Elevate Capital to Manage Oregon's $15M SSBCI Venture Direct Program
- Editor
- Feb 3
- 1 min read
What's Happening: Elevate Capital, Oregon's first inclusive venture capital fund, has been selected by Business Oregon to manage the $15 million State Small Business Credit Initiative (SSBCI) Venture Direct program. This program aims to invest in Oregon startups over the next four to six years, with a focus on supporting underrepresented entrepreneurs.
The Key Moves:
Elevate Capital will allocate up to $15M to invest in Oregon startups over the next 4-6 years.
Each SSBCI investment requires at least a 1:1 match at the time of investment.
At least 40% of the SSBCI portfolio will include SEDI (socially and economically disadvantaged individuals) -owned businesses.
By The Numbers :
$15M total allocation for the SSBCI Venture Direct program
1:1 minimum match required for each SSBCI investment
40% minimum allocation for SEDI-owned businesses in the portfolio
Key Quotes:
"We are thrilled to receive the continued trust and confidence from the State of Oregon," says Nitin Rai, Elevate Capital's Founder and Managing Partner.
"This new program provides an excellent opportunity to bolster the state's economy," says Ben Nahir, Venture Principal, Elevate Capital.
*KQ3*
The Bottom Line: Elevate Capital's selection to manage Oregon's SSBCI Venture Direct program represents a significant step in supporting the state's startup ecosystem, particularly for underrepresented entrepreneurs. The $15 million fund, combined with matching investments, has the potential to catalyze substantial growth in Oregon's early-stage business landscape.
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