New Funding Will Invest in Promising Oregon Technology and Science Startups

Today Business Oregon and its Oregon Innovation Council announced a $4 million award to the Portland Seed Fund that will provide investments in early-stage Oregon businesses through the Intrepid Oregon Fund.

Portland Seed Fund (PSF) was selected to manage Business Oregon’s Commercialization Gap Fund III and the $4 million associated with it. The program is focused on providing capital for entrepreneurs to bring their new technologies and products to market, as there are very few sources of this type of funding for early-stage science and technology companies available in Oregon. PSF will now operate the Commercialization Gap Fund III as the Intrepid Oregon Fund.

The Intrepid Oregon Fund will invest in early-stage companies less than five years old, that predominately do business in technology and science-focused sectors such as digital health, healthcare IT, bioscience, medical devices, climate-tech, advanced manufacturing, advanced materials, and natural resources. The Intrepid Oregon Fund expects to invest in at least 15 Oregon companies, including follow-on investments.

This investment aligns with the strategies in Oregon’s 10-Year Innovation Plan by contributing to the commercialization of new products and providing access to risk capital.

The Portland Seed Fund was established in 2011 and invests in local entrepreneurs capable of scaling high-growth, capital-efficient companies across a variety of industries. PSF also operates an accelerator program to provide technical assistance and a valuable network to support the entrepreneurs receiving investments.