Remember when the Bend Venture Conference ended and we were all it’s raining money.* Apparently the storm wasn’t quite over. The Cascade Angels Fund 2014 announced Monday that it invested even more into Amplion Research and Poached Jobs, the first and second place BVC winners respectively.
Cascade Angels funded Bend-based Amplion with an additional $48,000 and Poached Jobs, based in Portland, with another $42,000. That brings the Fund’s total investment in the two BVC winners to $211,900.
“As a major investor in the BVC Fund this year, we were pleased to have such great investment candidates to review,” said Julie Harrelson, manager of the Cascade Angels Fund and CEO of the Harrelson Group via the EDCO news release.
“The additional $90,000 investment … is a testament to the high quality standard that the BVC is setting, accelerating our efforts to fill in the gap of much needed local patient capital. We are currently in the process of building the 2015 Fund,” she said.
The BVC proved a boon for Amplion: Including the most recent investment from Cascade Angels, the bioresearch startup won $448,000. Poached Jobs, a hiring platform for the restaurant industry, garnered a total of $142,000.
The last cash infusion brings the total investment for BVC to $1,063,300. That chunk of change, according to EDCO, set a record for the most cash, investment and prizes awarded at an angel conference in the Pacific Northwest.
Brian Vierra, EDCO’s Venture Catalyst, is already looking forward to 2016.
“The BVC and Cascade Angels Funds completed their final due diligence, negotiation, legal review, and funding within approximately 60 days,” he says. “We are already hard at work planning next year’s BVC and will continue to build a strong entrepreneurial community through these efforts.”
Here is a break-down of the $1,063,300 tally:
• BVC LLC Fund Angels: $148,400
• Cascade Angels Fund: $211,900
• Seven Peaks Ventures: $350,000
• Oregon Growth Account: $50,000
• Oregon Community Foundation: $25,000
• Craft3: $26,500
• Mandala Fire Starter Marketing Program: 2 Awards totaling $65,000
• BendBroadband concept stage cash prize: $10,000
• Palo Alto Live Plan: $1,500
• Additional side investments: commitments currently at $175,000
* You don’t remember?! That’s cool. I’ll just be over here crying into my bag of organic cheetohs.
You can reach Kelly by email at [email protected].
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