To Date, One of the Biggest Investment Rounds for a Portland Company
2008 BVC, LLC Accepts Offer to Exit
BEND, Ore. – June 28, 2018 – On Tuesday, 2008 Bend Venture Conference (BVC) winner Jama Software announced a $200 million growth equity investment, the largest venture financing deal in the Pacific Northwest over the past five years. With this new funding, the BVC 2008 Investor, LLC voted to accept an offer to exit their investment.
In 2008, the BVC, LLC awarded an investment of $110,000 to Jama Software as the winner of the conference. As one of the first investors in the company, this win was instrumental in creating investor confidence that allowed the company to raise a $1 million Series A round led by the Oregon Angel Fund (now Oregon Venture Fund).
“The 2008 Fund had an opportunity in 2015 to exit their Jama investment with a very attractive multiple,” noted Bruce Juhola, the BVC 2008 Investor, LLC’s Managing Member from 2007-2010. “As a Fund, we decided to pass on that offer, but this time the group voted to accept an even more attractive exit.”
Exact details of the deal remain private.
This marks the second exit for a Bend Venture Fund, the previous being Elemental Software from the 2007 BVC, LLC portfolio. Elemental was acquired by Amazon Web Services in 2015.
James “Gator” Hudson, an investor in the 2008 BVC, LLC noted: “To have a Portland company connect with the Bend entrepreneurial community and ultimately win the 2008 Bend Venture Conference foreshadowed what this event has become. Our local Bend Angels are very pleased with the outcome.”
About Bend Venture Conference (BVC)
Now in its 15th year, BVC, hosted by EDCO, is one of the largest angel conferences in the country. Over the past four years, more than $7.8 million has been invested in 34 companies as a result of the conference. This year, over 600 entrepreneurs, investors, and business leaders are expected to attend the multi-day conference on October 18-19, in Bend, Oregon. For more information, visit www.bendvc.com.
About Economic Development for Central Oregon (EDCO)
EDCO is a non-profit corporation supported by private and public members and stakeholders, whose mission is to create middle-class jobs in Central Oregon by: recruiting new employers to move to the region; helping entrepreneurs start new, scalable businesses; and working with businesses that are already here to grow their operations. For more information, visit www.edcoinfo.com.