The Alaska Journal of Commerce published my article on the role of private corporate venture capital in early stage company creation at the conclusion of the 2018 Alaska Startup Week. You can read the article here: http://www.alaskajournal.com/2018-11-16/private-equity-investing-alaska-need-corporate-strategic-investing
The focus of the article is on the critical role that private equity investors play in creating a healthy startup ecosystem. While here in Alaska we have an active individual private equity investor community (angels), we are missing the corporate venture capital players in early seed staging investing that are not related to natural resource exploration and extraction. There are a number of companies that operate in Alaska, which have funds, that I think could be more active in the Alaska startup ecosystem. Some of these include, in no particular order:
- BP Ventures – https://www.bp.com/en/global/ventures.html
- Chevron – https://www.chevron.com/technology/technology-ventures
- ConocoPhillips – Technology Ventures – https://www.bp.com/en/global/ventures.html
- Providence Ventures – http://www.providenceventures.org/
- Exxon Capital Ventures, Inc. – ?Website?
I’m looking for more potential funds–please reach out to me if you know of other businesses operating in Alaska with corporate investment funds that we could be attracting to the challenges and innovations in Alaska. I’m also exploring how to encourage Alaska businesses that have flourished here over the decades of growth that are now ready to engage in building a new value-added economy with their own investment funds.
Other funds looking at early stage venture-type investments in Alaska include:
- Alaska Venture Partners – http://alaskavc.com/
- Alaska Growth Capital – https://www.alaskagrowth.com/
- Bristol Bay Development Fund – https://www.bbnc.net/our-operations/in-region-investment/
Surprisingly, the Alaska Permanent Fund does invest in early stage companies, just not in Alaska (https://www.crunchbase.com/organization/alaska-permanent-fund#section-overview).
I’m trying collect more information about three groups of early stage private corporate investors in Alaska including:
- Companies operating in Alaska, but based outside of Alaska
- Companies operating in Alaska, based/originated in Alaska
- Alaska Native Corporations that are investing in early stage startup ventures
In each category, I’m just looking at early seed stage strategic investing. Merger and acquisition activity and revenue investments are already taking place in our state and seem to be funded. My assumption is that a healthy ecosystem in Alaska will include a balance of these three groups in the innovation ecosystem. It may start with them working together initially.
If you know of other funds or have comments, please post them below or contact me directly at kholland at alyeskavm.com
Ky
Here are a couple other older articles related to Alaskan private venture capital.
http://www.alaskajournal.com/community/2001-12-17/venture-capital-still-fuels-start-ups#.W_ify2hKiUk
https://www.adn.com/opinions/2017/07/18/venture-capital-is-key-to-modern-alaska-economy/