By Oregon Small Business Association Foundation
Higher interest rates in the third quarter of 2023 have slowed investment by out-of-state venture capitalists in Portland area start-up companies, which spent $79.6 million in the Portland-Vancouver metropolitan area according to Portland Inno.
That represents a precipitous drop from the $207.2 million invested by venture capitalists during the third quarter last year and $446 they spent in 2021.
Altogether this year, investors spent $360.2 million to support local startup companies, only 40 percent of what they contributed by the third quarter of 2022, paralleling a similar drop nationwide.
Founder Eric Rosenfeld of Oregon Venture Fund, which continues to invest in Oregon and Southwest Washington companies, attributed the decline in outside venture capital investment to rising interest rates.
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