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The Venture Codex

Oregon Venture Fund

760 SW 9th Ave Suite 2380, Portland, Oregon, 97205, United States

Overview

Founded in 2007, the Oregon Venture Fund is the largest and most active venture fund focused on supporting startups and growth companies with a presence in Oregon and SW Washington. The fund has invested over $120 million and is backed by the leaders of Oregon’s business, technology, and entrepreneurial communities. Consistently one of the top performing venture funds in North America, OVF invests $15 million annually in the most promising startups and growth companies in Oregon and SW Washington. Over 4,200 jobs have been created by the 75 companies in the portfolio. OVF’s largest investors include the State of Oregon, Oregon Community Foundation, and Meyer Memorial Trust. OVF invests $500K to $3M per round and can allocate up to $10M for each portfolio company. The fund is stage and sector agnostic.

Total investments
54
Lead investments
24
Investments · 12mo
3
Active investors
8

Sector focus

  • Finance
  • Financial Services
  • Venture Capital
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Investment portfolio

  • AiStrike

    Participated · Seed · Jan 2026

    AiStrike is a San Francisco–based cybersecurity company that has built an end-to-end, AI-native platform designed to deliver preemptive cyber defense rather than traditional reactive security operations. Its agentic AI unifies threat intelligence, exposure analysis, detection engineering, investigation, and response, connecting directly to alert sources and edge systems without relying on centralized SIEM architectures. The platform is offered as “Agentic Cyber Defense as a Service,” allowing customers to focus on security outcomes while AiStrike continuously tunes and optimizes autonomous defense agents. In production across global enterprises and government organizations, the system has executed over 5 million investigations in the past year, yielding 90 % fewer false positives, 40 % broader detection coverage, and cutting investigation times from hours to minutes while halving security-operations costs. AiStrike plans to use its new capital to scale this agentic AI platform and further establish preemptive cyber defense as the operating model for modern security teams. By eliminating fragmented tooling and MDR overhead, the company aims to help organizations stay ahead of increasingly AI-driven threats. Financial details beyond the recent seed round have not been disclosed.

  • Digs

    Participated · Series A · Nov 2025

    Digs has built a cloud-based platform that converts static blueprints into interactive 3D models and digital twins, allowing builders, trade partners, and homeowners to collaborate in real time. Its AI can auto-generate 3D renderings, surface instant answers, and now powers DigsCare, a warranty tool that reduces post-build service costs. Nearly 10,000 homes have already been uploaded, and recent customer additions account for over $12 billion in annual home construction value. The company positions itself as a foundational “Homefax” record for the life of a house, extending engagement beyond the build phase. Headquartered near Portland, Oregon, Digs has raised almost $20 million in pre-Series A capital to date. The latest funds will accelerate AI feature development, fuel go-to-market hiring, and deepen penetration with both custom and national production builders. Recent accolades include recognition in Fast Company's Innovation by Design Awards and Inc.’s Power Partner list.

  • Mueon

    Participated · Seed · Sep 2025

    Mueon is re-architecting data-center infrastructure with Cubelets™, stackable modules that integrate compute, memory, power delivery, and thermal management into a single building block. The company claims the architecture delivers up to 10× gains in density, energy savings, and deployment speed while remaining compatible with existing AI and cloud software stacks. By replacing traditional rack-based systems, Cubelets™ aim to cut capital expenditure, reduce cooling and power requirements, and enable AI clusters to scale linearly with demand. Headquartered in Portland, Oregon, Mueon is working with fabrication, manufacturing, and foundry partners to validate its design and bring products to market. Early collaborators include d-Matrix and UCLA CHIPS, which are testing the technology for low-latency AI workloads. The $15.5 million seed round provides the financial runway for prototype development, system scaling, and key engineering hires. While the company is still pre-commercial, it targets the rapidly growing market for AI inference and training constrained by today’s power-hungry data centers.

  • Conveyor

    Participated · Series B · Jun 2025

    Conveyor builds an AI agent that automates vendor security reviews and fills RFPs to speed up customer approvals and sales processes. The company was founded in 2021 by Chas Ballew after he left Aptible and powerfully leverages large language models introduced after ChatGPT. Conveyor says its AI can autonomously and accurately complete over 90% of customer security questions, saving customers many hours. Its product is deployed in production at companies including Zendesk, Atlassian, Qualtrics, Workday, Netflix, Zapier and over 400 other customers. The startup has expanded from security-question automation into AI-powered RFP automation to attract customers outside the technology sector. Conveyor emphasizes strict data isolation and security guardrails to ensure confidential customer data isn’t exposed or mixed across customers. Conveyor builds a platform that uses large language models (including OpenAI models) to generate and fill answers to vendor security questionnaires, automating manual security-review workflows. It offers a self-service portal to share security documents and an LLM-powered question-answering product that understands questionnaire structures (spreadsheets and online portals) and exports results in the original format. The system draws on vendor-specific knowledge databases to produce human-like answers and can optionally sync engagement data with Salesforce. Conveyor began as an experimental product inside Aptible and was spun out beginning in 2021 by founder Chas Ballew. The company has about a 15-person team, serves over 100 companies, and has been used to fill more than 20,000 security questionnaires. Management says proceeds will fund expanded sales and marketing, R&D, and team growth, and the product flags low-confidence answers for human review to maintain quality.

  • Hydrolix

    Participated · Series C · Apr 2025

    Hydrolix builds a streaming data lake platform that combines stream processing, decoupled storage, high-density compression and indexed search to enable real-time queries on large volumes of log data. The platform targets log-intensive use cases including security, observability, content delivery, adtech, AI/ML and regulatory compliance. Hydrolix has leaned into channel partnerships—notably a white‑label TrafficPeak offering with Akamai—and added AWS as a go-to-market partner while building connectors for ecosystems like Splunk, Databricks and Kibana. The company says it added 400+ customers in the past year, posted an eightfold sales increase year-over-year, and now earns more than 40% of revenue from international customers. Future plans for the funding include extending availability to additional cloud platforms, expanding the types and sources of data ingested, and amplifying sales momentum through regional partners and vertical expertise. Hydrolix builds a streaming data lake platform that provides a repository for log data and delivers that data to applications in real time. Its technology combines real-time stream processing, decoupled storage and low-latency indexed search to enable high-performance, cost-efficient log management. Hydrolix keeps all data “hot,” avoiding multiple storage tiers and claiming real-time query performance at terabyte scale. The platform powers log-intensive use cases across security, observability, AI/ML and sectors such as advertising, travel and retail, and can run on customers’ cloud infrastructure or as a partner data layer. Hydrolix reported annual recurring revenue of roughly $6 million, doubled revenue from Q3 to Q4 2023 and grew another 75% in Q1 2024; it serves about 90 customers and has a Portland, Oregon–based workforce of around 60. The company plans to scale its sales and partner channel operations as well as marketing and customer onboarding following the new funding. Hydrolix provides a real-time data platform designed to store and query logs, traces and metrics at much lower cost. It uses a custom storage layer that delivers SSD-like performance using cloud object storage and diskless spot instances, enabling fully indexed search without caching or bulk column scans. The architecture targets livestream ingest and ad-hoc data exploration workloads that traditional analytics systems struggle with. Hydrolix is currently compatible with AWS and offered through the Amazon Marketplace; versions for Azure and Google Cloud are expected later this year. The company was founded at the end of 2018, is headquartered in Portland, Oregon, and has about 20 employees spread across six countries. Investors and the company emphasize that the product eliminates common trade-offs between retention cost and query performance.

Team