Melissa Freeman
Oregon Community Foundation (OCF) is the state’s largest charitable foundation. Celebrating its 50th anniversary this year, OCF is a true Oregon success story - beginning in 1973 with a $63,000 donation and growing to over $3B in AUM now. While OCF is best known as the state’s largest grant maker, supporting thousands of nonprofits, and carefully stewarding the philanthropic resources for over 2,000 individual, family, and corporate funds, OCF is also a meaningful investor in Oregon’s innovation economy.
Since 2012, OCF has been an investor in Oregon Venture Fund. The OCF Board of Directors carved out a portion of the foundation’s endowment to invest in Oregon-based early-stage venture capital funds as part of its initiative to improve Oregon’s economy in response to the 2008 recession. OVF was well positioned to grow and our collaborative model involving over 180 venture partners was attractive to OCF, as they also rely on over 1700 volunteers to help them do their work.
In addition, OCF provides a way for OVF to easily allow successful founders to give back to the community. OVF set up the OVF Community Giving Fund at OCF in 2018. To date, the fund has granted $5,500 to the community and has grown to approximately $80,000 in value.
As we raise $50M for our five-year OVF XV Fund, we are grateful for OCF’s long-standing partnership and $3M commitment. OCF is demonstrating how to use multiple tools (grants, loans, and equity investments) to achieve their mission. We are hopeful more foundations, family offices, and university endowments will see how our missions align and do the same. To OCF’s Board of Directors, donors, volunteers and staff, congratulations on your 50 years of service, investment, and impact in Oregon. Together, let’s continue to make an exponential impact for years to come!
Do you know someone who serves on a local foundation board? Please encourage them to learn more about Oregon Venture Fund by contacting Melissa Freeman, Melissa@OregonVentureFund.com, OVF Director of Capital Raising and Investor Relations.