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|Articles - July/August 2013|
|Monday, July 08, 2013|
Page 3 of 4
Oregon Angel Fund founder Eric Rosenfeld would agree that he and his band of intrepid investors are enticed by nanotechnology. He’s also quick to note, however, that OAF investors tend to gravitate toward Oregon industries “where there is already a concentration or cluster of talent to draw from,” i.e., not nano-inspired businesses. Since 2007, OAF has put together a fund each year (this year’s is $5.7 million with 130 investors) with the aim of making four to seven company investments, from $100,000 up to $1 million.
Prior to 2011, Rosenfeld says, OAF didn’t have particular investor expertise in the nanorealm; roughly 50% of the last two funds’ investments were in software-related companies. However, the due-diligence committee formed to explore investment possibilities in Portland-based Pacific Light Technologies helped shift that. OAF has given money to Pacific Light and NorthShore Bio, and now has an investment offer pending with bioMetric Holdings.
Rosenfeld, 48, says OAF searches for “showstopper” ideas among the 100 to 200 business plans they see each year. Intel alumni are a source of both investors for OAF funds and ideas for companies; Rosenfeld says Intel is almost like having a semiconductor university in the region.
“We see the really neat stuff, the nano innovations, happening at the intersection of different disciplines rather than within the core disciplines,” Rosenfeld says. “Like in the case of NorthShore Bio, where people coming out of Intel who understand semiconductors are coming together with others who get digital biology, to develop sensing ‘nanopore’ chips. And even Pacific Light, which blends expertise in electronics with advances in nano-level optics.”
Despite enthusiasm for OAF investments in these “intersection” nanocompanies, Rosenfeld is clear that an economic success is now needed, and the sooner the better.
“It’s still early, but we need a success and some wealth generation to initiate that cycle of wealth creation,” he says. “The cycle works in Seattle and the Bay Area, but it hasn’t happened here in nano.”
Practically speaking, without a nanocluster, whether in digital biology, electronics or some other area, supply chains don’t develop. Existing companies also have less of a local talent pool. In addition, as Rosenfeld explains it, OAF is typically a first or lead investor in local Oregon startups. As companies go through further funding rounds, however, Oregon’s venture capital community may not be big enough, and some startups may bow to demands to pick up stakes and move nearer the Silicon Valley investor community.
“We have the inklings, the embryonic stages,” Rosenfeld said. “But these days it actually takes a village to grow a successful company.”
Friday, July 18, 2014
BY JASON NORRIS | OB GUEST CONTRIBUTOR
Back in May, we shared a common Wall Street quote about investing, “Sell in May and go away.” Fast forward to July and the most common question we have been getting from clients is, “When is the market pullback going to occur?”
Monday, June 16, 2014
The Oregon economy could get a boost from a new trade agreement being negotiated between the U.S. and the European Union.
Thursday, July 10, 2014
BY TOM COX | OB BLOGGER
Tom Cox interviews Dr. Mark Goulston, author of Just Listen, Discover the Secret to Getting Through to Absolutely Anyone.
Thursday, June 12, 2014
BY ANDREA DURBIN | OB GUEST BLOGGER
Last week, the Obama administration took an important and welcomed step in the effort to protect the health and well-being of all Oregonians by limiting carbon pollution from existing power plants.
Tuesday, June 03, 2014
Citing the transition to catch shares management as a key to rebuilding stocks and reducing bycatch, 13 species caught by the West Coast trawl fishery today earned designation from the Marine Stewardship Council (MSC) as sustainable.
Friday, June 06, 2014
BY KATIE AUSBURGER | OB GUEST CONTRIBUTOR
How to build a hipster-friendly work environment.
Thursday, June 05, 2014
BY HANNAH WALLACE | OB BLOGGER
What does it take to launch and run one of these mobile food businesses?
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Vigilant enters a New Year with a new president.
How George Fox has become one of Oregon's largest private universities.
Forest Grove sees growth in the burgeoning food and beverage scene.
Lane Powell Shareholder Susan K. Eggum has been elected as vice chair of programs and projects for the International Association of Defense Counsel’s (IADC’s) Employment Law Committee.
Geffen Mesher is saddened to announce the passing of long-time shareholder, Tom “Mike” Anderson, who died on July 10, 2014, from liver disease diagnosed after recent heart surgery. He was 55 years old.
Fifteen Lane Powell attorneys have been named 2014 “Oregon Super Lawyers,” and another five attorneys have been named as “Oregon Rising Stars” by Super Lawyers magazine.