OKLAHOMA CITY (MARCH 20, 2023) — Cortado Ventures announced today that it has begun the third close of Fund II, at $60 million of its $80 million seed Fund II. The Oklahoma City-based venture capital firm launched its second fund last year with the intent of bringing innovation and ingenuity to the region’s B2B tech landscape. This funding close will bring Cortado’s total assets under management to just under $100 million in less than three years.
Recently, Cortado’s Fund II has invested in companies like MoatBio, which is developing nasal and oral vaccines for a number of infectious diseases, including SARS-Cov2; PayFactory, whose technology provides infrastructure enabling software companies to become payment facilitators; Lumata Health, a technology-driven company focused on preventing blindness from chronic eye conditions; oPRO.ai, enhancing refinery and manufacturing process with artificial intelligence; and Motive, creating an all-in-one automotive retail experienced, all Oklahoma- and Midcontinent-based companies.
Cortado’s Fund I, which closed in 2021 and raised $20 million, has invested in 28 companies to date, culminating in more than $700 million total enterprise value and creating more than 100 high-paying technology jobs.
“This funding close reflects a maturing startup ecosystem within the state, along with an acceleration in entrepreneur support, leading to an increase in interest from investors outside of Oklahoma,” said Nathaniel Harding, Managing Director, Cortado Ventures. “Savvy investors are picking up on what Cortado has to offer in terms of realistic valuations and heavy due diligence in the midst of a bear market, providing increased security in a volatile economic landscape.”
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.