Houston investor outlines how rare VCs are in Houston — and how to find them

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If you feel like it's hard to find venture capitalists in Houston, you wouldn't be wrong, according to this Houston investor. Photo via Getty Images

As a venture capitalist and former startup founder living in Houston, I get asked a lot about the best way to find and connect with a venture capitalist in Houston. My usual advice is to start with a list, and reach out to everyone on that list. But no one has a comprehensive list. In fact, VCs are such a quiet bunch that I’ve yet to meet someone who personally knows everyone on this proverbial list.

So, I got together with a couple of VC friends of mine, and we put together our own Houston venture capitalist list.

There are, by our count, 11 active venture capital funds headquartered in Houston of any size and type, and outside of corporate venture capital and angel investors, there are 30 total venture capitalists running funds.

Houston has always been quite thin on the VC fund front. I’ve jokingly introduced myself for a while as “one of the 13 venture capitalists in Houston.”

Let’s put this scale in some brutal perspective. With 7.2 million people in the Greater Houston Metro Area, the odds of finding a partner level active venture capitalist in Houston is about 1 in 240,000, if you take a most expanded definition of venture capitalist that might come down to 1 in 100,000. We’re the fifth largest metropolitan area in the country with a tremendous economic engine; there is a ton of capital in Houston, but it’s residing in things like institutional fixed income and equities, real estate, wealth management, corporate, private equity, family office, energy and infrastructure Basically, mostly everywhere but in venture capital funds for tech startups.

By comparison, there are almost as many Fortune 500 CEOs in Houston — 24, by our count — as venture capitalists and fewer venture capitalists than Fortune 1000 CEOs, of which there are 43. That means running into a VC in the checkout line at HEB is about as rare as running into the CEO of CenterPoint, ConocoPhillips, or Academy. In fact, as there are 115 cities in the Greater Houston area, you are three times more likely to be a mayor in Greater Houston Area than a partner at an investor at a VC firm, and more likely to be a college or university president. While we’re at it, you’re 400 times more likely to be a lawyer, 250 times more likely to be a CPA, and over 650 times more likely to be a medical doctor.

Our 30 venture capitalists in the Greater Houston Area are spread across 20 firms and all major venture sectors and stages. Venture capitalist is defined for this list as a full time managing director or partner-level investment professional actively running a venture capital fund with limited partners, currently investing in new venture capital deals from their fund from seed to growth stage, and residing in the Greater Houston Metro area.

To get to 31 we added in a couple of people running venture set asides for PE funds, and a number who work from Houston for funds with no office here. We excluded CVCs, as the decision making is more corporate than individual and rarely includes the committed fund and carried interest structure that defines venture capital, and excluded professionals at angel networks, accelerators, and seed funds that provide investment, but don’t manage conventional venture capital funds, as well as PE funds that do the occasional venture deal. We might be able to triple the number if we include venture capitalists at any professional level, and add in those professionals at PE and angel and seed funds, and corporate venture capital teams who are actively investing. But we’ll get to those other sources of funding in the next list.

The 11 venture capital funds headquartered in Houston are: Mercury, Energy Transition Ventures (my fund), Montrose Lane (formerly called Cottonwood), Texas Medical Center Venture Fund, Artemis, New Climate Ventures, Fitz Gate Ventures, Curate Capital, Knightsgate Ventures, Amplo Ventures,and First Bight Ventures.

Another half a dozen firms have a partner level venture capital investor here, but are headquartered elsewhere: Energy Innovation Capital, Decarbonization Partners, 1984 Ventures, Altitude Ventures, Ascension Ventures, Moneta Ventures, and MKB & Co. Two others, CSL Ventures and SCF Partners, are local private equity funds with a venture capital partner in Houston and a dedicated allocation from a PE fund.

Culling these for partner or managing director level currently in Houston, in alphabetical order by first name, LinkedIn profile and all.

We may have missed a couple of VCs hiding in plain sight, as venture capital is a pretty dynamic business.

VCs are just rare. And yes, perhaps more rare in Houston than in California. Something less than 1 in 100 VCs in the country live in Houston. Across the US there are somewhere around 1,000 to 2,000 active venture capital firms, and maybe another 1,000 to 2,000 active US based CVCs — so, plus or minus maybe at most 4,000 to 5,000 currently active partner level venture capitalists in the country excluding CVC professionals (active VCs and VC funds are really hard to count).

