Aligning investments with charitable purpose: Place-based fund selects OVF
December 2023
Melissa Freeman
Oregon attracts and retains individuals and families who develop a deep passion for this place. The beauty of our rivers, waterfalls, ocean, forests, high desert, and fertile valleys inspires us to care for the land, care for the people, and find ways to live sustainably to protect this great place. Oregon is fortunate to have a growing group of philanthropists and family foundations that refer to themselves as place-based investors. They intentionally focus and restrict the geography of their investing and charitable giving to support the communities and ecology in the greater Oregon region.
Often referred to as a place-based fund, Oregon Venture Fund is first and foremost a performance driven venture capital fund seeking superior returns for our investors. However, in serving our mission to convene and unleash our region’s talent and capital to build the next generation of world-class growth companies again and again, our positive impact on both society and the environment is created. We intentionally restrict our investments to companies that have a presence in Oregon and Southern Washington as we believe it gives us a competitive advantage. Through our relationships and early-stage investments, we take pride in the jobs created and the wealth being generated and then reinvested locally.
This year, we made new connections with place-based philanthropies and institutions dedicated to this region’s success. Conversations about our values and goals for this region led to strategic partnerships that are poised to expand knowledge, increase local investment, and drive positive change.
For example, we are excited to work with the Lora and Martin Kelley Family Foundation as a new investor. The Foundation has been a leader in supporting investments in early childhood education, sustainable forestry, and food systems in Oregon since its formation in 1990. Over the past 33 years, the Trustees have developed deep connections with rural and urban community leaders who are innovating in these fields daily. We appreciate the opportunity to have insight into the innovation occurring in sustainable forestry or resilient food systems, for example, because of the grants Kelley Family Foundation has provided to organizations such as Sustainable NW, Rogue Farm Corps, Ecotrust, and Wallowa Resources.
The Foundation is also committed to aligning its investments with its charitable purpose. At the end of 2022, 99% of the endowment’s investments had aligned impact. Oregon Venture Fund invests in amazing teams who are trying to solve tough problems that will make the world a better place if they are successful. Our portfolio includes companies such as Wayfinder and Lumen Learning that improve social and emotional well-being and education for underserved students. OVF provides a natural vehicle for Kelley Family Foundation to invest locally and strategically, with strong alignment to their mission and purpose.
The Kelley Family Foundation is invested in the OVF XV Fund which has a 15-year life. We look forward to strengthening this relationship over time and learning about the good work they are supporting, with grants, loans, and investments to improve lives and the land across the region.
Submitted by Melissa Freeman, 12/6/2023, Melissa@OregonVentureFund.com