OEN NewsThe Oregon Community Foundation Invests $25,000 in OEN’s Angel Oregon Spring 2015 LLC Investment Award
March 27, 2015 (Portland, OR) —The Oregon Community Foundation (OCF) has committed $25,000 to OEN’s Angel Oregon Spring 2015 LLC Investment Award. The LLC is organized each year by Oregon Entrepreneurs Network (OEN), a Portland-based nonprofit with a mission to drive innovation, facilitate job creation, and put Oregon on the map as a center for entrepreneurial excellence.
This marks the third year that OCF has invested in OEN’s Angel Oregon; this year, OCF has increased its investment from $20,000 to $25,000. The investment stems from the Foundation’s commitment to use a small portion of the endowment to invest in Oregon-based funds that increase jobs in Oregon.
Out of a total of 61 applicants, 11 companies are currently in the running to receive OEN’s Angel Oregon Spring 2015 LLC Investment Award. Five to six semifinalists will be announced on April 1 and three finalists announced on April 7. The winner of the award, which historically ranges from $200,000 to $300,000, will be determined by an investor vote following a thorough due diligence process and will be announced at OEN’s Angel Oregon Showcase on Wednesday, April 22 at The Sentinel Hotel in Portland, OR.
Since 2005, 612 companies have applied to compete for OEN’s Angel Oregon Investment Award and 89 were selected to present. From 2005 to 2014, $3 million has been directly invested through OEN’s Angel Oregon LLC Investment Award and there have been four favorable exits. Additional investment has been made outside of the LLCs, and Angel Oregon finalist companies have created more than 700 jobs. Past winners include Nouvola, brandlive, Wild Friends Foods, Chez Marie, OpenSesame, and DesignMedix.
“We are so grateful for OCF’s continued support of Angel Oregon,” says Linda Weston, Executive Director of OEN. “This investment is critical to expanding access to capital for our state’s early-stage entrepreneurs and growing our innovation economy. OEN’s Angel Oregon Program has not only catalyzed growth at dozens of high-potential startups, but also inspired the formation of other angel investment initiatives, including the Oregon Angel Fund, Bend Venture Conference, Willamette Angel Conference, and Roseburg Angel Investment Network.”
Says Elizabeth A. Carey, Vice President and Chief Financial Officer of OCF, “We’re pleased to support the Oregon Entrepreneurs Network and to encourage entrepreneurs and innovators to build a thriving start-up community in Oregon.”
About OCF
The mission of The Oregon Community Foundation is to improve life in Oregon and promote effective philanthropy. OCF works with individuals, families, businesses and organizations to create charitable funds to support the community causes they care about. Through these funds OCF awarded approximately $80 million in grants and scholarships in 2014.
About OEN
OEN connects entrepreneurs to a network of peers and mentors, startup funding opportunities, and hands-on training. A nonprofit, membership-driven organization with a 23-year track record, OEN drives innovation, facilitates job creation, and puts Oregon on the map as a center for entrepreneurial excellence. For more information, visit www.oen.org.
Contacts
OCF Contact: Melissa Durham, mdurham@oregoncf.org or 503.227.6846
OEN Contact: Kerala Taylor, Director of Marketing & Communications: keralat@oen.org or 503.222.2270