Perhaps in the most stunning statistic, the 7,386 elected state legislators in the US today outnumber the total number of American venture capitalists. Luckily for startup founders, the venture capitalists are more likely to return your phone call.

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Neal Dikeman is a venture capitalist and seven-time startup co-founder investing out of Energy Transition Ventures. He’s currently hosting the Venture Capital for First Time Founders Series at the Ion, where ETV is headquartered.

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Revterra Corp. closed a $6 million series A round led by Equinor Ventures. Photo courtesy of Revterra

Houston EV charging tech company raises $6M series A

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Houston-based tech company Revterra Corp. has picked up $6 million in a series A funding round to propel development of its battery for electric vehicle charging stations.

Norway’s Equinor Ventures led the round, with participation from Houston-based SCF Ventures. Previously, Revterra raised nearly $500,000 through a combination of angel investments and a National Science Foundation grant.

Revterra says its kinetic flywheel battery enables quick, simple, cost-effective installation of high-powered DC chargers for electric vehicles. The technology eases the burden placed on electrical grids, the company says.

“There is an urgent need to reduce carbon emissions globally,” physicist Ben Jawdat, founder and CEO of Revterra, says in a news release. “Our goal at Revterra is to deploy scalable energy storage solutions that facilitate the shift to renewables and EVs while hardening our electric grid. Our systems enable these ambitions while utilizing materials that are recyclable and based on a secure supply chain.”

Jawdat earned a doctoral degree from the University of Houston, and he completed postdoctoral studies at Rice University and the Air Force Research Laboratory.

Revterra says its battery lasts eight times longer than traditional chemical batteries for EV charging do, supplies four times the power output, and causes less of an environmental impact.

“Revterra’s differentiated energy storage systems will be key to enabling fast charging capabilities for EVs and improving the resiliency of the power grid,” says Hossam Elbadawy, managing director of SCF Ventures. “A successful energy transition needs effective energy storage, and innovative technologies like Revterra’s flywheel will provide an important part of the answer.”

In 2021, Revterra joined Greentown Labs in Houston. The five-year-old startup says it plans to expand its workforce over the next 12 months, filling positions in areas such as electrical, mechanical, and manufacturing engineering. Some of those employees will be involved in building Revterra’s first assembly facility, which will be located in Houston.

Revterra plans to roll out its first full-size, commercial-ready batteries in 2023. The batteries are being designed to let an EV driver recharge a car’s battery in 15 minutes or less without taxing the existing electrical grid.

Ben Jawdat is the founder and CEO of Revterra. Photo via LinkedIn

The energy industry is finally prioritizing new technology and greener energy — both in light of and in spite of a global pandemic. Photo via Getty Images

Overheard: Here’s what these energy VCs think of the pandemic’s effect on the energy transition

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In a lot of ways, venture capital firms are tasked with predicting the future. They put money into tech and business services that are going to disrupt the status quo, and energy VCs are tasked with taking bets on the energy transition.

At a virtual event as a part of the 18th annual Rice Alliance Energy Tech Venture Forum, which is taking place online this week, a group of panelists moderated by Sandy Guitar, managing partner at the HX Venture Fund, discussed how the pandemic has affected the energy transition. The group of experts talked about the future of work, decarbonization, and more.

If you missed the event, here are a few key moments from the discussion.

“The role of digitization is going to be huge. The pandemic really exacerbated just how far oil and gas had been behind in that.”

— Sean Ebert, partner at Altira. Ebert explains that when times are good for energy companies, it's hard to get the attention of executives to introduce new technologies. Now, corporations are having to invest in tech that allows their employees to be mobile and remote.

“There’s never been a better time to invest in energy technology. … We are at a point where we can get the type of returns [we look for.]”

— George Coyle, managing partner at Energy Innovation Capital. Coyle adds that he's seen the pandemic effect major growth opportunities in energy startups in his portfolio.

“What we have is a sense of urgency that didn’t exist 15 years ago. Public companies virtually all have a sustainability report and need to show some sort of progress."

