Press ReleasesPress Release – Angel Food Fund Taps Investor Excitement for Food & Beverage Startups
Oregon’s first food & beverage early-stage investment fund passes $90,000 and is still growing with widespread support from economic development funding and individual investors
April 15, 2019 — Portland, OR — The Oregon Entrepreneurs Network (OEN) announced today that its new Angel Food Investment Fund, which will invest in the top startup or startups at the Angel Food Conference on June 19, has already raised $90,000, seeded with a $25,000 investment from the state’s economic development department, Business Oregon, via its Oregon Growth Fund, in addition to a number of individual investors.
Angel Food is the newest iteration of OEN’s Angel Oregon program, which launched in 2005 as the first fund to invest in early-stage companies in Oregon and catalyzed many other funds, including the Oregon Venture Fund, Bend Venture Conference, and others. To date, OEN’s Angel Oregon LLCs have invested $3.7 million directly into 21 startups in Oregon and Southwest Washington.
The Angel Food Conference and Education Series represents the first time that Angel Oregon has focused on a particular sector: food and beverage companies. In addition to the Conference and Food Fair on June 19 at The Redd building in Portland’s inner eastside, companies participating in the program will go through a robust program of education and coaching sessions.
“By limiting participation to only food and beverage companies, OEN is able to integrate significant educational support and mentoring throughout the process — something we were unable to do with multiple sectors competing in past Angel Oregon programs,” said Maggie Finnerty, Executive Director and president of OEN. “The great news is that our investor base is maturing and investors have preferences. We’re seeing tremendous investor interest in this first-ever angel investor fund dedicated to food and beverage companies.”
“The food and beverage sector is such a big part of Oregon’s culture and an important jobs creator for our economy,” said Nate Wildfire, Capital Strategist for Business Oregon. “The new Angel Food Conference is a great fit for Business Oregon and the Oregon Growth Fund to offer targeted support for entrepreneurs now, and create the industry leaders of tomorrow.”
In addition to contributing to the Angel Food Investment Fund, Business Oregon also has loans available to support food and beverage entrepreneurs.
“In recent years, OEN has invested in developing program expertise in the food and beverage sector which puts them in a great position to connect early-stage investors with the best and brightest food and beverage entrepreneurs,” said Jon Maroney, partner with the Oregon Venture Fund. “It’s exciting to see how big the Angel Food Fund will grow and which startup or startups will benefit from its investment.”
Accredited investors interested in participating in the Angel Food Fund are invited to an information session on Tuesday, April 23, 4:30 p.m. – 6:30 p.m. at the offices of Tonkon Torp. For more information, please visit https://www.oen.org/calendar-events/afc-investor-info-session-2019/.
For additional information on the Angel Food Conference and Education Series, please visit https://www.oen.org/angel-food-conference-2019/.
About Oregon Entrepreneurs Network (OEN)
OEN, a nonprofit in the State of Oregon, is one of the first and largest organizations dedicated to improving Oregon’s economy by supporting startups from every industry across the state. A member-based organization with a 28-year history, OEN is the heart of Oregon’s entrepreneurial community. OEN helps entrepreneurs start up and scale up by connecting them to the people they need to know, the programs and education they need to grow, and the capital they need to scale. Its mission is to drive innovation, facilitate job creation, and put Oregon on the map as a center for entrepreneurial excellence. Learn more at oen.org.
Contact:
Miles Shattuck
Marketing & Communications Manager
Oregon Entrepreneurs Network (OEN)
(503) 222-2270
miles@oen.org
