|Good day. Cortado Ventures, an Oklahoma City-based venture firm that quickly secured $20 million for its debut venture fund in 2020, is making headway toward an $80 million second fund it plans to invest in life sciences and other technology startups.
Cortado launched in early 2020 and doubled the $10 million goal it set for its debut fund, according to Managing Partner Nathaniel Harding, who previously was president of energy exploration and production company Antioch Energy. Cortado, which recently held a $20 million first closing on its second fund, aims to hold a second closing this summer, Mr. Harding said.
Cortado, which also invests in energy and logistics startups, seeks to use its location to its advantage. It finds that valuations are lower than in more-competitive areas such as Boston or Silicon Valley, General Partner Mike Moradi said.
Cortado’s life-sciences investments include Recuro Health, a digital-health startup led by Michael Gorton, the former chief executive of telehealth company Teladoc Health. Cortado has a network of executives who invested in its funds and who can help Cortado source and evaluate deals, Mr. Harding said.
For its larger second fund, Cortado expects that about half the investors in the vehicle will be individuals and the rest institutional investors, Mr. Moradi said.