Elevate

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Overview

Elevate Capital is a venture capital firm based in Portland, Oregon, that invests in early-stage startups, with a focus on those founded by women, minorities, veterans, and underserved entrepreneurs.¹³⁴ It manages the Elevate Capital Fund and the Elevate Inclusion Fund, providing seed capital and mentorship primarily in the Portland metro region.¹⁴

History

Elevate Capital was founded in January 2016 by Nitin Rai, who serves as Managing Director and Managing Partner.¹³ In the same month, it was selected by the Portland Development Council (now Prosper Portland) to manage a publicly financed investment fund aimed at improving diversity in Oregon startups.¹ Key milestones include its first investments in August 2016 in six startups such as Blendoor, Goumikids, RFPIO, and others; an early exit in 2018 from RFPIO's $25 million funding round; and hosting the Elevate Inclusion Summit in October 2018.¹

Notable Products

Elevate Capital Fund - General early-stage investment fund targeting startups in the Portland region.
Elevate Inclusion Fund - Investment vehicle focused on startups founded by women, minorities, and veterans.
Seed Capital Funding - Early-stage funding provided to underserved entrepreneurs with mentorship.

Reputation

Elevate Capital is recognized as the first institutional VC fund targeting underrepresented founders, earning praise for promoting diversity in venture capital.³⁴ Professionals note its successful exits, including four to date with significant returns from RFPIO.⁵ It maintains a strong local presence in Portland through events like the Inclusion Summit.¹

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