Act Two Investors

Founder Ryan Buchanan oversees all investment decisions, drawing on his experience as a two-time exited founder of eROI and Zapproved. He is supported by his wife and co-founder Monica Enand, who brings her own background in technology entrepreneurship. The office maintains a lean structure and does not disclose a separate investment committee.

It is structured as a single-family office deploying the Buchanans' personal capital, not outside limited-partner funds. While it makes direct early-stage investments that resemble venture-capital activity, it does not charge management fees or carry, and its public-equity and real-asset holdings distinguish it from a pure venture firm.

The office relies heavily on Ryan Buchanan's personal network of Pacific Northwest founders, operators, and venture funds. Buchanan's long history in Portland's startup scene, including board roles with organizations like the Oregon Entrepreneurs Network, gives him early access to companies raising pre-seed and seed rounds. The firm also co-invests alongside local and national early-stage funds.

The capital originated from Ryan Buchanan's exits of two Portland-based companies. He founded digital marketing agency eROI, which was acquired, and later co-founded e-discovery software company Zapproved, which was sold to Exterro in 2022. This liquidity event funded the formal launch and scaling of Act Two Investors.

Act Two's primary disclosed activity is direct investing in private companies, public equities, and real assets. The office has not publicly disclosed a program of making limited-partner commitments into external venture-capital or private-equity funds, though its co-investment activity alongside other funds suggests strong GP relationships.

Yes, the Buchanans founded the Emerging Leaders Initiative, a philanthropic foundation making grants to early-stage nonprofits. The initiative focuses on youth leadership development and equity, with grantmaking concentrated in the Pacific Northwest. It is legally and operationally separate from the family office's investment activity.

On the private side, Act Two targets pre-seed and seed-stage rounds, occasionally participating in Series A financing. Its check sizes are not publicly disclosed, but the office's involvement in rounds like Finley's $4.5 million seed suggests it operates in the $250,000 to $1 million range for initial commitments according to typical Pacific Northwest angel and seed-stage patterns.