It’s not odd that venture funds go quiet from time to time. As they need to cycle through their own fundraising and whatnot. But it’s always nice to see them starting to make noise again. And Portland Seed Fund is doing that in multiple ways with their news today.
New people: Shashi Jain joins PSF as a venture partner
Well known startup community member Shashi Jain is now joining the VC ranks as the newest venture partners at Portland Seed Fund. If Shashi’s name isn’t familiar to you, here’s a little more context:
Jain is a seasoned start-up ecosystem partner and has served as Senior Strategic Innovation Manager at Intel Corporation. He is known for pathfinding new applications in internet of things, healthcare and AI, with a track record of incubating ideas that scale. Jain is a veteran organizer of and mentor to the startup ecosystem, through Startup Weekends, the Portland 3D Printing Lab community, and TYE Oregon workshops teaching innovation and entrepreneurship to high school students. He 3D prints prosthetic hands for kids via the eNABLE community and co-Founded Makerforce, a non-profit that brings together Makers and Manufacturers to respond to emergencies like the COVID19 pandemic.
But if you haven’t been tracking on PSF, there may be another new face for you at the fund, as well: Steve Eichenlaub. (Angela Jackson started PSF with Jim Huston in 2010. Jenn Lynch joined to help manage the funds, which have invested in more than 200 startups, to date.) Steve, who started out as an investor in PSF, joined the management team in 2022.
New fund: Intrepid Oregon Fund
The Intrepid Oregon Fund (IOF) is anchored by a $4 million initial investment by Business Oregon through its Commercialization Gap Fund program. IOF will invest in early-stage companies less than five years old, in sectors that are primarily technology and science-focused such as digital health, healthcare IT, bioscience, medical devices, climate-tech, advanced manufacturing, advanced materials, and natural resources. IOF expects to invest in at least 15 Oregon companies, with substantial reserved investment capital to support follow-on investments in those companies that meet or exceed expectations.
“It’s a great honor for PSF to be selected to seed the next generation of Oregon companies in deeper science and technology sectors,” said Angela. “We will bring our wisdom and experience from serially investing early in these sectors to IOF.”
New investments: Bold Reuse, Solid Carbon, and Trace
I told you about the Trace investment already. The Portland Business Journal told you about the investment in Bold Reuse. And Portland Seed Fund also announced an investment in local company Solid Carbon.
SOLID CARBON provides concrete admixtures and ingredients for durable carbon sequestration in the built environment. We believe the capture and storage of carbon is an essential pathway towards reducing the Global Warming Potential of concrete and transforming this strong and resilient material from a leading source of carbon emissions into a climate solution. Our approach to sustainability goes beyond doing less harm, we find restorative solutions to the planet’s biggest problem: climate change.
To read more on these announcements, see the coverage in GeekWire and the Portland Business Journal. For more information on the fund, visit Portland Seed Fund.
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