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1859 Ventures, conceived in 2019 by Josh Carter, initially targeted Oregon's startup ecosystem, emphasizing support for underrepresented founders. The name '1859' references the year Oregon achieved statehood. The original fund, which aimed for a $5 million target, faced significant challenges, including the COVID-19 pandemic, preventing it from proceeding as planned. Following these hurdles, the initiative has been relaunched as the Founders First Fund, expanding its geographic focus beyond Oregon to encompass the entire Pacific Northwest.
The Founders First Fund aims to invest in seed and early-stage companies across various sectors, including software, clean tech, deep tech, and AI/ML. This shift reflects a broader ambition to support innovation and entrepreneurship in the region. The firm is currently in the process of establishing its online presence and developing its investment strategy.
1859 Ventures, now operating as the Founders First Fund, focuses on early-stage innovation with a commitment to supporting underrepresented founders. The fund primarily invests in seed and early-stage companies, with check sizes ranging from $100,000 to $500,000. The geographic focus includes the Pacific Northwest, specifically Oregon, Washington, and Idaho.
Investment sectors include software, clean tech, deep tech, and artificial intelligence/machine learning. The firm seeks to identify and support startups that demonstrate potential for significant growth and innovation. While specific details regarding their investment thesis are still developing, the emphasis on underrepresented founders remains a core aspect of their strategy.
Josh Carter, Founder - Josh Carter has a background in venture capital and entrepreneurship, focusing on supporting underrepresented founders. He conceived 1859 Ventures to address gaps in funding for diverse entrepreneurs in Oregon.
As of now, there are no recent public activities or announcements from 1859 Ventures. The firm is in the process of establishing its online presence and developing its investment strategy.
What are the investment criteria for 1859 Ventures?
1859 Ventures focuses on early-stage startups, particularly those led by underrepresented founders in the Pacific Northwest. The firm invests in sectors such as software, clean tech, deep tech, and AI/ML.
How can founders apply or pitch to 1859 Ventures?
Currently, there is no publicly available information regarding a formal application process or pitch submission guidelines. Founders interested in engaging with the firm should consider reaching out through networking channels as the firm develops its online presence.
What makes 1859 Ventures different from other venture firms?
The firm emphasizes support for underrepresented founders, aiming to create opportunities for those who may face barriers in accessing capital. This focus on inclusivity sets it apart from many traditional venture capital firms.
What is the geographic scope of 1859 Ventures?
1859 Ventures primarily invests in the Pacific Northwest, covering Oregon, Washington, and Idaho. This regional focus allows the firm to tap into local innovation and support the startup ecosystem in these states.
What is the fund size and check size range for investments?
The original fund was targeted at $5 million, with check sizes ranging from $100,000 to $500,000 for individual investments in startups.
What type of post-investment involvement can founders expect?
Details regarding post-investment involvement are not currently available. However, as the firm establishes its presence, it may develop a framework for supporting portfolio companies.
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