PSF announces its investment pool has grown to $10 million.
BY JACOB PALMER | DIGITAL NEWS EDITOR
The Portland Seed Fund unveiled its newest class while announcing its investment pool has grown to $10 million.
The startups that made the cut:
- ActionSprout — Portland: Aids non-profits with social media tools.
- Amplion — Bend: Builds business intelligence software for pharmaceutical and diagnostic companies.
- Bigleaf — Portland: Business cloud computing services.
- Crowd Supply — Portland: Helps crowdfunded companies develop their products.
- CrowdStreet — Portland/Bend: Commercial real estate crowdfunding.
- DesignMedix — Portland: Develops drugs to fight medication-resistant diseases.
- Elli — Portland: Online marketplace for wedding planning.
- Lumen Learning — Portland: Looks to supplant textbook industry with open-source education materials.
- Poached Jobs — Portland: Hiring platform for restaurateurs.
- Scratch-it — Portland: Builds engagement tools for email marketing.
Portland Business Journal writes:
While the seed fund adjusted the curriculum to fit the more mature companies, they all still participated in the education component of PSF. Next week, the companies will have a Demo Day for accredited investors and later this month will make a trip to the Bay Area for more pitching.
“Several of the companies raised significant capital even within the three-month bootcamp period,” said PSF Managing Director Jim Huston in a written statement. “Others are positioning themselves now for later VC rounds, so the trip (to Silicon Valley) will be particularly valuable.”
OregonLive.com reports on the fund growing to $10 million:
Initial funding from the city of Portland and the lottery-funded Oregon Growth Account has been supplemented by a growing pool of private investments. The fund says it now has $10 million under management and has backed 56 companies.
It typically invests $25,000 initially, with more capital for companies that show the most promise.
