Cascade Seed Fund, formerly known as Cascade Angels Fund, has raised $5.4 million for its sixth fund. Cascade invests in early-stage technology and consumer products companies based in Oregon and the Pacific Northwest.
BEND, ORE. (PRWEB) OCTOBER 17, 2019
Cascade Seed Fund today announced it is rebranding from Cascade Angels Fund and that it has held an initial close on the sixth fund since 2014 at $5.4 million.
Focused on early stage technology and consumer products companies located in Oregon and the Pacific Northwest, the Fund seeks to support entrepreneurs who are seeking their first outside capital for their companies after having a product and initial customer traction. Unlike previous funds, Cascade Seed Fund will invest more like a traditional venture fund over 3 years with follow on investments while still benefiting from the expertise and experience of an Investment Committee to help review and evaluate potential investments. Investors in the fund include individual and institutional investors including Oregon Community Foundation and the State of Oregon.
“I’m excited to be part of the Cascade Seed Fund and on the Investment Committee,” said Jill Nelson, Founder and former CEO of Portland-based Ruby Receptionists. “Being involved in this way provides me the ability to help review investment opportunities as well as make direct connections with great entrepreneurs early in their journeys.”
Cascade Seed Fund is managed by 44North Ventures, under the leadership of Julie Harrelson and Robert Pease. Harrelson, an entrepreneur, investor and leader in Oregon’s startup community, founded Cascade Angels Fund in 2013 and managed all five predecessor funds to Cascade Seed Fund totaling over $6.5 million in early stage capital and over 30 investments. Pease has over 20 years of experience as an investor, founder, operational executive, and consultant. He joined Julie in the management of Cascade Angels Fund V and serves as a Venture Partner to the previous Cascade Angels Funds.
“Our target average investment of $250,000 fills the gap between individual angel investors and larger institutional funds that have higher minimum investment amounts,” said Robert Pease, Managing Director of 44North Ventures, Fund Manager for Cascade Seed Fund. “Our fund size also gives us flexibility in the stage, industry, and return potential of our investments that is aligned with our regional entrepreneurial ecosystem.”
In addition, Harrelson and Pease have personally established the Cascade Seed Fund Innovation and Entrepreneurship Scholarship at Oregon State University – Cascades intended to provide tuition assistance to students who demonstrate an interest in entrepreneurship and possess leadership potential. To learn more or donate, please visit https://cascadeseedfund.com/scholarship/.
“We invest in overlooked entrepreneurs: market disruptors, minorities, and those located outside major metropolitan centers and in rural communities.” said Julie Harrelson, Managing Director of 44North Ventures, Fund Manager for Cascade Seed Fund. “ This fund and our new name are building upon six years of seed stage investing and we are excited to begin the next phase of our work.”
About Cascade Seed Fund
Founded in 2013 and investing as Cascade Angels Fund across five funds, we became Cascade Seed Fund in 2019 building on more than six years of early stage investing experience. Today we continue to seek out opportunities to work with amazing entrepreneurs in Oregon and throughout the Pacific Northwest.
The Fund’s investors include prominent business leaders, exited entrepreneurs and institutional investors who are committed to contributing to a sustainable economy and building Oregon’s entrepreneurial ecosystem. Since 2014, all of the Cascade Funds combined have raised over $12 million and invested in a total of 30 early-stage companies that cumulatively employ over 200 people. For more information, visit http://www.CascadeSeedFund.com, https://gust.com/organizations/cascade-seed-fund or http://www.twitter.com/CascadeFund.
Participation in the Cascade Seed Fund is by referral and invitation only. Angel and venture investments involve a high degree of risk. Participation is limited to “accredited investors,” as defined in Rule 501(a) of Regulation D promulgated under the Securities Act of 1933, as amended.