Craft3 Invests $25,000 in Cascade Angels 2015 Fund

By: Kelly Kearsley - Apr 08, 2015
Source: BendTech

Cascade Angels, the Bend-based angel fund now in its second year, announced this week that it received a $25,000 investment from Craft3 for its 2015 Fund. From the news release:

Craft3 is a Community Development Financial Institution (CDFI) lender founded in 1994. Over the past twenty years, Craft3 has invested over $322 million from offices in Ilwaco, Port Angeles, Seattle and Spokane, Wash., and Astoria, Bend and Portland, Ore. Craft3 provides loans to businesses that create or retain jobs, nonprofits that provide essential services to their communities, and municipalities and Tribal governments for community facilities and economic development efforts.

“We appreciate Craft3’s participation in this year’s Fund,” said Julie Harrelson, CEO of Harrelson Group, Fund Manager, Cascade Angels. “The work that Craft3 does to provide funding in the Pacific Northwest is consistent with the Fund’s focus on economic diversity, job creation, and a return for investors.”

The mission of Cascade Angels Fund is to create opportunities for investors and businesses in and with connections to Central Oregon to drive economic growth and fuel prosperity. The Fund currently has an application period open for launch stage companies.

“The availability of capital for businesses is a key to building community resilience,” said Turner Waskom, Craft3 Senior Business Lender based in Bend. “We are pleased to be making this investment to increase economic strength in Oregon.”

Cascade Angels Fund is sponsored by Bank of the Cascades, Jones & Roth, Karnopp Petersen LLP, and Harrelson Group. Last year’s fund topped $460,000 and made investments in Manzama, Droplr and Amplion, which are all headquartered in Bend, as well as Portland-based Poached Jobs.