Economic Development for Central Oregon announced today that the total awards for last year’s BVC hit $947,500 — up from $620,00, which was awarded at the conference in mid-October. Odysys and Perfect Company, officially closed at $225,000 and $125,000, respectively, according to the EDCO news release.
“We managed to set a record for investments made through the BVC LLC this year, with $350K being invested, after expenses,” says Brian Vierra, Venture Catalyst for EDCO. “This was particularly noteworthy given that Cascade Angels, which invested through the LLC last year, made their investment directly in a company this year, and it was not represented by the LLC.”
Jason Moyer, BVC Fund Manager, says that all five growth stage finalists received funding. “With roughly $2 million invested in the competing companies over the last two years, the Bend Venture Conference has moved into a new league and it’s showing in the quality of the applicants,” Moyer says.
Here is EDCO’s breakdown of the $947,500:
- BVC LLC (OCF, OGA, MMT, individual units) – Perfect Company and Odysys: $372,500
- Cascade Angels – Scratch-it: $125,000
- Seven Peaks Ventures – Scratch-it: $100,000
- Credo Investments – Scratch-it: $50,000
- Side Deals – Honeycomb, Nemametrix, Scratch-it, Perfect Company: $215,000
- BendBroadband Business Early Stage Cash Prize – SnoPlanks: $15,000
- Bend Outdoor Worx – Robert Axle Project: $10,000
Other Awards/In Kind