Female-led venture capital firm launches in Houston to move the needle on investment in women-owned companies

Who runs the world?

A new venture capital firm launched in Houston to focus on female-led startups. Courtesy of The Artemis Fund

Three powerhouse investment minds have teamed up to launch a female-focused seed and series A venture capital firm in Houston.

In its first $20 million fund, The Artemis Fund will invest in around 30 women-led companies, and will award a $100,000 investment prize at the Rice Business Plan Competition, which takes place April 4 through 6. According to the company's press release, The Artemis Fund is the first of its kind — being female-led and female-focused — in Houston.

"There is a wealth of female leadership in the Houston innovation ecosystem, and we would like to see the same representation in the investor the investor community to help female founders thrive," says Stephanie Campbell, co-founder and principal of The Artemis Fund.

Campbell, and her co-founders, Leslie Goldman and Diana Murakhovskaya, all have extensive experience in venture capital. Campbell has served as managing director for The Houston Angel Network since 2016, while Goldman currently sits on the board of the organization and Murakhovskaya has been a previous investor member. Murakhovskaya worked for a long time in New York City and co-founded the Monarq Incubator, which focuses on women-led startups.

Women make up only 9 percent of decision makers in VC firms in the United States, and women-led companies only receive of 2 percent of venture capital, the release cites. This imbalance is something Artemis exists to change, especially since two-thirds — $22 trillion — of the nation's personal wealth will be controlled by women by 2020, the release states, citing the BMO Wealth Institute, and women currently drive 85 percent of purchases, or $150 billion.

While fewer and farther in between, venture-backed, women-led startups are more profitable. Reportedly, they achieve higher revenues by 12 percent, according to the Kauffman Fellows Report, and higher returns by 63 percent, per First Round's 10-Year Report.

"I'm enthusiastic about launching The Artemis Fund in Texas and reaching a new class of funders to invest in the most diverse tech-enabled companies from across the country," says Murakhovskaya in the release. "Houston, in particular, is uniquely positioned to be the next big tech hub with one of the most active angel groups, a burgeoning innovation ecosystem, support from Houston Exponential, top universities, and historically sidelined capital ready to be activated."

The three principals and co-founders are arguably the fund's greatest asset — from their connections, experience, and reputation. Together, they have in backgrounds in business, law, and engineering.

"We want female entrepreneurs to feel that Houston is a welcoming place to start, grow, and support female-led businesses," says Goldman in the release. "The Artemis Fund will play an integral part in creating this environment."

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Axiom Space taps solar array developer for first space station module

space contract

Houston-based Axiom Space is making progress on developing its commercial space station.

The company awarded Florida-based Redwire Corporation a contract to develop and deliver roll-out solar array (ROSA) wings to power the Axiom Payload Power Thermal Module (AxPPTM), which will be the first module for the new space station.

AxPPTM will initially attach to the International Space Station. AxPPTM will later separate from the ISS and rendezvous with Axiom’s Habitat 1 (AxH1) on orbit. Eventually, an airlock, Habitat 2 (AxH2) and finally the Research and Manufacturing Facility (AxRMF) will be added to the first two Axiom modules.

AxPPTM is anticipated to launch toward the end of 2027. The two-module station (AxPPTM and AxH1) is expected to be operational as a free-flying station by 2028, and the full four-module station around 2030.

The modules will be integrated and assembled at Axiom Space’s Assembly and Integration facility, making them the first human-rated spacecraft built in Houston.

Redwire’s ROSA technology was originally developed for the ISS, according to Space News. It has yielded a 100 percent success rate on on-orbit performance. The technology has also been used on NASA’s Double Asteroid Redirection Test mission, the Maxar-built Power and Propulsion Element for the Artemis Lunar Gateway and Thales Alenia Space’s Space Inspire satellites.

“As a market leader for space power solutions, Redwire is proud to be selected as a strategic supplier to deliver ROSAs for Axiom Space’s first space station module,” Mike Gold, Redwire president of civil and international space, said in a news release. “As NASA and industry take the next steps to build out commercial space stations to maintain U.S. leadership in low-Earth orbit, Redwire continues to be the partner of choice, enabling critical capabilities to ensure on-orbit success.”

