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Elevate Capital is a venture capital firm founded in 2016 and based in Hillsboro, Oregon. It is recognized as the nation’s first institutional venture capital fund that specifically targets investments in underserved entrepreneurs, including women, ethnic minorities, and veterans. The firm aims to provide both venture capital and mentorship to help these entrepreneurs develop their startups into successful companies.
As of now, Elevate Capital manages a total of $40 million across multiple funds, including the Inclusive Fund and Investment Fund II. The firm has a team of experienced professionals dedicated to supporting early-stage startups, particularly those founded by underrepresented minority founders. Elevate Capital has established strong partnerships with state government and local organizations to enhance its impact on the startup ecosystem.
Notable milestones include the launch of its second fund, which aims to expand its mission of inclusive investing, and a recent $1.6 million investment in five Oregon startups, showcasing its commitment to local innovation.
Elevate Capital invests primarily in early-stage startups through several specialized funds. The firm focuses on sectors such as healthcare and technology, with a strong emphasis on supporting underrepresented minority founders, including women, BIPOC, LGBTQ+, and veterans. The investment stages range from pre-seed to Series A, with check sizes varying from $25,000 to $2 million.
The firm operates multiple investment vehicles: the Inclusive Fund targets women and minority-founded startups in the Portland Metro region, with investments ranging from $25,000 to $100,000. Investment Fund II invests nationally in scalable startups, primarily in technology and healthcare, with check sizes between $100,000 and $2 million. Additionally, the Innovation Gap Fund focuses on key industries such as bioscience and cleantech, while the SSBCI Venture Direct program aims to strengthen Oregon’s startup ecosystem through state-backed venture capital.
Elevate Capital has invested in a variety of notable companies, including:
These investments reflect Elevate Capital's commitment to supporting diverse founders and addressing gaps in the startup ecosystem.
Nitin Rai - Founder & Managing Partner. Nitin has extensive experience in venture capital and has led numerous investments in early-stage startups. He is committed to supporting underrepresented entrepreneurs.
Kumar Sripadam - General Partner. Kumar brings a wealth of experience in technology investments and has a strong background in supporting diverse founders.
Ben Nahir, PhD - Partner. Ben has a deep understanding of healthcare and technology sectors, having led several successful investments in these areas.
Brandon Ross - Senior Associate-Analyst. Brandon focuses on analyzing investment opportunities and supporting portfolio companies.
Allie Persitz - Operating Partner. Allie provides operational support and mentorship to portfolio companies, helping them scale effectively.
Anu Shukla - Venture Partner. Anu has a strong background in technology and entrepreneurship, contributing valuable insights to the firm’s investment strategy.
To pitch Elevate Capital, founders should use the preferred channel available on their website at elevate.vc/contact. It is important to include a comprehensive deck that outlines the business model, market opportunity, and team background. The firm typically responds within a few weeks, and warm introductions are encouraged but not mandatory.
Elevate Capital runs several programs aimed at supporting early-stage startups. The Innovation Gap Fund focuses on disruptive science and research-based innovation, providing funding to startups in key industries such as bioscience and cleantech.
The SSBCI Venture Direct program aims to strengthen Oregon’s startup ecosystem through state-backed venture capital, offering additional resources and support to local entrepreneurs.
In March 2025, Elevate Capital announced a $1.6 million investment in five Oregon startups through a state-backed venture program, highlighting its ongoing commitment to supporting local innovation.
In 2024, the firm launched its second fund, Investment Fund II, with a target size of $40 million, aimed at expanding its mission of inclusive investing.
Elevate Capital has been active in sharing insights through its blog, discussing its impact over the past decade and providing advice for Black entrepreneurs.
What are Elevate Capital's investment criteria?
Elevate Capital primarily invests in early-stage startups founded by underrepresented minority entrepreneurs, including women, BIPOC, LGBTQ+, and veterans. The firm focuses on sectors such as healthcare and technology, with investments ranging from $25,000 to $2 million.
How can I apply or pitch to Elevate Capital?
Founders can apply for funding through the Elevate Capital website at elevate.vc/contact or by emailing info@elevate.vc. It is recommended to provide a clear overview of the business model, market opportunity, and how the startup aligns with Elevate's mission.
What makes Elevate Capital different from other VC firms?
Elevate Capital is recognized as the first institutional venture capital fund specifically targeting underserved entrepreneurs. The firm not only provides capital but also offers mentorship and support to help founders navigate the challenges of building successful companies.
What is Elevate Capital's geographic scope?
While Elevate Capital is based in Hillsboro, Oregon, it invests nationally across the United States, particularly focusing on startups founded by underrepresented entrepreneurs.
What is the fund size and check size range?
Elevate Capital manages a total of $40 million across its funds, with check sizes ranging from $25,000 to $2 million depending on the fund and stage of investment.
What kind of post-investment involvement does Elevate Capital have?
Elevate Capital provides ongoing mentorship and support to its portfolio companies, helping them navigate challenges and scale their businesses effectively.
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