VC fund raising $10M for sustainable businesses in Northwest

VC fund raising $10M for sustainable businesses in Northwest

Former ShoreBank Pacific CEO David Williams joined Brock Metcalf at Reference Capital to raise a $10 million fund to make investments in sustainable Oregon and Washington businesses. 

The Sustainability Investment Fund 2012 will take investments as small as $25,000.

It's the third sustainability fund to be raised and managed by Reference Capital, which counts Agilyx, EnerG2 and Celilo Media among its portfolio companies. The first two funds were $2 million each.

Williams said one quarter of the new fund would be invested in early stage companies with half going toward growth stage companies and another quarter designated for companies in transition. The fund will invest in what Williams likes to call "indigenous" businesses — companies with an inherent reason for being located in the Northwest — with a particular focus on businesses solving environmental and energy problems.

Read more at Sustainable Business Oregon.

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