PORTLAND, Ore., Sept. 25, 2019 /PRNewswire/ -- Elevate Capital, Oregon's first venture capital fund that supports inclusion and diversity by targeting entrepreneur investments in women and minorities (including people of color), today named Nat Parker as its new Entrepreneur-in-Residence (EIR).
Parker, a successful entrepreneur and CEO who ran local urban mobility startup GlobeSherpa, then moovel North America after GlobeSherpa's acquisition by Daimler AG, will work to incubate and start his next venture as part of the position. As EIR, he will also serve as a mentor and coach to other entrepreneurs in the Elevate Capital portfolio.
Nitin Rai, Founder and Managing Director of Elevate Capital, served as a mentor, investor, and Board member for Parker when he operated GlobeSherpa.
"Nat is an incredible entrepreneur who combines a high level of passion and drive with the ability to learn quickly and motivate teams around difficult tasks," said Rai. "We are proud to support him in his next company and excited to see what he comes up with next."
Of this appointment as EIR, Parker said: "Elevate Capital has created a new model of venture financing that sees strength in diverse teams behind high-growth ideas. I am very excited to join the team and work with existing CEOs in the portfolio as well as incubate my next startup over the next year."
Parker, who stepped down as CEO of moovel North America in July 2019, grew the company to 150 employees—serving over 6 million customers with mobile payment solutions for public transit and other forms of shared-use mobility. Parker will be based in Berlin, Germany for the next year, but he will be a regular visitor to Portland, Oregon.
About Elevate Capital
Elevate Capital is a Pacific Northwest-based venture capital firm that invests in early-stage underrepresented entrepreneurs, including women, and minorities that include communities of color, veterans, and entrepreneurs located in underserved areas. Elevate Capital makes these through two funds, the Elevate Capital Fund and the Elevate Inclusive Fund. Since 2016, Elevate Capital has invested more than $7.5 million in 36 diverse startups in the Pacific Northwest. For more information, visit elevate.vc or follow Elevate Capital on Twitter, Facebook and LinkedIn.
SOURCE Elevate Capital