[ad_1]
A venture capital firm has reached $80 million in seed funding for various companies, including at least three in Tulsa, it recently announced.
Oklahoma City-based Cortado Ventures launched its second fund last year with the intent of bringing innovation and ingenuity to energy, logistics and life sciences.
This funding close will bring Cortado’s total assets under management to more than $110 million in less than three years, making it one of the largest in the region and the largest venture capital firm of its kind in Oklahoma.
Tulsa companies benefiting include Payfactory, PatchRX and nSight.
“Cortado Ventures’ Fund II is four-times larger than our Fund I, which reflects a maturing startup ecosystem and the solidification of Oklahoma,” said Nathaniel Harding, Cortado Ventures managing partner.
People are also reading…
“We launched the firm to build next generation companies that will bring future-ready technology jobs to the region. There has been high interest in both Fund I and II creating a momentum that has captured the attention of many throughout Oklahoma … and beyond.”
Cortado Ventures is an early-stage venture capital firm that invests in ambitious, growth-driven companies in Oklahoma, Texas, Arkansas, Missouri, Colorado, Kansas and New Mexico.
It has invested in nine new companies from Fund II with a goal of 30.
“Over the last three years there has been an explosion of companies and others working with startups,” Harding said. “We like to invest in startups that have solutions for other businesses.”
Nearly 100 partners have made investments in Cortado, including the Southwestern Oklahoma State University Foundation, WatersEdge Foundation, Presbyterian Health Foundation and Citizens Bank of Edmond.
Recently, Cortado’s Fund II has invested in companies with Oklahoma and regional bases or strong ties, including Moat Biotechnology, which is developing nasal and oral vaccines for a number of infectious diseases, including SARS-Cov2; NUVIEW, revolutionizing the Earth observation industry by building the first commercial satellites designed to map the planet’s entire land surface with LiDAR; PayFactory, whose technology provides infrastructure enabling software companies to become payment facilitators; Lumata Health, a technology-driven company focused on preventing blindness from chronic eye conditions; and Motive, creating an all-in-one automotive retail experience.
Cortado’s Fund I, which closed in 2021 and raised $20 million, has invested in 28 companies to date, culminating in more than $700 million total enterprise value and creating more than 100 high-paying technology jobs.
“Cortado’s closing of Fund II is a game-changer for Oklahoma. It demonstrates continued confidence in Cortado’s investment abilities and excitement about Oklahoma’s expanding technology ecosystem. This is the type of success our state can build on,” said Sean Kouplen, chairman and CEO of Regent Bank and former Oklahoma secretary of commerce and workforce development.
[ad_2]
Source link