Greentown Houston to add new AI lab for energy startups

AI partnership

Greentown Labs has partnered with Shoreless to launch an AI lab within its Houston climatetech incubator.

"Climatetech and energy startups are transforming industries, and AI is a critical tool in that journey," Lawson Gow, Greentown's Head of Houston, said in a news release. "We're excited to bring this new offering to our entrepreneurs and corporate partners to enhance the way they think about reducing costs and emissions across the value chain."

Shoreless, a Houston-based company that enables AI adoption for enterprise systems, will support startups developing solutions for supply-chain optimization and decarbonization. They will offer Greentown members climate sprint sessions that will deliver AI-driven insights to assist companies in reducing Scope 3 emissions, driving new revenue streams and lowering expenses. Additionally, the lab will help companies test their ideas before attempting to scale them globally.

"The future of climatetech is intertwined with the future of AI," Ken Myers, Founder and CEO of Shoreless, said in a news release. "By launching this AI lab with Greentown Labs, we are creating a collaborative ecosystem where innovation can flourish. Our agentic AI is designed to help companies make a real difference, and we are excited to see the groundbreaking solutions that will emerge from this partnership."

Greentown and Shoreless will collaborate on workshops that address industry needs for technical teams, and Shoreless will also work to provide engagement opportunities and tailored workshops for Greentown’s startups and residents. Interested companies can inquire here.

Recently, Greentown Labs also partnered with Los Angeles-based software development firm Nominal to launch the new Industrial Center of Excellence at Greentown's Houston incubator. It also announced a partnership with Houston-based EnergyTech Nexus, which will also open an investor lounge on-site last month. Read more here.

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This article originally appeared on our sister site, EnergyCapitalHTX.com.

Houston medical institutions launch $6M kidney research incubator

NIH funding

Institutions within Houston’s Texas Medical Center have launched the Houston Area Incubator for Kidney, Urologic and Hematologic Research Training (HAI-KUH) program. The incubator will be backed by $6.25 million over five years from the National Institutes of Health and aims to create a training pipeline for researchers.

HAI-KUH will include 58 investigators from Baylor College of Medicine, Texas Children’s Hospital, the University of Texas Health Science Center at Houston, University of Houston, Houston Methodist Research Institute, MD Anderson Cancer Center, Rice University and Texas A&M University Institute of Biosciences and Technology. The program will fund six predoctoral students and six postdoctoral associates. Trainees will receive support in scientific research, professional development and networking.

According to the organizations, Houston has a high burden of kidney diseases, hypertension, sickle cell disease and other nonmalignant hematologic conditions. HAI-KUH will work to improve the health of patients by building a strong scientific workforce that leverages the team's biomedical research resources to develop research skills of students and trainees and prepare them for sustained and impactful careers. The funding comes through the National Institute of Diabetes and Digestive and Kidney Diseases.

The principal investigators of the project include Dr. Alison Bertuch, professor of pediatric oncology and molecular and human genetics at BCM; Peter Doris, professor and director of the Institute of Molecular Medicine Center for Human Genetics at UT Health; and Margaret Goodell, professor and chair of the Department of Molecular and Cellular Biology at Baylor.

“This new award provides unique collaborative training experiences that extend beyond the outstanding kidney, urology, and hematology research going on in the Texas Medical Center,” Doris said in a news release. “In conceiving this award, the National Institute of Diabetes and Digestive and Kidney Diseases envisioned trainee development across the full spectrum of skills required for professional success.”

Jeffrey Rimer, a professor of Chemical Engineering, is a core investigator on the project and program director at UH. Rimer is known for his breakthroughs in using innovative methods in control crystals to help treat malaria and kidney stones. Other co-investigators include Dr. Wolfgang Winkelmeyer (Baylor), Oleh Pochynyuk (UTHealth), Dr. Rose Khavari (Houston Methodist) and Pamela Wenzel (UT Health).

“This new NIH-sponsored training program will enable us to recruit talented students and postdocs to work on these challenging areas of research,” Rimer added in a release.

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