Elevate Capital is a venture capital firm chosen by Business Oregon to manage the venture component of the federally funded State Small Business Credit Initiative (SSBCI). Through its new Venture Direct program, the firm channels public capital—paired with matching private investment—into promising early-stage companies headquartered or operating in Oregon. Elevate previously oversaw Oregon’s Innovation Gap Funds I & II and leverages deep ties to the local startup ecosystem to identify high-potential founders. Its mission centers on expanding access to capital for diverse and traditionally underserved entrepreneurs while strengthening the state’s innovation economy. In its first Venture Direct deployment, the firm invested $1.6 million across five startups: Overwatch Imaging, CleanHaus, PortalSphere, StrateSea, and Osheru. Individual check sizes ranged from $250,000 to $500,000. Founders can apply for future funding rounds directly through Elevate’s website, indicating an open pipeline for additional SSBCI-backed investments.

Total raised

$2M

Funding rounds

5

Latest round

Equity

Latest activity

Jan 2026