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The Oregon Growth Account (OGA)
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The search for more investment capital to help encourage Oregon start-ups led to the Legislature to create the Oregon Growth Account (OGA) in 1995. The OGA is a unique fund in Oregon, and is specifically designed to inject seed capital to launch and expand young Oregon companies. The funds come from the Oregon Lottery, which, among other goals, finances economic development. Returns from investments in the OGA help fund education. The Oregon Growth Account has committed over $99 million since inception. Investments through the fund have paid off in new jobs: The aggregate payroll produced by companies aided by the Oregon Growth Account equals $83 million a year. The funds in the OGA are managed by external managers, who vet applicants and decide which of them have the best ideas and best chances for success. Also, in recognition of the need to develop early-stage investments devoted to Oregon, the OGA has a requirement to invest its money in Oregon and a preference for Oregon-based managers. The Oregon Growth Account is one way that Oregon is investing in Oregon. The Oregon Growth Account does not invest directly in companies: Investments are made at the sole discretion of the external managers. Entrepreneurs are invited to contact any of those general partners and submit business proposals. The OGA is overseen by a public board and State Treasurer Ted Wheeler is the chairman. The minutes and agendas from meetings of the OGA Board are a public record. The Office of the State Treasurer maintains the policies for the fund. |
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350 Winter Street NE, Suite 100 | Salem, OR 97301-3896
General Phone 503-378-4000 | State Treasurer's Office Phone 503-378-4329 |
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