— Cory Steffek, managing director at Ara Partners. He adds, "I really think the opportunity in the near term is de-risking software or hardware technologies and showing people that you can construct assets where they can deploy substantial amounts of capital profitably. If you have that, from a returns standpoint, you have something that should generate significant yield."

“The part we have been focused on is how can you make the conventional more efficient, so energy-on-energy conversion is even better.”

— Hossam Elbadawy, managing director at SCF Ventures and technology partner at SCF Partners. He's referring to the question of whether to prioritize new low-carbon innovations or to make conventional methods more sustainable. His observation is that the solution is going to be a hybrid of both.

“When we think about the future of work, we think about what are the capabilities going to be required in the future to be able to improve operations in the field today?”

— Ricardo Angel, managing director and CEO of PIVA. Angel adds that, "a lot of activities might be replaced by AI," and he and his firm are thinking about how they can go about "developing the skills for the people who will be working with those tools."

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Experts: Houston's VC ecosystem has set the foundation — now we need scale

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Fervo Energy went public earlier this summer. The Houston geothermal company priced its IPO at $27 per share, raised $1.89 billion, and opened the next morning at a market capitalization north of $10 billion. By most measures, it is the largest venture-backed cleantech IPO in history and an unambiguous win for Houston. It’s also a useful moment to look at where Houston's venture ecosystem stands and where it can go. The highlight: Houston's venture ecosystem has real foundations and, with increased company formation activity, can grow into the scale our city's ambitions deserve.

A Houston energy story in the national recovery

The recent uptick in Houston venture activity follows national trends. U.S. venture deal count contracted roughly 22 percent from its 2021 peak through 2024 before rebounding to about 16,700 rounds in 2025. Houston's 23 percent increase in VC funding from 2023 to 2024 is part of a national recovery of comparable magnitude over the same time window.

The energy sector is where Houston exhibits unique trends—and where the story turns clearly positive. (Houston's strong health and space sectors deserve their own separate consideration.) By deal count, energy-related rounds have accounted for 15 to 20 percent of Houston activity, roughly consistent over the past few years.

By capital, energy's share surged from about 14 percent in 2023 to over 60 percent in 2025, driven by a small number of large Houston-headquartered rounds, primarily in geothermal and related technologies. Fervo is the obvious anchor, but Sage Geosystems, Quaise Energy, Zeta Energy, Vaulted Deep, Applied Carbon and Mariana Minerals have all closed meaningful rounds. Houston is concentrated and accelerating as an energy capital market, an invaluable position to build upon.

From foundation to scale

The institutional pieces are in place. Greentown Labs, Activate, the Ion and others have built sector-specialized infrastructure most cities would struggle to assemble. Fervo itself is an alum of both Activate and Greentown Labs. Mercury Fund closed its $160 million Fund V, its largest ever. Houston Angel Network, GOOSE Capital, Fathom Fund, and broader pre-seed and seed capital coverage are here. The Houston $10 million-plus Series A list now includes 40 rounds since 2021, which break roughly into two eras. While 2021 to 2022 was biotech-heavy, with companies like Sporos Bioventures, RadioMedix, Cellenkos and Coya Therapeutics, 2024 to 2025 has tilted clearly toward energy, climate, and critical minerals, with Vaulted Deep, Applied Carbon, Mariana Minerals, Sage Geosystems and Ignis H2 Energy among them.

What’s less developed is the volume of seed-stage companies flowing into that capital. Imagine a dozen more Fervos coming out of that infrastructure over the next decade, each generating jobs, recycled founder capital, and the next wave of operators and angel investors. That is the kind of opportunity Houston has within reach if we build the company-formation pipeline to feed it. To be relevant on the national stage as a venture market, and to drive an economy the size of Houston's into the 2030s, the city needs to be doing closer to 20 Series A rounds per month rather than per year. That throughput implies roughly 1,000 seed rounds per year, feeding the funnel at a 20 percent to 30 percent graduation rate. Reaching such throughput depends on how many new founders Houston produces and how quickly our innovation ecosystem can help them achieve lift-off.

