Oklahoma entrepreneurs are finding more options in their search for capital. The most recent example, Altheus Therapeutics, of Oklahoma City, gained $3.6 million from three venture capital funds.
St Louis-based Prolog Ventures led the round. The firm specializes in early-stage life science companies. Recruited to the state by the Oklahoma Capital Investment Board, Prolog has worked since 2005 to mine the fruits of Oklahoma’s research universities.
Prolog was joined by Oklahoma Equity Partners, of Tulsa.
Rounding out the team was the Oklahoma Seed Capital Fund. Launched just this year, OSCF seeks entrepreneurs forming new companies, primarily those commercializing new technologies from Oklahoma universities. OSCF was capitalized by the Oklahoma Center for the Advancement of Science and Technology, the Oklahoma Development Finance Authority, and OCIB.
These three funds are among the nineteen funds capitalized by OCIB since 1993, and among the nine venture funds that have made seed to early-stage investments in the state.
OCIB was founded in 1992 to help build the private venture capital industry that serves Oklahoma entrepreneurs. At that time the state had only two local venture funds. Today there are more than fifteen, and at least that many more with a regular focus in the state. “By building the number and variety of local venture capital firms we can help ensure that entrepreneurs have an abundance of options,” said OCIB President Devon Sauzek.
OCIB is a state entity created in 1992 to support Oklahoma entrepreneurs by building the private venture capital industry in the state.