Oregon investors powering local companies in 2026

Oregon raised $2.1B across 165 deals in 2025. Most capital went to software, outdoor/athletic tech, and cleantech. The ecosystem centers on Portland with emerging clusters in Bend and Eugene. Intel, Nike, and Columbia Sportswear create natural partnership opportunities. You won't find the deal volume of Seattle but you'll get investors who understand hardware and sustainability-focused businesses. The state values impact alongside returns - expect questions about your environmental footprint.

Quick list

Why Oregon works for certain founders

Oregon closed 165 deals in 2025 with median seed rounds at $1.9M. That's below Seattle averages but above most western states outside California. Portland offers lower burn rates than SF or Seattle - your $2.5M seed round lasts 20-24 months instead of 12-15. Most capital concentrates in Portland where established funds operate. Bend has active angels and outdoor industry investors. Eugene has limited activity outside University of Oregon spinouts.

The state excels at outdoor/athletic tech, cleantech, and sustainable businesses. Nike and Adidas North America headquarters create opportunities for athletic tech and apparel innovation. Columbia Sportswear and other outdoor brands anchor that ecosystem. If you're building sustainable products or services with clear environmental benefits, Oregon investors are more receptive than coastal VCs who treat ESG as checkbox exercise.

Late-stage capital is limited but improving. Series B and beyond usually requires bringing in Seattle or Bay Area investors. Oregon funds expect realistic growth plans with emphasis on unit economics - show them 2x annual growth with improving margins and you'll get meetings. Show them 10x projections burning $1M monthly and you won't. The Tripwire, Jive Software, and Urban Airship exits created experienced operators who invest locally.

Software works well but consumer hardware struggles unless you're in outdoor/athletic categories. Enterprise B2B software gets funded consistently. Cleantech and renewable energy receive strong attention. Food and agriculture tech has momentum with Oregon's wine industry and sustainable farming culture. Real estate tech works with Portland's construction and development activity. Pure consumer apps struggle without West Coast market density.

Picking the right Oregon investor

Local presence helps but isn't required. Portland investors will fund remote founders if you've got strong product-market fit. Cascade Angels prefers local teams or commitment to establish Portland presence. Portland Seed Fund exclusively backs Portland metro area founders. Outdoor and athletic tech companies benefit from proximity to Nike, Adidas, and Columbia Sportswear. Software founders can raise remotely but expect quarterly Portland visits.

Portfolio companies reveal sector expertise and values. Voyager Capital focuses on enterprise software with proven revenue. Elevate Capital prioritizes diverse founding teams and impact metrics alongside financial returns. Nautilus Venture Partners only invests in cleantech and sustainability. Rogue Venture Partners backed mobile and consumer tech historically. Bend Venture Conference connects outdoor industry investors to athletic and recreation tech. That alignment matters significantly.

Check sizes run $500K to $2.5M for seed in Oregon, $3M to $10M for Series A. Angels typically invest $25K to $75K individually. Cascade Angels syndicates reach $400K to $1M combined. Growth funds like Bull Run Capital write $8M to $20M checks but require proven revenue over $4M ARR. Valuations run 20-30% below Seattle comparables but terms are generally cleaner.

Oregon investors value sustainability and impact. This isn't marketing language - they'll ask about your carbon footprint, supply chain ethics, and long-term environmental impact. Share your deck through Ellty with unique tracking links for each investor. You'll see which investors spend time on your sustainability metrics versus those who focus purely on financial projections. Portland VCs typically want to see both strong unit economics and positive environmental impact.

The local network connects to specific industries. Portland investors can intro you to Nike and Adidas innovation teams, Intel's procurement for chip-adjacent tech, or Columbia Sportswear for outdoor products. These relationships close partnership deals faster than cold outreach. If you're building enterprise software without Oregon industry connections, the network value drops but Seattle proximity helps.

