Starve Ups aims to provide $3M to startups

Entrepreneurial group wants to give investing a try.

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Entrepreneurial group wants to give investing a try.

Starve Ups wants to raise $3 million to distribute in $10,000-50,000 increments to 18-21 companies over the fund’s three-year lifespan, the Portland Business Journal reports.

“We are trying at this point to provide on additional element that we know startups in Oregon need from Starve Ups,” [Managing Director Dave] Friess said.

Over the 15 years that Starve Ups has existed, its members have occasionally invested in companies on their own. Yet it was never part of the group’s model to take equity in a company or charge fees for its services. The group helps entrepreneurs accelerate their companies through intensive peer mentoring from other successful entrepreneurs.

Starve Ups joins the Portland Seed Fund, Oregon Angel Fund and Rogue Venture Partners as an Oregon-based seed fund.