Fund hires for a management position and wants to invest $10 million in local startups in 2016.
BY JACOB PALMER | DIGITAL NEWS EDITOR
Oregon Angel Fund has hired for a management position and wants to invest $10 million in local startups in 2016.
OAF brought on Jon Maroney to help startups that are not yet ready for investment.
“In essence, he will be leading our collaborative pre-investing activities in support of local startups,” said Rosenfeld in an email. “We’re excited to have someone of his caliber and experience join our team and help get interested OAF members more involved in pre-investment stage companies where they can be of assistance.”
(SOURCE: Portland Business Journal)
This year, the fund invested $8 million. It’s hoping that number will increase in 2016.
The bigger target set for 2016 is in part due to the success of the fund’s investments in GlobeSherpa and Elemental Technologies. Both were sold over the summer, delivering high returns to OAF members. The deals boosted the confidence of the team who feel more local capital can be raised to support more local startups.
RELATED NEWS: Portland tech company sold to Amazon; Summer of acquisition; GlobeSherpa sells to RideScout