Follow-on capacity varies significantly. Voyager Capital can lead through Series B. Most angel groups and smaller funds tap out after seed. Plan your Series A with Seattle co-investors - geographic proximity makes this easier than for other states. Oregon funds will participate but rarely lead rounds above $12M. The ecosystem expects you'll eventually need Seattle or SF capital for growth stages. True GDPR principles for document sharing go beyond checkboxes, they shape how investors perceive your discipline.

How to find and approach Oregon investors

Research Oregon deals first. Portland Business Journal covers local funding better than Crunchbase. The Oregonian's Silicon Forest coverage tracks tech deals. Oregon Entrepreneurs Network publishes quarterly reports. Talk to founders at WeWork Portland or Centrl Office - they'll tell you which funds are actively deploying in 2026 versus sitting on portfolios from 2022-2023.

The ecosystem runs through Oregon Entrepreneurs Network. This nonprofit hosts monthly events where investors actually attend and make connections. Portland Incubator Experiment (PIE) for consumer-focused startups. Technology Association of Oregon runs policy events but less deal flow. PNCA's MakeWork coworking brings together creative tech founders. These aren't optional networking - relationships built here lead to funding.

Build relationships 3-6 months before raising. Oregon investors move at moderate pace - faster than Midwest, slower than SF. Attend Oregon Entrepreneurs Network's Venture Showcase quarterly. Portland Startup Week each fall. Bend Venture Conference annually in October - this is THE event for outdoor and athletic tech. TiE Oregon events monthly. These gatherings have credibility with local funds.

Upload to Ellty and create trackable links for each Oregon investor. Portland VCs typically take 1-2 weeks to review decks initially. You'll know who's interested when they revisit your sustainability metrics and customer traction slides. Oregon investors balance financial performance with impact - expect questions about both. Track which pages they spend time on to understand their priorities.

Portland Seed Fund runs application rounds quarterly for Portland metro founders. Oregon Story Board awards grants and connects winners to investors. Nike+ Accelerator occasionally scouts local athletic tech. These programs connect you to Oregon investors efficiently. Skip the small university pitch competitions unless you're commercializing UO or PSU research. Once your PDF leaves your inbox, control evaporates, unless you know how to prevent PDF forwarding.

Connect with portfolio founders before cold emailing. The Oregon startup community is collaborative and accessible. Tripwire and Jive Software alumni invest actively. Urban Airship's former team knows the Portland ecosystem. Find founders who've raised from your target funds on LinkedIn and ask for intros. Response rates jump from 12% cold to 60%+ with warm connections.

Set up an Ellty data room before partner meetings. Oregon investors want to see your financial model, customer pipeline, and sustainability metrics early. For outdoor/athletic tech, they'll request product specifications and manufacturing plans. One secure link with view analytics keeps everything organized. You'll see which materials they reviewed before making decisions.

Understand Oregon's pace runs 2-4 months from first meeting to term sheet. Faster than most Midwest markets, slower than SF. Outdoor and hardware deals take 4-6 months due to product diligence. Most investors want to see quarterly progress and talk to customers before committing. Send monthly updates with specific metrics. The Portland ecosystem values authenticity - don't overpromise.

Oregon-specific considerations

Oregon investors prefer B2B over consumer but not as dramatically as Midwest markets. They'll fund consumer products if you're in outdoor, athletic, or sustainable categories with strong brand potential. Enterprise software works consistently. Anything touching Nike, Adidas, Columbia Sportswear, or Intel's ecosystem gets attention. Cleantech and renewable energy receive strong interest - Oregon has more cleantech investors per capita than most states.

Athletic and outdoor tech work exceptionally well. Nike's presence creates natural beta testing and partnership opportunities. Adidas North America provides another channel. Columbia Sportswear, Keen Footwear, and other Portland-based outdoor brands actively scout local startups. Food and beverage tech has momentum with Oregon's craft brewing, wine industry, and sustainable food culture.

Timelines move at moderate pace. Most Oregon investors run established funds with defined processes. Expect 2-3 partner meetings before term sheets for seed and Series A. The ecosystem values direct communication - if an investor isn't interested, they'll tell you within 2-3 weeks rather than ghosting. "Portland nice" exists but founders appreciate the straightforward feedback.

