The $2 million+ Fund will invest in 25 most promising start-ups over two years
Portland, Oregon—July 19, 2011 — Portland Seed Fund today announced eight companies selected to receive $25,000 initial investment each for its inaugural investment portfolio. The companies were selected from 128 applications, in the culmination of a unique public-private partnership led by fund managers Jim Huston and Angela Jackson.
The inaugural class of companies is heavy in software and mobile development, with a mix of consumer-facing and business-facing offerings. Founding teams range from seasoned, serial entrepreneurs to first-time CEOs.
Inaugural class of the Portland Seed Fund.
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Geoloqi isa mobile app and web platform that makes it easy for companies to build powerful location-based applicationsWeb: geoloqi.com / Twitter: @geoloqi
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Zinofile is a Portland-based online media company that leverages deep experience and opportunity in the comics space
“We are honored to be part of the first class to receive funding and mentoring from the Portland Seed Fund. PSF represents a great step forward in providing the mentorship and connections that companies need,” said Amber Case, CEO of Geoloqi. “Portland Seed Fund and TiE Oregon made it possible to stay here and build a strong business in Portland, Oregon instead of moving to Silicon Valley.”
About The Portland Seed Fund
Portland Seed Fund (PSF) stimulates exceptional entrepreneurial growth in the Portland metro area and throughout Oregon. Bridge City Ventures Managing Directors Jim Huston and Angela Jackson oversee PSF. Managers will invest in ~25 companies over two years, implementing a proprietary, milestone-based system of capital + coaching with initial investments of $25,000 per company, and follow-on investments available to highest performers. PSF invests in capital-efficient, highly-scalable businesses across a variety of industry sectors with a strong emphasis on software and mobile. High growth potential in Oregon is required.
Investors in the $2-$3 million Portland Seed Fund include City of Portland, Oregon Growth Account, City of Hillsboro / OEN Catalyst Fund and individual accredited investors. Key community sponsors that make Portland Seed Fund possible include White & Lee LLP, Perkins & Co., and Bank of the Cascades.