Total Awards in 2015 Bend Venture Conference Companies Hit $947,500
BEND, Ore. – January 26, 2016 – Economic Development for Central Oregon (EDCO) today announced that the total awards in 2015 Bend Venture Conference companies has hit $947,500, up from $620,000, which was awarded in mid-October at the end of the conference. Investments in two of the winning Growth Stage companies, Odysys andPerfect Company, have officially closed at $225K and $125K, respectively.
“With roughly $2M invested in the competing companies over the last two years, the Bend Venture Conference has moved into a new league and it’s showing in the quality of the applicants,” said Jason Moyer, Fund Manager for the 2015 BVC LLC. “All five Growth Stage finalists were investable, and all five received funding.”
“We managed to set a record for investments made through the BVC LLC this year, with $350K being invested, after expenses,” said Brian Vierra, Venture Catalyst for EDCO. “This was particularly noteworthy given that Cascade Angels, which invested through the LLC last year, made their investment directly in a company this year, and it was not represented by the LLC.”
Here is the breakdown of the $947,500 tally:
Investments
BVC LLC (OCF, OGA, MMT, individual units) – Perfect Company and Odysys: $372,500
Cascade Angels – Scratch-it: $125,000
Seven Peaks Ventures – Scratch-it: $100,000
Credo Investments – Scratch-it: $50,000
Side Deals – Honeycomb, Nemametrix, Scratch-it, Perfect Company: $215,000
Grants
BendBroadband Business Early Stage Cash Prize – SnoPlanks: $15,000
Bend Outdoor Worx – Robert Axle Project: $10,000
Other Awards/In Kind
Mandala Firestarter Marketing Program Award – Perfect Company: $50,000
McDonald Group HR Services Package – Odysys: $10,000
About the Bend Venture Conference
The Bend Venture Conference (BVC) is divided into two categories that consist of Early Stage and Growth Stage companies vying for investment and cash prizes. Learn more about BVC at www.bendvc.edcoinfo.com.
About Economic Development for Central Oregon
Founded in 1981, Economic Development for Central Oregon (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. This is the sixth year EDCO has managed the Bend Venture Conference. Learn more about EDCO at www.edcoinfo.com.
