Elevate Capital Selected by Business Oregon to Manage $15M SSBCI Venture Direct Program for Oregon Startups

Elevate Capital, an Oregon-based venture capital fund dedicated to fostering diversity and inclusion, has been selected by Business Oregon to manage the State Small Business Credit Initiative (SSBCI) Venture Direct program.

This program will focus on investing in Oregon’s startups, with an emphasis on supporting underrepresented entrepreneurs.

$15M Investment for Oregon Startups

The SSBCI Venture Direct program is set to invest up to $15 million in Oregon startups over the next four to six years.

The goal is not only to provide funding but also to stimulate additional investments.

This is due to the requirement that each SSBCI investment must be matched dollar-for-dollar, ensuring that there is a strong incentive for other investors to get involved in Oregon’s growing startup ecosystem.

Supporting Disadvantaged Entrepreneurs

In a move toward fostering a more inclusive economy, the SSBCI portfolio will include at least 40% of investments in businesses owned by socially and economically disadvantaged individuals (SEDI).

This initiative aims to provide vital support to entrepreneurs from marginalized communities, helping them scale their ventures and create more opportunities in the state.

Elevate Capital’s Commitment to Diversity and Innovation

Founded in 2016, Elevate Capital is a venture capital fund with a clear mission: to back entrepreneurs who are often overlooked in the world of investment.

Its focus is on underrepresented groups, including women, BIPOC, LGBTQ+ communities, and those who have limited access to capital due to their regional location.

Elevate Capital supports early-stage startups across a variety of industries, such as healthcare, life sciences, clean tech, and sustainability, by investing in high-risk, research-driven innovation through their Innovation Gap Funds.