Rogue has achieved a first close for its fourth fund, although it is as-yet unclear whether Oregon State University is again an investor.

US-based venture capital firm Rogue Venture Partners has begun investing from its fourth fund following a first close en route to a $30m target, according to the Portland Business Journal.

The report did not name any limited partners and it is unclear whether Oregon State University (OSU), which made the largest commitment to Rogue’s $30m third fund in 2018 and $10m second fund in 2016.

Although Rogue has never had a specific remit to invest in OSU spinouts, it began collaborating with the university around the time of its investment in the second fund to identify opportunities.

Rogue Venture Partners focuses on seed-stage companies in areas such as healthcare, e-commerce and technologies to support an aging population. It primarily invests in markets that are lack access to venture capital, with a major focus on the Pacific Northwest.

The firm also operates a vehicle dedicated to startups founded and led by women, the $5m Rogue Women’s Fund. The vehicle is also focused on seed-stage companies and is in the second year of a two-year operation, with six investments made to date out of a planned 12.