In-State Focus

WRF Capital is the investment vehicle for Washington Research Foundation. We invest approximately $5 million annually in startup companies based in Washington, with a focus on spinouts from nonprofit research institutions in our state: UWWSUFred Hutch and ISB, among many others. Since 1996 we have invested in 131 local startups.

Through early-stage investing, WRF Capital enables technologies developed by Washington-based companies to reach the market. We understand the distinctive challenges of commercializing new technologies and help other investors through our proven track record of thorough due diligence and selective investments.

We are often the first money in, and we partner with angels and VCs over early and later rounds. We can lead investments, syndicating with firms that add value to the team and technology.

Contact Us

If your business or investment opportunity sounds like a good fit for WRF Capital, please contact us at

Investment Areas

We prefer to invest in startups developing technologies with life sciences applications. Our portfolio includes companies in the following areas:

Life Sciences
Includes biotechnology, pharmaceuticals, medical devices and digital health

Information Technology
Includes enterprise software and internet-based solutions that offer innovation with near- and long-term potential

Physical Sciences
Includes advanced materials and scientific instrumentation

Our startup companies support our mission. Their successes create products and services that improve the lives of the public.

We focus on cutting-edge technology spinouts from research institutions.

Our team understands the unique challenges of commercializing new technology, and the risks inherent in advancing it.

Loretta Little, MBA

Ms. Little focuses on investment opportunities in the life sciences such as medical devices, digital health and scientific instrumentation.

See our active portfolio and exits >

We have earned our impeccable reputation.

As diligent investors, we pay close attention to detail. And if things get difficult, we don’t shy away from making it right. We invest for long-term success, and support good companies through every stage of growth.

William J. Canestaro, Ph.D., M.Sc.

Dr. Canestaro’s portfolio includes companies across many sectors of WRF Capital’s investment activities, including biotechnology and engineering.

See our active portfolio and exits >