In early 2016, an expert Advisory Committee named Portland-based Elevate Capital as the management team for the newly created Inclusive Startup Fund.
The Elevate Capital team includes Managing Director Nitin Rai, Robin Jones Maloney (Venture Advisor) and Eric Boothe (Venture Associate). Collectively, the team has more than 30 years of professional experience and has led investments in dozens of startups.
The fund provides early-stage investment capital and mentoring to local high-growth companies founded by underrepresented groups across a variety of industries. Prosper Portland and Multnomah County each contributed $500,000 and Oregon Governor Kate Brown and Business Oregon committed $250,000 to launch the fund in 2015.
The Advisory Committee consisted of the following members: Gustavo Cruz-Chair (Farleigh Wada Witt; Prosper Portland Board); Diane Fraiman (Voyager Capital); Nita Shaw (Micro Enterprise Services of Oregon); Ana Andueza (Angel Oregon); Jason Gershenson (White Summers); Rick Turoczy (Portland Incubator Experiment); Monica Enand (Zapproved; Oregon Growth Board); Paula Hayes (Hue Noir).
In August 2016, Elevate Capital announced that it has completed the first close of its $3 million Elevate Inclusive Fund and $10 million Elevate Capital Fund and has made investments in its first cohort of six women and minority entrepreneur-led startups.