Houston in context

The comparative picture brings the scaling challenge into focus. Between 2021 and 2024, Houston-area startups closed between 126 and 153 disclosed venture rounds per year, against a national count between 9,854 and 14,125. That places Houston at a little over 1 percent of the U.S. deal count. For comparison, Austin ran about three times Houston's deal count each year.

At the Series A level, Houston closed between 12 and 24 rounds in any given year. The median Houston Series A across the period was about $10.7 million, compared with $15.4 million in San Francisco. Houston founders are raising fewer and smaller Series A rounds than founders in peer metros, which points directly to where Houston has the most room to grow.

The unicorn picture tells the same story. From 2021 through 2025, the U.S. produced 590 venture-backed unicorns. Four were Houston-based: Solugen and Axiom Space in 2021, Cart.com in 2023, and Fervo Energy in 2024. Adding HighRadius from 2020 brings Houston's all-time total to five. Austin added 19 over the same five-year window. The path from here is to make Houston's entries on lists like these less the exception and more the rule.

Where this leads

Houston has a real opportunity to become the deepest, most credible energy and climate capital market in the country, with the company formation, talent and operator density to support it. The data shows the foundation is already in place. Fervo, Solugen and the growing roster of energy-adjacent Series A graduates are proof. Fervo's IPO is the first of what should be many. Houston has not had a venture-backed cleantech liquidity event of this scale before, and the city now has one to reference, recruit against and build on. With increased company formation at the seed and pre-seed stages, a Fervo-scale outcome need not be a generational event in Houston, but instead, it can become part of a chain reaction powering the city's economy.

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Stephanie T. Schmidt, PhD, is a Venture Fellow at Energy Transition Ventures and an Executive MBA candidate at Rice University. Lawson Gow is the Chief Operating Officer of Greentown Labs. The full Houston VC landscape report is available at Energy Transition Ventures and CleanTech.org.

Sources: Crunchbase, PitchBook-NVCA, Carta

8 can't-miss Houston business and innovation events for July

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Editor's note: Summer is in full swing in Houston, but the city's innovation ecosystem isn't slowing down. This month brings AI workshops, energy and manufacturing discussions, entrepreneur-focused networking, and opportunities to connect with investors and industry leaders. Here’s what not to miss and how to register. Please note: this article may be updated to add more events.

July 7 — How Oil and Gas Professionals are Building Wealth Smarter

Hear from oil and gas professionals on how to preserve wealth at this event put on by Financial Advice Center. The conversation will touch on topics like investing, taxes and retirement planning.

This event is Tuesday, July 7, from noon-1 p.m. at the Ion. Register here.

July 7 — What AI, Cybersecurity, and Tequila Have in Common.

Join Blue People and Alpfa Houston for this engaging presentation on the advantages and risks associated with AI at the latest installment of Tech + Tequila Talk. Cybersecurity veteran Reynaldo Gonzalez will lead the conversation.

This event is Tuesday, July 7, from 5-7 p.m. at the Ion. Register here.

July 7 — Speed to Market: Houston’s Advanced Manufacturing Edge

The Greater Houston Partnership presents a forum that explores what allows advanced manufacturing projects in Houston to move from concept to operation, where delays and bottlenecks occur, and more. Industry leaders Jennifer Clement from CliftonLarsonAllen LLP and Sarah Janes from San Jacinto College will lead the discussion.

This event is Tuesday, July 7, from 11:30 a.m.-1 p.m. at the Partnership Tower. Register here.

July 9 — Capital Connections Summit

Houston City College Center for Entrepreneurship will host the Capital Connections Summit this month, with a panel discussion focused on access to capital and technical assistance for small businesses and entrepreneurs. The event will be moderated by the U.S. Small Business Administration Houston District Office and will feature lenders, nonprofit microlenders, business advisors, and entrepreneurial support organizations. A live Q&A will follow the panel.

This event is Thursday, July 9, from 11 a.m.-1:30 p.m. at Houston City College Central Campus. Register here.

July 9 — Upstream: Digital Tech Meetup at Second Draught

Join Timbergrove at this month's gathering of energy, operations and technology professionals from across the upstream ecosystem. Discuss challenges, explore new ideas and network over pizza and beer at Second Draught.

