Oregon Growth Board (OGB) Invests in Cascade Angel Fund 2015, LLC
OGB to provide up to $100K investment in the Central Oregon based fund
BEND, OR – March 9, 2015 Oregon Growth Board and Cascade Angels Fund 2015, LLC (“Cascade Angels Fund 2015” or the “Fund”) have come to an agreement for a potential $100,000K investment.
Cascade Angels Fund 2015 is the second year-round fund based in Central Oregon managed by Harrelson Group. The Fund is committed to helping build Oregon's entrepreneurial ecosystem. Cascade Angels Fund 2014, LLC invested close to $400K in emerging companies and pushed the total investment in Bend Venture Conference to over $1M with its investments in Amplion and Poached Jobs.
“Cascade Angels Fund 2014 had a successful first year,” said Harrelson. “This investment in the 2015 Fund is a vote of confidence in our early efforts and an incentive to build a larger fund to provide local, patient capital for launch stage companies.” The structure of the agreement is that OGB will provide a $50K investment and add an additional $50K if the Fund reaches a total investment of $500K.
Cascade Angels Fund 2015 mission is to create opportunities for investors and businesses in and with connections to Central Oregon to drive economic growth and fuel prosperity. The Fund currently has an application period open for launch stage companies on Gust.com: http://gust.com/angel-group/cascade-angels-fund. Please see Cascade Angels website for additional information regarding its purpose, mission and goals.
“Regional angel funds are an important building block in Oregon’s effort to build a stronger economy. We are pleased to be making this investment. ”said Beth Cooke, Executive Director of the Oregon Growth Board. The Oregon Growth Board was created in the 2012 Legislative Session in an effort to spur more economic growth in Oregon, with a focus on increasing the state's ability to grow companies from early stage to large, locally headquartered firms. An important focus is placed on leveraging state resources to improve the availability of capital for high-growth companies.
Cascade Angels Fund is sponsored by Bank of the Cascades, Jones & Roth, Karnopp Petersen LLP and Harrelson Group.
*Membership in the Cascade Angels Fund 2015 is by referral and invitation only. Angel and venture investments involve a high degree of risk. Participation in the Cascade Angels Fund 2015 is limited to "accredited investors," as defined by the general rules and regulations of the Securities Act of 1933 of the Securities and Exchange Commission AND to investors who have such knowledge and experience in financial and business matters that they are capable of evaluating the merits and risks of prospective investments.This release is not an offer to sell or solicit investment in the Cascade Angels Fund 2015, its portfolio companies, or applying companies. The Cascade Angels Fund 2015 does not operate as a broker-dealer or investment adviser and is not registered as such with any federal or state securities regulator.