Seven Peaks Ventures throws $100K into BVC – assures Oregon’s largest angel conference will be bigger than ever.
BEND, Ore. – September 9, 2014 – Economic Development for Central Oregon (EDCO), host of the annual Bend Venture Conference (BVC), has secured the participation of Seven Peaks Ventures Fund I, LP, the Bend-based early-stage venture capital fund that invests in capital-efficient startups throughout the Pacific Northwest, who will be sponsoring a $100,000 Seven Peaks Ventures Investment Award for this year’s launch stage company competition.
Combined with Cascade Angels Fund 2014, LLC’s $121,900 investment, The Oregon Growth Account and Oregon Community Foundation of $50,000 and $25,000 respectively, the 2014 BVC will be the biggest ever with nearly $300,000 in capital available to companies competing in the competition, not including funds contributed by additional angel investors. The 2014 Bend Venture Conference will take place at the iconic Tower Theatre on Oct. 17th
“The news of Seven Peaks’ additional investment to the 2014 BVC is important in many ways to many different stakeholders in Central Oregon,” said Brian Vierra, EDCO Venture Catalyst. “The BVC is publicly acknowledged as one of the most important events in Oregon. The fact that we are orchestrating such a high quality event from Central Oregon is a testament to the spirit of the entrepreneurial ecosystem here. Mentoring and fostering start-ups is just one way EDCO works to create jobs in our communities. The BVC is our chance to publicly showcase the fruits of our labors.”
Seven Peaks’ involvement is taking the conference to a new level of opportunity for the five companies competing in the launch stage event. “We created the Seven Peaks Investment Award to complement the existing BVC fund and to offer the entrepreneurial community here in Central Oregon the capital and expertise they need to build their businesses – hopefully creating a more level playing field for those companies that don’t have access to the financial infrastructure and services that exist in more mainstream tech meccas like Silicon Valley,” said Dino Vendetti, General Partner at Seven Peaks Ventures. “Because the award can be granted to one company or divided among the five competing companies based on the pitches we hear, we think it will be a real game changer for the companies that stand out in the competition.”
The conference is divided into two categories that consist of five launch stage and five concept stage companies vying for investment and cash prizes. The concept stage finalists compete for a $10,000 cash prize from BendBroadband while the launch stage finalist could collect the nearly $300,000 investment. . BVC cannot guarantee that investments will be made in any specific amount, because the final amounts to be awarded are dependent on investment commitments received from third party investors and the ability of the winning companies and the investors to agree on the terms and conditions of the investment.
About Economic Development for Central Oregon (EDCO)
Founded in 1981, 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 our businesses that are already here to grow their operations. This is the fifth year EDCO has managed BVC. Learn more about EDCO at www.edcoinfo.com and the Bend Venture Conference at www.bendvc.com.
About Seven Peaks
Seven Peaks Ventures is Oregon’s premier early-stage venture capital fund investing in capital-efficient companies whose founders are passionate about transforming lives, industries and businesses with innovative solutions in consumer software, enterprise and digital health technologies. Founded in 2013, Seven Peaks’ mission is to give entrepreneurs in Central Oregon and throughout the Pacific Northwest an “unfair advantage” in building and scaling their businesses by providing them with capital and access to experience, expertise and networks that can help them execute on their vision. For more information visit www.sevenpeaksventures.com.Read More...