Huston in $100m tech investment
The early stage venture fund said it would invest in aerospace, energy, IT, life sciences, and nanotechnology sectors. The amount of existing commitments to the fund was not revealed.
Bizjournal says John White, a partner at Houston-based venture capital firm Murphree Venture Partners, will serve as CEO of the fund.
“Houston is a fertile landscape for entrepreneurship and has an extensive history of innovation,” says White.
“We believe the Houston Technology Future Fund will not only assist these innovations in reaching commercialisation, but will also provide a terrific return to investors.”
The purpose of the fund is to provide capital for companies to take their early-stage technologies to the marketplace, reports PR Newswire. The fund's objective will be to generate income and capital gains by making controlling and non-controlling equity investments in new or established businesses.
“The [Fund] provides pivotal financing which is greatly needed to support technology innovation,” states Walter Ulrich, president and CEO of the Houston Technology Centre.
Share
