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

PORTLAND, Ore., Jan. 12, 2026 /PRNewswire/ -- 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.

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).

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."

About the Program
The SSBCI Venture Direct Program provides federally funded, state-managed capital designed to stimulate economic growth. Companies must be headquartered in Oregon, have a majority of employees in Oregon, or maintain a principal Oregon business location.

How to Apply
Oregon-based founders seeking early-stage funding can apply through Elevate's website at elevate.vc.

About Elevate Capital
Founded in 2016, Elevate Capital is the nation's first institutional venture capital fund primarily targeting investments in underestimated founders and those with limited regional access to capital and opportunities. Through the SSBCI and Innovation Gap Funds, Elevate also supports high-risk research-driven innovation in Oregon by investing at the earliest stages in startups from healthcare, life sciences, cleantech, sustainability, and other target-traded sector industries.

Visit elevate.vc or follow Elevate Capital on X, Facebook and LinkedIn.

SOURCE Elevate Capital