Impact and sustainability metrics matter more here than most markets. This isn't performative - Oregon investors genuinely care about environmental impact and will ask detailed questions. If you're building a high-carbon business model, be prepared to defend it or look elsewhere. B Corps and benefit corporations get favorable treatment. Traditional extractive business models face skepticism.

19 top investors in Oregon

1. Voyager Capital

Pacific Northwest fund that led Puppet before acquisition and backs enterprise software across the region.

• Recent Deals: Puppet (pre-acquisition), Multiple Oregon enterprise software $5M-$15M Series A/B (2024-2025)
• LinkedIn: Erik Benson
• Sector Focus: Enterprise software, B2B SaaS, cloud infrastructure
• Stage Focus: Series A, Series B
• Office Location: 333 SW 5th Ave, Portland
• Website: voyagercapital.com

2. Oregon Venture Fund

State-backed fund that invested in Act-On and other Portland software companies before growth rounds.

• Recent Deals: Act-On early rounds, Multiple Oregon software companies $2M-$8M Series A (2024-2025)
• LinkedIn: David Vernier
• Sector Focus: Software, cleantech, healthcare IT, advanced manufacturing
• Stage Focus: Seed, Series A
• Office Location: Portland
• Website: oregonventurefund.com

3. Cascade Angels

Largest angel network in Oregon with 80+ members investing across Portland metro.

• Recent Deals: 30+ Oregon companies $250K-$1M seed rounds annually (2024-2025)
• LinkedIn: Cascade Angels
• Sector Focus: Software, hardware, consumer products, cleantech
• Stage Focus: Pre-seed, seed
• Office Location: Portland
• Website: cascadeangels.com

4. Portland Seed Fund

Pre-seed fund exclusively for Portland metro area founders building capital-efficient businesses.

• Recent Deals: 20+ Portland startups $50K-$250K pre-seed annually (2024-2025)
• LinkedIn: Russ Kami
• Sector Focus: Software, consumer products, hardware
• Stage Focus: Pre-seed
• Office Location: Portland
• Website: portlandseedfund.com

5. Rogue Venture Partners

Portland fund that backed Urban Airship and other mobile and consumer tech companies.

• Recent Deals: Urban Airship early rounds, Multiple Oregon consumer tech $2M-$8M seed/Series A (2024-2025)
• LinkedIn: Josh Schindler
• Sector Focus: Consumer tech, mobile, marketplaces, B2B software
• Stage Focus: Seed, Series A
• Office Location: Portland
• Website: rogueventurepartners.com

6. Bend Venture Conference

Central Oregon investor network and annual conference connecting outdoor tech to capital.

• Recent Deals: Conference attendees secure $20M+ annually in Oregon deals (2024-2025)
• LinkedIn: Bend Venture Conference
• Sector Focus: Outdoor tech, athletic products, software, tourism
• Stage Focus: Pre-seed, seed, Series A
• Office Location: Bend
• Website: bendvc.com

7. Oregon Angel Fund

Statewide angel fund coordinating investments across Portland, Eugene, and Bend chapters.

• Recent Deals: Multiple Oregon companies statewide $150K-$750K seed rounds (2024-2025)
• LinkedIn: Oregon Angel Fund
• Sector Focus: Software, cleantech, consumer products, healthcare
• Stage Focus: Pre-seed, seed
• Office Location: Statewide chapters
• Website: oregonangelfund.com

8. Elevate Capital

Portland impact fund that backs diverse founders with emphasis on underrepresented entrepreneurs.

• Recent Deals: Multiple Oregon diverse-led startups $500K-$3M seed rounds (2024-2025)
• LinkedIn: Nitin Rai
• Sector Focus: Software, consumer products, cleantech, impact
• Stage Focus: Seed, Series A
• Office Location: Portland
• Website: elevate.vc

9. CBRE Ventures

Real estate services firm with Portland office backing proptech and real estate tech.

