Bend, Ore.-based Cascade Seed Fund, which is rebranding from Cascade Angels Fund, has held an initial close on the sixth fund since 2014 at $5.4 million.
Investors in the fund include individual and institutional investors including Oregon Community Foundation and the State of Oregon.
Focused on early stage technology and consumer products companies located in Oregon and the Pacific Northwest, the fund supports 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.
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 Harrelson in the management of Cascade Angels Fund V and serves as a Venture Partner to the previous Cascade Angels Funds.
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.
FinSMEs
19/10/2019