Elevate Capital announced it has deployed $1.6 million into five Oregon-based startups through the state’s Venture Direct program, a venture capital initiative supported by the federal State Small Business Credit Initiative (SSBCI). The firm said the investments are intended to expand access to early-stage capital for local founders and support long-term economic growth across Oregon.
The five companies backed through the program are Overwatch Imaging ($500,000), CleanHaus ($250,000), PortalSphere ($250,000), StrateSea ($350,000), and Osheru ($250,000). Elevate said each investment was selected through its diligence process and was supported by matching private capital at the time of investment.
Elevate was selected by Business Oregon to manage the venture capital component of SSBCI, citing the firm’s prior management of the state’s Innovation Gap Funds I & II, its ties to Oregon’s startup ecosystem, and its focus on supporting diverse and underserved founders.
Under Venture Direct program guidelines, eligible companies must be headquartered in Oregon, have a majority of employees in Oregon, or maintain a principal business location in the state. Elevate said Oregon-based founders seeking early-stage funding can apply through the firm’s website.
KEY QUOTES:
“From day one, Elevate understood what we’re building and the challenges founders face at this stage. Their hands-on approach and long-term perspective made a meaningful difference for CleanHaus.”
Nat Parker, Founder, CleanHaus
“We launched this program with the shared goal of expanding access to early-stage capital for Oregon entrepreneurs. These first investments demonstrate the quality of emerging companies in Oregon and the catalytic power of pairing public capital with private investment.”
Nitin Rai, Founder, Elevate Capital
“Deploying capital into early-stage companies is already strengthening Oregon’s innovation ecosystem. We’re excited to see Elevate supporting new founders with the resources and guidance needed to scale.”
Ben Nahir, Venture Principal, Elevate Capital