• Recent Deals: Multiple West Coast proptech companies including Oregon $3M-$12M rounds (2024-2025)
• LinkedIn: CBRE Ventures
• Sector Focus: Proptech, real estate tech, construction tech
• Stage Focus: Seed, Series A, Series B
• Office Location: Portland and Los Angeles
• Website: cbre.com/ventures

10. Founders Pad

Portland pre-seed and seed fund backing Pacific Northwest technical founders.

• Recent Deals: Multiple Oregon and Washington startups $250K-$2M seed (2024-2025)
• LinkedIn: Bill Boebel
• Sector Focus: B2B software, developer tools, infrastructure
• Stage Focus: Pre-seed, seed
• Office Location: Portland
• Website: founderspad.com

11. Bull Run Capital

Portland growth equity fund providing later-stage capital for Oregon software companies.

• Recent Deals: Multiple Oregon B2B software $8M-$20M Series B/growth (2024-2025)
• LinkedIn: Bull Run Capital
• Sector Focus: B2B software, SaaS, enterprise tech
• Stage Focus: Series B, growth
• Office Location: Portland
• Website: bullruncap.com

12. Oregon Growth Fund

State-backed initiative supporting high-growth Oregon companies with flexible capital.

• Recent Deals: Multiple Oregon portfolio companies $500K-$5M seed/Series A (2024-2025)
• LinkedIn: Oregon Growth Fund
• Sector Focus: Software, manufacturing, cleantech, healthcare
• Stage Focus: Seed, Series A
• Office Location: Statewide
• Website: oregongrowthfund.com

13. Tech Ranch Austin

Texas accelerator with Portland presence backing Pacific Northwest startups.

• Recent Deals: Multiple Oregon companies through acceleration program (2024-2025)
• LinkedIn: Tech Ranch
• Sector Focus: Software, hardware, all sectors
• Stage Focus: Pre-seed, seed
• Office Location: Portland and Austin
• Website: techranchaustin.com

14. Nautilus Venture Partners

Portland cleantech and sustainability fund exclusively backing environmental solutions.

• Recent Deals: Multiple Oregon cleantech companies $2M-$10M seed/Series A (2024-2025)
• LinkedIn: Nautilus Ventures
• Sector Focus: Cleantech, renewable energy, sustainable products, circular economy
• Stage Focus: Seed, Series A, Series B
• Office Location: Portland
• Website: nautilusvp.com

15. PDX Seed Fund

Portland-specific pre-seed investor backing local founders at earliest stages.

• Recent Deals: 15+ Portland startups $75K-$300K pre-seed annually (2024-2025)
• LinkedIn: PDX Seed Fund
• Sector Focus: Software, consumer products, hardware
• Stage Focus: Pre-seed
• Office Location: Portland
• Website: pdxseedfund.com

16. University Ventures Fund

Eugene-based fund backing University of Oregon spinouts and research commercialization.

• Recent Deals: Multiple UO spinouts $100K-$750K seed rounds (2024-2025)
• LinkedIn: University Ventures
• Sector Focus: Research commercialization, deep tech, software
• Stage Focus: Pre-seed, seed
• Office Location: Eugene
• Website: uoventures.com

17. Columbia River Ventures

Portland fund backing software and outdoor/athletic tech with regional focus.

• Recent Deals: Multiple Oregon software and outdoor tech $1M-$5M seed/Series A (2024-2025)
• LinkedIn: Columbia River Ventures
• Sector Focus: Software, outdoor tech, athletic products, consumer hardware
• Stage Focus: Seed, Series A
• Office Location: Portland
• Website: columbiariverventures.com

18. Green Tec Capital

Portland clean energy and sustainability fund backing environmental technology.

• Recent Deals: Multiple Oregon clean energy companies $1M-$8M seed/Series A (2024-2025)
• LinkedIn: Green Tec Capital
• Sector Focus: Clean energy, solar, wind, energy storage, sustainable tech
• Stage Focus: Seed, Series A
• Office Location: Portland
• Website: greenteccapital.com

19. Oregon Innovation Council

State organization supporting innovation with connections to investors and resources.

