*Note: HX Venture Fund originally published this as a press release
Four more top venture firms call Houston strategic, join the HX Venture Fund portfolio of funds
Houston, September 14, 2020 — HX Venture Fund announced the closing of four new investments in its first fund: Greycroft Venture Partners, Material Impact, Revolution Ventures, and venBio Global Strategic Fund. These new additions follow its initial investment in six other high- performing funds: .406 Ventures, Baird Capital, LiveOak Venture Partners, Next Coast Ventures, OpenView Venture Partners, and Updata Partners.
HX Venture Fund is Houston’s strategic venture capital fund-of-funds aiming to achieve an attractive return for investors by partnering with leading venture capital firms to offer their expertise and risk capital to the region. The Fund creates a pathway for innovation and collaboration in Houston among corporations, startups, and innovators.
HX Venture Fund was launched in late 2018 and serves to fuel the Houston innovation ecosystem by investing in world-class venture capital funds that are committed to bringing their knowledge, expertise, and capital to Houston entrepreneurs.
Guillermo Borda, Managing Partner of HX Venture Fund, said “The receptivity of the HX Venture Fund model has exceeded all our expectations. Since early 2019, over 217 venture capital funds across the U.S. have expressed definitive interest in participating in our model.”
Borda added “It is especially noteworthy that collectively, the ten funds selected for HX Venture Fund’s portfolio have $3.7 billion in committed capital in their funds to be invested with Houston on their investment radar. This is at a time that provides compelling investment opportunities in the economic cycle. This is an exciting time for Houston entrepreneurs and our innovation ecosystem.”
Carmichael Roberts, Managing Partner of Material Impact, a material science venture firm in Boston, says “The make-up of the corporate base in Houston is very distinct, unlike anywhere else, and is strategic to our investment strategy.”
“The innovation and talent in Houston are best-in-class; we want to be investing there…” adds Tige Savage, Managing Partner at Revolution Ventures in Washington D.C., a venture firm focused on early stage internet or internet-enabled companies. Aaron Royston, Managing Partner of venBio in San Francisco, says, “Houston’s healthcare industry is most impressive and accretive to venBio’s strategy. At venBio we are very pleased to team up with HX Venture Fund.”
Dana Settle, Managing Partner of Greycroft Partners in Los Angeles, comments “The HX Venture Fund strategy is exactly the kind of collaboration that we seek for our Platform Strategy…”
Sandy Guitar, Managing Director of HX Venture Fund, says “we are delighted to partner with the general partners of Greycroft Venture Partners, Material Impact, Revolution Ventures, and venBio Global Strategic Fund. With their proven expertise and exceptional track records, we are excited to integrate them into Houston networks and not only give them access to the Fund’s innovative corporate limited partners, but also harness their knowledge to empower Houston entrepreneurs. “To learn more, please visit www.hxventurefund.com.
Aleece Hobson, Activation Venture Partner firstname.lastname@example.org
About HX Venture Fund
HX Venture Fund invests as a limited partner in top-performing venture capital funds across industry sectors. We partner with talented and experienced venture capitalists who are interested in investing in Houston’s startups and actively contributing to Houston’s innovation success. By identifying venture capital funds with successful track records, collaborative investment teams, and compelling investment strategies, we aim to achieve attractive returns for our corporate partners while providing the Houston startup community with support from the best venture capital funds.