OAP Way of Investing: Effectuation Theory
OAP integrates the Effectuation Theory into our investment approach. The theory is developed by Ph.D. Saras Sarasvathy and co-researchers, educators, and investors Stuart Read, Scott Davidson, Robert Wiltbank, and Wade Brooks prioritize the adaptability and resourcefulness of entrepreneurial decision-making in uncertain environments. Effectual reasoning is a type of human problem-solving developed from a cognitive science-based study of 27 founders of companies ranging in size from $200M to $6.5B conducted by Professor Saras Sarasvathy.
At OAP, we go beyond providing capital. We offer expertise, industry networks, and tailored guidance to support startups in making informed decisions, validating ventures, and accessing crucial resources for growth. Our commitment to long-term partnership ensures support through the ups and downs of entrepreneurship.
Introduction by Professor Saras Sarasvathy
Here is an interview with UVA Darden Professor Saras Sarasvathy at BigThink. She discusses entrepreneurial expertise, who becomes an entrepreneur, what the recession means for entrepreneurship, and entrepreneurial thinking and action.
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For more information about the Effectuation Theory, please visit
Mentors in Effectuation Theory
Ph.D. Saras Sarasvathy
Stuart Read
Robert Wiltbank
Scott Davidson
Wade Brooks
For publications about the Effectuation Theory, please visit
Willamette University Atkinson Graduate School of Management
Angel Investment Fund
The WUMBA Angel Investment Fund is an experiential learning initiative designed to immerse MBA students in the real-world processes of angel investing. Students gain hands-on experience evaluating and funding early-stage startups, bridging theoretical knowledge with practical application. This program is built around the principles of Effectuation Theory, which emphasizes a dynamic, iterative approach to entrepreneurship where goals are developed progressively based on available means and evolving circumstances. This aligns with the fund’s mission to cultivate an entrepreneurial mindset among students, enabling them to adeptly navigate and impact the startup ecosystem
WU Angel Fund 2024 Reunion
WU Angel Fund 2022 Reunion