The Venture Codex Logo

The Venture Codex

Portland Seed Fund

805 SW Broadway, Suite 2440, Portland, Oregon, 97205, United States

Overview

The Portland Seed Fund invest in pre-seed and seed-stage companies across the Pacific Northwest. The majority of investments are in Oregon, with 10-20% of investments in other parts of the Northwest. Typical initial investment size of $50,000-$100,000 with participation in multiple follow on rounds. Sector agnostic - the largest sector is B2B software / SaaS with investments in data center infrastructure, AR/VR, health care IT, direct-to-consumer, e-commerce, mobile, cleantech, food, and apparel. 10-20 investments per year. Now investing out of third fund with more than $20 million AUM. Since 20011 PSF has invested $8 million in more than 90 companies who have gone on to raise more than $370 million from other sources. More than half of PSF companies have a female or person of color on the founding team, and more than a third have a female CEO.

Total investments
44
Lead investments
5
Investments · 12mo
2
Active investors
7

Sector focus

  • Finance
  • Financial Services
  • Venture Capital
Visit website

Investment portfolio

  • Panthalassa

    Participated · Series B · May 2026

    Panthalassa builds self-propelled, autonomous floating nodes that capture wave energy to generate continuous clean electricity and run AI inference computing onboard, transmitting results to land via low-Earth-orbit satellites. The company has spent about a decade developing its power generation, propulsion, autonomy, and at-sea computing technologies and demonstrated capabilities with Ocean-1, Ocean-2, and Wavehopper prototypes in 2021 and 2024. Panthalassa plans to deploy its Ocean-3 pilot node series in the northern Pacific in 2026 to demonstrate AI inference at sea and to refine manufacturing ahead of commercial deployments in 2027. The platform uses the ocean for free supercooling to extend chip lifetimes and avoids transmitting power to shore by performing computing onboard. The company is a public benefit corporation headquartered in Portland, Oregon, and recently raised $140 million in a Series B to complete a pilot manufacturing facility and accelerate initial deployments.

  • GetWhys

    Participated · Equity · Apr 2026

    GetWhys provides a platform that treats buyer research and go-to-market (GTM) work as a single motion, grounding GTM decisions, messaging, and customer conversations in verified buyer intelligence. Its product is built on a proprietary database of in-depth B2B buyer interviews and a data foundation that compounds with each contributing customer. The company serves product marketing and GTM teams at mid-market and enterprise B2B companies and counts customers such as Intel, Verizon, and CDW. Over the past year GetWhys doubled headcount to 16, grew revenue more than 10x, and expanded its customer base more than 20x. The recent funding will support accelerating go-to-market efforts, continued product development, and advancement of its proprietary dataset. GetWhys is headquartered in Boise, Idaho, with offices in Portland, OR, New York, NY, and Bozeman, MT.

  • Backpack Healthcare

    Participated · Series A · May 2024

    Backpack Healthcare (formerly Youme Healthcare) operates an online pediatric mental-health platform that combines an AI-powered emotion-monitoring app with live teletherapy delivered by licensed clinicians. The company’s algorithms assess mood signals and automatically match young users to therapists who specialize in their needs, creating individualized treatment plans. Beyond one-on-one pediatric sessions, Backpack offers family therapy, medication management, and live parent-training webinars covering topics such as cyberbullying and substance abuse. Interactive digital tools and gamified activities are used to keep children engaged and encourage consistent participation in care. With its newly secured capital, management plans to enhance the technology stack, broaden geographic reach, and deepen its teletherapy service portfolio. Equity and inclusion remain a stated priority, underscored by the addition of Robert Johnson, ESQ, to the advisory board to guide inclusive growth initiatives.

  • InVivo Biosystems

    Participated · Equity · Jan 2024

    InVivo Biosystems provides CRISPR genome editing and end-to-end preclinical services, creating custom genome-edited C. elegans and zebrafish models and delivering in-vivo analytical data to support early-stage drug development. The company leverages extensive intellectual property in genetically modified organisms to accelerate target identification and compound screening with rapid turnaround and affordability. In January 2024 it announced a $3M new investment to advance commercialization of its CRISPR capabilities. Recent technology validation includes new patents, an exclusive license (MIC-Drop) from the University of Utah for a high-throughput CRISPR microfluidic approach, and an NIH Fast-Track SBIR award. The NIH grant — $2.8M — will fund development of an AI-based automated zebrafish monitoring system to enable automated deep phenotyping. The appointment of C. Palani Palaniappan, Ph.D., as board chairman was announced alongside the financing to support commercialization and corporate strategy in 2024.

  • Digs

    Participated · Seed · Feb 2023

    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.

Team