Cortado Ventures Reaches First Close of Fund II
First $20M committed in under 6 weeks
Oklahoma City, Oklahoma – May 11, 2022 – In less than two months, venture capital firm Cortado Ventures raised the first $20 million of its $80 million seed Fund II, indicating a strong appetite for investment in innovative and solutions-driven technology in Oklahoma and the immediate region.
“The Midcontinent region has long been overlooked and undervalued, but we are starting to see real interest in finding and funding new technologies that will revolutionize industries and create intrinsic value and change,” said Nathaniel Harding, Managing Partner, Cortado Ventures. “We are seeing enterprise companies with high growth potential forming in – and migrating to – the region. Fintech, aerospace, life sciences, energy technology, future of work, and logistics are all sectors that we are looking at to help diversify the economy and modernize legacy industries.”
Cortado’s first seed fund, which closed in 2021 and raised $20 million, has invested in more than 20 companies, most based in or with strong ties to Oklahoma. Fifty percent of their 2021 investments were in women, BIPOC and immigrant-led startups. These companies have created at least 66 new technology jobs in the state and $350 million in enterprise value.
In Fund I, Cortado has invested in B2B and SaaS tech solving real-world problems, like Recuro Health, Volt and Boddle Learning, all companies which have seen incredible growth. The majority of Cortado’s portfolio companies have seen increased valuations – double the industry average.
“Over the last several years, there has been a big uptick in investment interest within our region, and we’re watching in real time as venture capital truly diversifies Oklahoma’s economy,” said Chad Warmington, President and CEO, Oklahoma State Chamber of Commerce. “This is an exciting time and Cortado’s Fund II is aiming to be one of the largest in state history – and that is fantastic news for Oklahoma businesses and entrepreneurs.”
Cortado Ventures is an early-stage venture capital firm that invests in ambitious, growth-driven companies to define a new generation of economic prosperity for the Midcontinent region. As one of the largest VC funds in Oklahoma, Cortado’s focus is on tech companies bringing innovative solutions to the energy, logistics, life sciences, aerospace and the future of work sectors.