A C501 CORP SINGLE PLT; DEPARTING PDK; RESPONDED TO AN INVERTER PROB.

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ALTERNATE DEP INSTRUCTIONS WERE GIVEN PRIOR TO TKOF. 300 FT AFTER TKOF; I WAS TOLD TO CONTACT DEP. UPON ESTABLISHING COMS WITH PDX DEP; I WAS TOLD TO CHANGE SQUAWK CODE. AS I WAS RESETTING THE XPONDER; I LOST THE #1 INVERTER; WHICH CAUSED THE AC ELECTRIC FAIL LIGHT TO COME ON. THIS; IN TURN; SET OFF THE MASTER CAUTION. THE ADI ROLLED OVER AND FAILED ALONG WITH THE HSI. I CANCELLED THE MASTER CAUTION ALARM AND SELECTED #2 INVERTER. I WAS TOLD TO TURN TO 190 DEG HDG; AFTER TKOF; OUT OF 1000 FT. DUE TO EQUIP FAILURE AND HIGH TERRAIN; I CHOSE TO TURN L TO AN AREA OF LOWER TERRAIN AND A KNOWN FIX ('BTG' VOR). I WAS PREPARING TO DECLARE AN EMER; WHEN I LOOKED OVER TO THE COPLT'S HSI; WHICH WAS OPERATIONAL. AT THAT POINT; I STEERED THE ACFT USING THE COPLT'S HSI. BY THIS TIME; I WAS CONTACTED BY ATC AND ASKED WHICH WAY I WAS TURNING. I TOLD THEM L. THEY ASKED WHICH WAY I WAS ASSIGNED; AND I TOLD THEM R TURN TO 190 DEGS. THEN ADVISED THEM THERE HAD BEEN AN EQUIP FAILURE; BUT THE SIT WAS NOW UNDER CTL. THEY VECTORED ME TO MY ASSIGNED RTE; AND I PROCEEDED ON TO THE DEST. RATHER THAN TURN IN TO HIGHER TERRAIN; I CHOSE TO FLY THE ACFT AND MAINTAIN SITUATIONAL AWARENESS TO A KNOWN PROC AND FIX.