FOR IMMEDIATE RELEASE
May 18, 2023
Contact: Meridith Tucker
Cortado Ventures Secures $20 Million Investment from OCAST
OKLAHOMA CITY — Cortado Ventures announced today that it has received a substantial investment of $20 million of U.S. Treasury’s SSBCI funds from the Oklahoma Center for the Advancement of Science and Technology (OCAST) for Cortado’s Fund II. The investment is the largest that OCAST has committed thus far, and brings the firm’s assets under management (AUM) to $100 million.
“We are thrilled and honored to have been awarded this investment from OCAST,” said Nathaniel Harding, Managing Partner of Cortado Ventures. “The work we do at Cortado aligns perfectly with that of OCAST as we aim not only to provide unparalleled opportunities for our portfolio companies, but also invest in Oklahoma as an emerging hub for tech innovation. We look forward to continuing to partner with OCAST to bring greater value and strength to Oklahoma’s entrepreneurial ecosystem.”
A leading innovator in the Midcontinent venture capital industry, Cortado Ventures has consistently identified and fueled innovative startups while reshaping the narrative of the entrepreneurial landscape through the lens of the Midcontinent region of the United States. The investment from OCAST will expand upon the firm’s investments in early-stage tech companies from the energy, logistics, life sciences and future of work sectors that are based in or have strong ties to Oklahoma and the Midcontinent region.
Additionally, Cortado Ventures recently partnered with the Oklahoma Farm Bureau, among other partners, to launch the Oklahoma Grassroots Rural and Ag Business Accelerators, an economic development initiative aiming to stimulate innovation across rural Oklahoma. OCAST’s investment in Cortado will further promote the Cultivate Oklahoma pipeline, a program for Oklahoma farmers focused on emerging agricultural technologies.
“OCAST’s mission is to foster innovation by investing in the firms and businesses that are leading the charge to make meaningful contributions to Oklahoma’s expanding and diversifying economy,” said Jennifer McGrail, Executive Director of OCAST. “This substantial investment into Cortado supports our focus on investing in Oklahoma startups and leveling up tech leaders who will drive this innovation and economic growth in our state. By partnering with Cortado, we aim to promote collaboration, empower entrepreneurs, and create a thriving ecosystem for Oklahoma.”
About Cortado Ventures
Cortado Ventures is an early-stage venture capital firm that invests in ambitious, growth-driven companies, backing a new generation of economic prosperity for Oklahoma and 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. For more information, visit cortado.ventures.