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OGE Energy Corp. Foundation Invests in Boyd Street Ventures Fund I
Investment was made through a grant to the Boyd Street Endowment Fund, which supports companies led by minority, female and SEDI founders
NORMAN, OK, UNITED STATES, January 31, 2024 /EINPresswire.com/ — Boyd Street Ventures announced today that OGE Energy Corp. Foundation Inc. is the latest anchor investor in Boyd Street Ventures’ Fund I. The investment was made through a recoverable grant to the Boyd Street Endowment Fund that is supported by LOHAS, an impact investing advisory firm that enables the investment of philanthropic capital into for-profit impact ventures that deliver sustainable solutions to social and environmental challenges.
The Boyd Street Endowment Fund is a 501(c)(3) that supports venture-backed companies led by founders who are minorities, females, and/or socially or economically disadvantaged individuals (“SEDI”) and organizations that seek to develop and invest in the University of Oklahoma ecosystem or the Oklahoma entrepreneurial community.
Given OGE Energy Corp. Foundation’s support of the mission of the Endowment and the Endowment’s alignment with the investment focus of Boyd Street Ventures, the parties formed this relationship and enabled this investment to deliver meaningful social impact while also seeking market-leading financial returns.
As Zac Gladhill, director grid innovation for OG&E noted, “OG&E believes our company is only as strong as the communities we serve. Investing in Boyd Street Ventures through the Foundation ensures that we are driving innovation and entrepreneurial endeavors right here at home. Supporting entrepreneurs who want to grow businesses and communities in our state will generate real returns that benefit all of us.”
Reflecting on the partnership, James Spann, Founder and Managing Partner of Boyd Street Ventures, added, “Our fund focuses its efforts on Oklahoma startups – particularly those with minority, female and SEDI founders – and investments like this are crucial to enabling the work we do and the lives we positively impact. We are grateful to OGE Energy Corp. Foundation for this investment, and we look forward to demonstrating to the Foundation the true value of its support.”
About Boyd Street Ventures
Boyd Street Ventures is a groundbreaking, early-stage venture capital firm connecting institutional and other investors to high-growth investment opportunities developed within the ecosystem of University of Oklahoma – recipient of the Carnegie Classification’s highest rating for research activity – and by OU alums and other Oklahoma-affiliated entrepreneurs. BSV places Pre-Seed, Seed, Series A and follow-on investments in the Life Sciences, FinTech, Energy Tech, Aerospace & Defense, and Climate Tech sectors. The firm focuses on under-the-radar startups that are less likely to have their prices overbid and overpriced than startups targeted by larger VC firms on the East and West Coasts. This focus, coupled with its unusually active involvement in providing de-risking strategic and operational counsel to its portfolio companies through its Boyd Street Venture Studio, enables BSV to target above-average returns for its investors. For more information, please visit https://www.boydstreetventures.com/
John Pohl, Venture Partner, Marketing & Investor Relations
Boyd Street Ventures
Watch a 3-minute introductory video on Boyd Street Ventures.