news, but I’m always happy to see folks quantifying the actual impact. And to hear from folks who are optimistic about the local startup community. Malia Spencer gives us both in her recent writeup on venture capital in Portland, this year.
So where’s the “optimistic” part…?
Oregon Venture Fund, which invests between $15 million and $20 million a year, is on track for a record year, said founder Eric Rosenfeld. The group typically counts 250 startups a year from Oregon and Southwest Washington and this year expects 300. It invests in just a handful of the startups it sees.
“We have seen (bigger) VCs focus on their portfolio companies versus new investment,” said Rosenfeld. “And the bulk of venture capital funds (coming to Portland) are from out of state, so if they are supporting their existing portfolio we see less funding.”
For more, read “Venture investing in Portland plunges in Q3.”