12/02/2009 (9:47 pm)
State announces $5M investment in OHSU-connected fund
State Treasurer Ben Westlund on Tuesday announced a $5 million investment in Marquam Hill Capital.
The Beaverton firm is launching a venture capital fund that will help Portland-area businesses connect with researchers at Oregon Health & Science University. The money is expected to help launch medical-related startup businesses developing products for the prevention and treatment of cancer.
The $5 million investment was made through the Oregon Growth Account, which is managed by the state treasurer.
Created in 1995, the Growth Account invests a portion of Oregon Lottery money in Oregon businesses.
To date, the program has invested roughly $93 million of state money. As of March, it had generated $18 million in earnings.
The investment is contingent on the Marquam Hill Capital Fund raising an additional $20 million.
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