Elevate Capital Announces $1.6M Invested in Oregon Startups Through State-Backed Venture Program

Elevate Capital announced continued momentum across its Oregon investment strategy, with $1.6 million deployed into five Oregon-based startups through a state-backed venture capital initiative.

“We launched this program with the shared goal of expanding access to early-stage capital for Oregon entrepreneurs,” said Nitin Rai, Elevate Capital Founder.

The investments reflect Elevate’s ongoing commitment to backing high-potential founders, expanding access to early-stage capital, and supporting long-term economic growth across Oregon. The capital was deployed through Oregon’s Venture Direct program, supported by the federal State Small Business Credit Initiative (SSBCI).

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Since receiving the fund’s first tranche of capital, Elevate has completed investments in:

• Overwatch Imaging – $500,000
• CleanHaus – $250,000
• PortalSphere – $250,000
• StrateSea – $350,000
• Osheru – $250,000

“From day one, Elevate understood what we’re building and the challenges founders face at this stage. Their hands-on approach and long-term perspective made a meaningful difference for CleanHaus,” said Nat Parker, founder of CleanHaus.

All investments were selected through Elevate’s rigorous diligence process and supported by matching private capital at the time of investment, ensuring strong market validation and long-term scalability.

“We launched this program with the shared goal of expanding access to early-stage capital for Oregon entrepreneurs,” said Nitin Rai, Elevate Capital Founder. “These first investments demonstrate the quality of emerging companies in Oregon and the catalytic power of pairing public capital with private investment.”

Elevate was selected by Business Oregon to manage the venture capital component of SSBCI based on its strong performance managing the state’s Innovation Gap Funds I & II, deep roots in Oregon’s entrepreneurial ecosystem, and commitment to supporting diverse and underserved founders.

“Deploying capital into early-stage companies is already strengthening Oregon’s innovation ecosystem,” said Ben Nahir, Venture Principal at Elevate Capital.  “We’re excited to see Elevate supporting new founders with the resources and guidance needed to scale.”