M artin L uther K ing J r .
January 13, 2016
Page 21
2016 special edition
a Lbina
M inisteriaL
a LLiance
Robin Jones Maloney (from left), Nitin Rai, Eric Boothe and Stephen Green are the managers behind
Elevate Capital, a public-financed investment fund aimed at improving diversity in Portland’s business
sector.
Capital for Business Sector Diversity
Firm to manage
fund backed
by local
governments
Portland has a new, public-fi-
nanced investment fund aimed to
improving diversity among busi-
ness startups, and is bringing on
a veteran entrepreneur to help
manage the project.
Nitin Rai, founder and
chief executive officer of First
Insight Corp., has been selected
with his company, Elevate Capi-
tal, to manage the new fund and
play a leading role in advocating
for a resurgent startup commu-
nity.
Developers and entrepreneurs
in Oregon have overwhelming-
ly been white men, and the new
fund is another step towards
changing that and bringing in
more diversity to leadership and
business positions.
The Portland Development
Commission, which oversees
the new fund, has focused on
diversifying leadership in the
business sector in Oregon and
bringing new life into startups,
especially in Portland.
The PDC and Multnomah
County
each
contributed
$500,000 to the new fund, along
with $250,000 from the state of
Oregon. The contract with Ele-
vate is expected to raise an addi-
tional $1.75 million from private
investors, bringing the fund’s
initial size to about $3 million.
Elevate expects to start pour-
ing investments back into the
community by March of next
year, and will develop and raise
the additional private funds until
that time.
Theme:
“Remember!, Celebrate!,
Act!; King’s legacy of
Freedom for the World”
Keynote speaker:
Ms Charlene Williams, Portland
Public School
Martin Luther King essay competition
winners to be announced
Special Music by
the Trinity Lutheran church Choir
Sunday, January 17th, 4:00 pm
Maranatha Church, 4222 NE 12th
Ave, Portland, Or 97211