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Bringing Oklahoma Innovation to the World
from i&E BIO Edition 2023
by Shannon Carr
Boyd Street Ventures was created to support the economic growth of the State of Oklahoma while generating above-average returns for investors by funding and advising Oklahomaaffiliated startups. BSV's model is designed to help build Oklahoma's entrepreneurial ecosystem and give Oklahoma-based startups the financial resources and strategic and operational tools necessary to stay and grow in Oklahoma.
The majority of BSV’s portfolio companies come from the ecosystems of the University of Oklahoma or other state universities, from alumni of those schools, or through some other Oklahoma connection. The firm also created the Boyd Street Endowment Fund to support Oklahoma companies led by minority, female and SEDI founders.
BSV got its start when James Spann – a Marine veteran, long-time c-suite executive and avid OU alum – and Jeff Moore – a Navy veteran, ex-McKinsey consultant, and Executive Director of OU’s Ronnie K. Irani Center for the Creation of Economic Wealth – got tired of seeing so many promising Oklahoma startups fail due to the inability to raise the funding necessary to launch and scale their innovations.
They founded BSV in 2021 around a unique strategy: Rather than taking a hands-off approach like most VCs, they would be “active investors” in their under-the-radar portfolio companies by making their experienced staff and high-powered Advisory Board available to provide strategic and operational advice. This de-risking guidance allows companies to scale faster and more profitably, which allows BSV to target “above the crowd” returns for its investors.
In just over a year since launching its Fund I, BSV has invested in 10 companies with Oklahoma connections, two of which are participants in the BSV Venture Studio. Messrs. Spann and Moore plan to continue investing in 6-to-10 startups annually and bring Oklahoma innovation to the world – and growth and prosperity to Oklahoma – for many years to come.