This event is Thursday, July 9, from 5:30–8 p.m. at the Ion. Register here.

July 14 — Why Networking Isn’t Turning Into Deals, And What To Do Instead

Jada Powell, founder of Powell Consulting Group, will break down why networking often fails to convert into deals and what companies can do differently to turn conversations into qualified opportunities. Powell works with oil and gas, energy, and industrial companies on business development solutions. This session is part of the monthly Pipeline Series: How Oil & Gas Companies Actually Grow Revenue.

This event is Tuesday, July 14, from noon-1 p.m. at the Ion. Register here.

July 15 — From Pilot to Performance: Building Your AI Procurement Roadmap

It's not too late to join in on the GHP's two-part AI series on moving from experimentation to implementation. In session two, explore how procurement and supply chain leaders can scale AI responsibly to create long-term business value. This event will be led by Cassye Cook Provost, founder and principal of RossGrigsby Consultancy.

This virtual event is Wednesday, July 15, from 8:30-10 a.m. Register here.

July 30 — Rice University Summer Engineering Innovation Program - Demo Day 2026

Meet the young minds and see the final team project presentations from Rice University’s Summer Engineering Innovation Program. The 10-week program challenges Rice students to solve real-world challenges using AI, digital engineering, model-based systems engineering and Industry 4.0 technologies.

This event is Thursday, July 30, from 6-8 p.m. at the Ion. Find more information here.

5 must-read innovation headlines: Houston rises among America's best cities

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Editor's note: The local innovation scene was busy in June with exciting news, from Rice's first Pew Scholar to a monumental gift for Houston Methodist. Plus, Houston is rising in the ranks of America's best cities. Here are the five most-read InnovationMap stories published June 16-30, 2026:

1. Report: Houston reclaims top 10 ranking among America's best cities

Houston skyline

Houston has made a triumphant return to America's 10 best cities for 2026, certifying the city is a cornerstone of the country's growth and economic prosperity. Houston ranks No. 9 nationwide in the annual "America's Best Cities" report from Canada-based real estate and tourism marketing firm Resonance Consultancy. Each year, the report ranks the relative qualities of livability, cultural "lovability," and economic prosperity in 393 American cities with metropolitan populations of 500,000 or more. Continue reading.

2. Houston Methodist receives record $110M gift, names future tower

Houston Methodist has received the largest gift in the health system's history to establish new funds for neurological, neuroscience, and women’s health research and treatment. The $110 million gift comes from Houston-based The Brockman Medical Research Foundation, which supports education and research in the science, medicine and healthcare fields. In response, Houston Methodist announced that it will name its forthcoming 26-story hospital facility the Brockman Centennial Tower. Continue reading.

3. Houston scientist wins prestigious Pew Scholar award for brain cancer research

Christina Tringides, an assistant professor of materials science and nanoengineering at Rice University, is one of 21 scientists to win a prestigious Pew Biomedical Scholar award. She is the first faculty member from Rice to win the distinction, which provides $300,000 over four years for advances in biomedicine. The awards are granted to researchers who are in the first few years at the assistant professor level. Continue reading.

4. Rice student startup lands $1.85M to launch medical drone network

Students at Rice University have developed a medical cargo drone transport system to help deliver sensitive medical supplies and improve mobile healthcare efforts. Haast Autonomous is the brainchild of graduating seniors Ege Halac, Jason Chen and Santiago Brent, who got their venture idea off the ground with help from the Liu Idea Lab for Innovation and Entrepreneurship (Lilie) Summer Venture Studio. The founders have developed the prototype at Rice’s Oshman Engineering Design Kitchen (OEDK) with fellow Rice researchers. Continue reading.

5. Intuitive Machines lands $1M grant to expand robotics operations

Houston-based Intuitive Machines is expanding its operations around the country. The space tech company—which has offices and labs in Texas, California, Arizona, Colorado and Maryland—announced that it has received a $1 million grant from Maryland Gov. Wes Moore through the state's Build Our Future Grant. The funding will go toward expanding Intuitive Machines’ Super Cislunar Robotics Assembly Building (Supa-CRAB) Mechanisms and Robotics Center of Excellence in Anne Arundel County. Continue reading.

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