Oklahoma Agency hits $100 million milestone. The Oklahoma Capital Investment Board has attracted more than $100 million in venture capital to Oklahoma business projects.

An agency created during Oklahoma’s economic doldrums in the early Nineties announced a $100 million milestone recently. The Oklahoma Capital Investment Board has attracted more than $100 million in venture capital to Oklahoma business projects.

The 13-year-old OCIB was created by the state legislature to build the private venture capital industry in Oklahoma. Since its inception, the board — through its Venture Investment Program — has supported investment in 16 venture capital funds, which in turn, have attracted more than $100 million in investments to Oklahoma projects.

“We exist to help build the private, merit-based venture capital industry in Oklahoma,” said OCIB President Devon Sauzek. “Venture capital is critical to the growth of many young companies, particularly those commercializing advanced technologies. Our job is to seek out groups that demonstrate a successful investment track record, a strong strategic fit with Oklahoma investment opportunities and a solid plan for being accessible to Oklahoma entrepreneurs.”

OCIB’s Venture Investment Program has helped commercialize university technologies. For example, in 2003, the board invested in Emergent Technologies Oklahoma. Emergent, an Austin, Texas-based firm, specializes in finding world-class technologies at the University of Oklahoma and building new companies around those technologies. Emergent is a pre-seed investor, often making its stake before a company is even formed.

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