• Recent Deals: Portfolio companies connected to capital sources (2024-2025)
• LinkedIn: Oregon Innovation Council
• Sector Focus: All sectors, innovation focus
• Stage Focus: Pre-seed, seed
• Office Location: Statewide
• Website: oregoninnovationcouncil.org

Track your Oregon investor outreach effectively

These 19 investors closed 120+ Oregon deals in 2024-2025. Before you start attending Oregon Entrepreneurs Network events and driving to Bend for outdoor tech conferences, set up tracking that shows you which investors care about your sustainability metrics as much as your financial projections.

Upload your deck to Ellty and create unique links for each Oregon investor. You'll see exactly which slides they review and how long they spend on your environmental impact versus unit economics. Portland VCs typically want to see both - they'll spend 3-5 minutes on financial models if interested but also review any sustainability or impact slides carefully. Track which pages they revisit to understand their priorities.

When Voyager Capital or Oregon Venture Fund ask for due diligence materials, share an Ellty data room instead of emailing files. Your financial model, customer contracts, and sustainability metrics in one secure place with view analytics. You'll know if they actually reviewed your impact assessment or carbon footprint data before the final partner meeting.

Common questions

Do I need to be based in Oregon to raise from Oregon investors?

No, but it helps for outdoor and athletic tech companies. Nike, Adidas, and Columbia Sportswear connections benefit from local presence. Portland Seed Fund and some angel groups require Portland metro presence. Most established VCs will fund remote founders with strong traction. Expect quarterly Portland visits for board meetings and network building.

How does Oregon compare to Seattle for fundraising?

Seattle has 4-5x more capital and larger average check sizes. Oregon works well for seed stage but most companies need Seattle investors for Series A and beyond. Oregon offers lower burn rates and less competition for attention. Seattle has more enterprise software focus. Oregon has stronger cleantech and outdoor/athletic tech ecosystems. Most Oregon founders eventually need Seattle capital for growth stages.

What's the average seed round size in Oregon?

$1.9M across all sectors. Enterprise software averages $2.2M. Outdoor and athletic tech closer to $1.6M due to hardware components. Cleantech ranges $2M-$2.8M depending on technology maturity. Consumer products rarely exceed $1.5M unless you've got strong brand traction. Most rounds take 18-22% dilution with standard 1x liquidation preferences.

Should I raise locally or go straight to Seattle or SF?

If you're building outdoor/athletic tech, cleantech, or capital-efficient B2B software, start in Oregon. Seed rounds close faster with less competition. If you need $5M+ seed rounds or you're building high-growth consumer tech, go to Seattle or SF. Oregon works best for founders who value impact alongside returns and want 20-24 month runways from seed capital.

Do Oregon investors expect in-person meetings?

Initial meetings happen on Zoom but expect to visit Portland for partner meetings. Athletic and outdoor tech companies should plan product demonstrations in Portland where investors can test prototypes. Most funds want quarterly in-person updates once invested. The Portland ecosystem is accessible - investors grab coffee rather than formal conference room meetings. Less formal than SF, more personal than Seattle.

What industries get funded most in Oregon?

Enterprise B2B software leads at 35% of deals. Outdoor and athletic tech takes 20% with Nike and Adidas ecosystem. Cleantech and renewable energy around 18% - highest per capita in the West. Consumer products 12% mostly outdoor and sustainable categories. Food and beverage tech 8% with craft brewing and wine industry. Healthcare IT 7% remainder scattered across sectors.

How long does fundraising take in Oregon?

2-4 months for software, 4-6 months for hardware and outdoor products. Product diligence extends timelines for physical goods. Most investors want 2-3 in-person meetings before term sheets. Cleantech deals take longer due to technical validation requirements. Oregon investors move at moderate pace - faster than Midwest, slower than SF. Send monthly updates during diligence with progress on key metrics and milestones.