The holding company for Regent Bank is entering a LP investment agreement with Tulsa-based FortySix Venture Capital (“46VC”) and OKC-based Cortado Ventures.
TULSA, OK, UNITED STATES, November 14, 2023 /EINPresswire.com/ — Regent Capital Corp – the holding company for Regent Bank – is entering a limited partnership investment agreement with two venture capital companies: Tulsa-based FortySix Venture Capital (“46VC”) and Oklahoma City-based Cortado Ventures.
“Regent Bank is bringing a new level of participation in the rapidly developing Oklahoma tech ecosystem to generate interest from the more traditional local investor community. The opportunity for outsized venture returns is compelling, as is the opportunity to grow local and regional tech startups, and generate additional well-paying job growth. Everybody wins in this scenario,” Peter Mullen, Director of Venture and Tech Banking at Regent Bank, said. “These types of partnerships have helped fuel the startup climate in places like San Francisco, and they are being replicated in several heartland communities.”
The funding vehicles for the LP investments include 46VC’s $25 million Kinetic Fund, which targets Energy Tech, HealthTech and Digital Transformation, and Cortado Ventures’ $80 million Fund II dedicated to enterprise tech in energy and logistics, life sciences, and the future of work. Both funds have committed a good portion of their investment capital to go to Oklahoma-based tech startups. These investments represent a major thrust to drive tech startup innovation and provides a pathway for entrepreneurs to build and scale their companies within the state.
“The Midcontinent region, and Oklahoma especially, is a rapidly maturing startup ecosystem and venture capital environment with non-traditional VC investors, like bank holding companies, realizing the potential of this domestic emerging market,” Nathaniel Harding, Cortado Ventures managing partner, said. “No longer is major VC activity relegated to the coasts. The Midcontinent region has long been overlooked and undervalued, but we’re now seeing that talent is now more distributed than ever. We’re excited to welcome Regent Capital Corp as an institutional limited partner.”
Aside from a new source of funding capital, the new partnership creates many other possibilities for Tulsa startups working with the VC firms. Through Regent Bank, area startups will benefit from many of the business development tools that emerging companies require, such as marketing arrangements, mentors, connections, as well as a full suite of business-focused financial tools and services. Regent Bank has more than $1.4 billion in assets, with branches across the state and a variety of business lines including mortgage, insurance, treasury services, and private healthcare banking.
“We are very excited to have Regent as an investor partner as we continue to drive lasting impact for the investors and founders we serve. Having high quality corporate and institutional partners like Regent really help move the needle for us as a firm,” remarked Tracy Poole, Founder and Managing Partner of 46VC.
46VC is a venture capital fund manager based in Tulsa, Oklahoma. 46VC’s Kinetic Fund has a regional strategy to invest in startups and technologies in the heartland region where it has unique access to deal flow and domain expertise.
For media inquiries, please contact Tracy Poole, Managing Partner at 918-605-8321 or [email protected] For more information on 46VC, please visit the firm’s website at www.46.capital
About Cortado Ventures
Cortado Ventures is an early-stage venture capital firm that invests in ambitious, growth-driven companies, backing a new generation of economic prosperity for the Midcontinent region, defined as Oklahoma, Texas, Arkansas, Missouri, Colorado, Kansas, and New Mexico. As one of the largest VC funds in Oklahoma, Cortado’s focus is on tech companies bringing innovative solutions to the energy and logistics, life sciences, and the future of work. For more information, visit cortado.ventures. For media inquiries, please email [email protected]
About Regent Capital and Regent Bank
Regent Bank was founded in 1898 in Nowata, OK, and was acquired by Regent Capital Corporation 15 years ago. The bank has grown to six locations in Oklahoma and Missouri. Regent is among the country’s fastest growing financial institutions with more than $1.4 billion in total assets. Regent Bank is a Member FDIC & Equal Housing Lender.