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Report finds Houston venture capital firm has made the most Texas deals since 2010

Texas venture capital deals had its first spike in volume last year since 2013. Getty Images

When it comes to tracking venture capital deals coming out of Texas since 2010, a Houston fund tops the list — but just barely. Houston Angel Network edged out Austin-based Central Texas Angel Network by one deal.

The report by PitchBook counted deals from 2010 up to March 4 that were made with Texas companies. Ten VC funds were listed and, aside from HAN, Mercury Fund was the only other Houston VC. The other eight funds are located central Texas — with the exception of Right Side Capital Management, which has invested in 45 Texas companies since 2010.

"Texas is currently in a transition powered by high-tech investments that lie in contrast to the slow-paced cattle ranches spread throughout the rural areas of the country's 28th state," the report states. "Partly as a result of the relatively new tech scene, Texas was home to three of the 10 fastest-growing cities in the United States in 2018, according to Forbes."

According to the data, VC funding had been on a downward trend since 2013, when the state raked in $2.83 billion in 536 deals. However, 2018 marked a turn for the state with $3.11 billion in 461 deals — a smaller deal count compared to 2013.

Despite this VC deal growth, compared to the rest of the country, Texas ranks fourth when it comes to VC investment market share. California holds over 52 percent of the market, New York has over 10 percent, and Massachusetts has almost 10 percent itself, per PitchBook data. Meanwhile, Texas reportedly holds only 3.43 percent of the market.

PitchBook also identified the top 10 VC deals investing in Texas companies closed since the beginning of 2018 — none of which were into Houston companies. The list's top three had nine-figure investments — Austin-based Bungalo with a $250 million Series A, Dallas-based Peloton Therapeutics with a $150 million Series E, and Richardson, Texas-based Hedera Hashgraph with a $101 million Seed round.

Graph via PitchBook

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Building Houston

 
 

Here's your one-stop shop for innovation events in Houston this month. Photo via Getty Images

Houstonians are transitioning into a new summer month, and the city's business community is mixing in networking and conference events with family vacations and time off. Here's a rundown of what all to throw on your calendar for July when it comes to innovation-related events.

This article will be updated as more business and tech events are announced.

July 10 — Have a Nice Day Market at the Ion

Stop by for a one-of-a-kind vendor market - #HaveANiceDayHTX - taking place at the Ion, Houston's newest urban district and collaborative space that is designed to provide the city a place where entrepreneurial, corporate, and academic communities can come together. Free to attend and free parking onsite.

Have a Nice Day is a creative collective with a goal of celebrating BIPOC makers, creators, and causes.

The event is Sunday, July 10, 4 to 8 pm, at The Ion. Click here to register.

July 12 — One Houston Together Webinar Series

In the first installment of the Partnership's One Houston Together webinar series, we will discuss supplier diversity an often underutilized resource for business. What is it and why is it important? How can supplier diversity have long-term impact on your business, help strengthen your supply chain, and make a positive community impact?

The event is Tuesday, July 12, noon to 1 pm, online. Click here to register.

July 14 — Investor Speaker Series: Both Sides of the Coin

In the next installment of Greentown Labs' Investor Speaker Series, sit down with two Greentown founders and their investors as they talk about their experiences working together before, during, and after an equity investment was made in the company. Attendees will get a behind-the-scenes look at one of the most important relationships in a startup’s journey and what best practices both founders and investors can follow to keep things moving smoothly.

The event is Thursday, July 14, 1 to 2:30 pm, online. Click here to register.

July 15 — SBA Funding Fair

Mark Winchester, the Deputy District Director for the Houston District Office of the U.S. Small Business Administration, will give a short intro of the programs the mentors will discuss. There will be three government guaranteed loan mentors and two to three mentors co-mentoring with remote SBIR experts.

The event is Friday, July 15, 10:30 am to 1 pm, at The Cannon - West Houston. Click here to register.

July 16 — Bots and Bytes: Family STEAM Day

Join the Ion for a hands-on learning experience to learn about tech and robotics and gain insight into the professional skills and concepts needed to excel in a robotics or tech career. This event will be tailored for 9-14-year-olds for a fun STEM experience.

The event is Saturday, July 16, 10 am to 1 pm, at The Ion. Click here to register.

July 19 — How to Start a Startup

You have an idea...now what? Before you start looking for funding, it's important to make sure that your idea is both viable and valuable -- if it doesn't have a sound model and a market willing to pay for it, investors won't be interested anyway.

The event is Tuesday, July 19, 5:30 to 7:30 pm, at The Ion. Click here to register.

July 20 — Perfecting Your Pitch

Join the Ion for their series with DeckLaunch and Fresh Tech Solutionz as they discuss the importance and value of your pitch deck when reaching your target audience.

The event is Wednesday, July 20, 5:30 to 6:30 pm, at The Ion. Click here to register.

July 21 — Transition On Tap: Investor Readiness with Vinson & Elkins LLP

Attorneys from Greentown Labs’ Gigawatt Partner Vinson & Elkins LLP, a leading fund- and company-side advisor for clean energy financing, will present an overview of legal considerations in cleantech investing, geared especially toward early-stage companies and investors. The presentation will cover the types of investors and deals in the cleantech space and also provide background on negotiating valuation, term sheets, and preparing for diligence.

The event is Thursday, July 21, 5 to 7 pm, at Greentown Houston. Click here to register.

July 28 — The Cannon Community 2nd Annual Town Hall Event

Partner of The Cannon, Baker Tilly, has played an integral part in the success of Cannon member companies. Join the Cannon community for The Cannon's 5-year anniversary celebration!

The event is Thursday, July 28, 4 to 7 pm, at The Cannon - West Houston. Click here to register.

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