Money moves

Rice University's angel network to be powered by Cannon Ventures

The Rice Angel Network will now be powered by Cannon Ventures. Photo courtesy of Rice University

In an effort to better connect Houston entrepreneurs with angel funds, the Rice Angel Network and Cannon Ventures have formed a new partnership. RAN will now be powered by Cannon Ventures, the investment arm of The Cannon, a West Houston coworking space.

RAN is already located in The Cannon, according to its website, but the new arrangement will allow RAN to leverage The Cannon's programming, events, resources, and community as it continues to serve its alumni network.

In December, the two entities have partnered up in the past for the Houston Investor Network Alliance, a collaboration where participating investors can partner up to co-invest in startups, co-host investor events, and share opportunities. According to the release, this new partnership "takes this a step further" to team up to provide early-stage investment.

"The mission is simple," says Lawson Gow, CEO and founder of Cannon Ventures and The Cannon, in a release. "We want to bring Houston's startup ecosystem the access to capital that they need to thrive here in Houston."

Gow, who is the son of InnovationMap's parent company's CEO, started Cannon Ventures almost a year ago. He's a Rice alumnus, as is Kyle Fletcher, the managing partner of Rice Angel Network.

"Houston is one of the largest cities in the US, yet our efforts to bring capital to startups has been done only in pockets throughout the city," Fletcher says in the release. "We are better together than we are separate."

These three Houstonians have a lot up their sleeves for their companies. Courtesy photos

This week's three Houston entrepreneurs are all about improving access for startups — either to capital or to resources — and that's no small undertaking in a market like Houston. With its urban sprawl and large population, Houston's been considered to have a connectivity problem. Luckily, these three folks have solutions.

Grace Rodriguez, executive director and co-founder of Impact Hub Houston

Grace Rodriguez is the co-founder and executive director of Impact Hub Houston. Courtesy of Grace Rodriguez

Grace Rodriguez has been working to launch Impact Hub Houston for a while now, but her and her team's moment has come. For Rodriguez, the goal is to both advance Houston startups, as well as the innovation ecosystem as a whole.

"Our real vision is to help Houston become a role model for how the world solves the most pressing issues," she says. "We want to show the rest of the world that Houston has the talent, expertise, insight, and resources to solve issues around the world." Read more about Rodriguez and Impact Hub Houston here.

Nicolas Carnrite, co-founder of LetsLaunch

Nicolas Carnrite founded LetsLaunch to improve access to funding. Courtesy of LetsLaunch

Something didn't add up for Nicolas Carnrite. The opportunity to invest in companies was limited to such a small percentage of the population.

"There's something like 30 million people globally that have a $1 million net worth, which is the definition of being an accredited investor," Carnrite says. "Thirty million people out of 7.7 billion, so it's a little less than half a percentage."

This translated into an opportunity to create LetsLaunch, a securities investment online platform that democratizes investment. The Houston company has taken it a step further in its recent partnership with The Cannon. Read more about this partnership here.

Youngro Lee, co-founder and CEO of NextSeed

Youngro Lee NextSeed

Youngro Lee, co-founder and CEO of NextSeed, wants to create a connection between business and their communities. Courtesy of NextSeed

Thanks to a recent SEC accreditation, Youngro Lee is now able to announce that his Houston online fundraising platform, NextSeed, is a broker-dealer. The platform, which has helped the likes of Buffalo Bayou Brewery and The Waffle Bus raise thousands of capital dollars, is now able to offer its community more investment opportunities. Read more about what the deal means for the company here.