Cowles Company

Overview

Cowles Company is a diversified media and real estate company headquartered in Spokane, Washington. The company owns and operates The Spokesman-Review newspaper and has interests in television stations, real estate, and other sectors. In 2006, recognizing the need to look toward the future, Cowles Company began investing in startups, aiming to identify the next wholly owned operating subsidiary. Following successful liquidity events between 2015 and 2017, the company strategically evolved its startup investment portfolio into a diversified growth vehicle, independent of the need to find a new operating entity. Cowles Ventures, the venture capital arm of Cowles Company, focuses on early-stage companies that demonstrate clear defensibility, market validation, and scalability. The fund has assets under management totaling $125 million and has made 42 direct investments and committed to 21 managed funds to date. Key areas of interest include Healthcare, AgTech, Media, and vertical SaaS. The investment strategy remains regionally focused in the Inland Northwest. The company's active portfolio features industry leaders such as Spiceology, the fastest-growing spice company in America; Revival Tea, the fastest-growing tea company in America; and Quintar, the frontrunner in XR sports spatial experiences with Apple Vision Pro. Cowles Ventures has participated in several high-profile exits, including StemCentrx (acquired by AbbVie for $9.8 billion), ZipWhip (acquired by Twilio for $850 million), VOKE AI (acquired by Intel Sports), etailz, Scientia Vascular, and Demand Energy (acquired by Enel Green Power). These exits returned nearly 3x invested capital, with an internal rate of return (IRR) of over 60%.

Investment Focus

• Clear defensibility
• Market validation
• Scalability
• Alignment with Cowles Company's vision and values

Portfolio Companies