The Portland Development Commission chose veteran venture capitalist Jim Huston and Portland business consultant Angela Jackson to manage the new Seed Fund that will provide $500,000 to promising new startups.
Portland entrepreneurial booster Josh Friedman was an unsuccessful candidate.
"I'm obviously disappointed that it wasn't us," said Friedman, who has launched startups himself and now helps run Nedspace, shared office space for entrepreneurs and a popular gathering site for Portland tech events.
Ultimately, Friedman said, he hopes to start his own fund to support the region's startups. For now, though, Friedman said he welcomes the city's fund and doesn't want to get in the way of an initiative he helped launch.
Read more at OregonLive.com.
Or, read more about challenges within the Portland startup scene here.