Paul Allen opening investment office in Silicon Valley

PORTLAND, Ore. -- Should we be hurt that Paul Allen has jumped right over Portland to take his venture capital dollars to Silicon Valley?

I mean, we have a vibrant startup scene here, loaded with promising technology and talent. We have incubators to, well, incubate them. And, as owner of the Portland Trail Blazers, Allen knows how we like to get behind homegrown products.

What we don't have here, is a deep pool of locally sourced investors to fuel those startup dreams.

With all that, it seems Portland would be a perfect fit for Vulcan Capital, the investment arm of Allen's Seattle-based Vulcan Inc.

As Reuters reports, however, it's not meant to be. Allen is opening Vulcan Capital in Palo Alto, where the firm will funnel dollars into emerging tech and internet companies.

The Portland Business Journal is a KATU News partner.