Larry Lawson joined InnovationMap for a Q&A about his startup's recent exit, his role on the boards of five med device companies, his investment activity, and more. Photo courtesy of Larry Lawson

Earlier this year, Houston-based serial entrepreneur Larry Lawson celebrated the exit of his medical device company, Preventice Solutions, which he sold to Boston ScientificBoston Scientific in a $1.4 billion deal.

Nowadays, Lawson is laser focused on investing in the Houston innovation ecosystem, particularly in medical device, as well as working on Proxima Clinical Research, a contract research organization in the Texas Medical Center he co-founded with Kevin Coker.

Lawson joined InnovationMap for a Q&A about the exit, his role on the boards of five med device companies, and his investment activity. He also shares how he sees the impact of COVID-19 and where Houston's burgeoning innovation ecosystem is headed.

InnovationMap: Earlier this year you saw an exit for your company Preventice Solutions, a company focused on the development of mobile health solutions and remote monitoring, which was sold to Boston Scientific in a $1.4 billion deal. What did this deal mean to both you and the company?

Larry Lawson: It validated what I started back in 2004. I had an idea, And I moved forward on my idea — in the beginning completely financed that idea myself. I tried to raise funds, and it was very difficult here in Houston back in 2004 to do that. I put my money, you might say, where my mouth was and I started the company and funded it and built it to a point to where we attracted some venture capital from one of the world's largest VC groups out of California called Sequoia Capital. That allowed me to really increase our exposure and our footprint nationally. And it just grew and grew and eventually Boston scientific got interested in the company, along with Merck, a pharmaceutical company, and they bought smaller pieces of the company.

Then at the end of the year of 2020, Boston Scientific made a play to acquire the company completely. Frankly, it have been better. I would have never dreamt that my original company would be worth that much and sell for that much. So it was very nice for not only me, but for many other people that were employed by Preventice, because as a founder of the company, I knew how important it was to share equity with the people that really make the company run and make it run well.

IM: I noticed that you’re on the board of several Houston health tech startups — most of which I’ve covered on InnovationMap. What do you look for in a company before joining the board and what role do you play for the companies’ growth?

LL: First of all, I look at the people who are in the company — from top level executive level all the way down, even including the existing board members of the company. I only invest in medical device companies. That's what I know, and that's why I've spent over 50 years in, and I feel like I know it very well. I do not venture far off of that line or that path at all.

I look for a strong operating group. I look for strong leadership — and if I can bring even stronger leadership and have them get from point A to point B, I like to get involved. Given my medical as the chairman of the company.

IM: You started your investment firm in 2018 — what inspired you to create LAWALA Capital and what do you look for in potential portfolio companies?

LL: I really limit my investments to the medical device segment of health care. LAWALA is just me — it's the first two letters of all three of my names: Larry Wayne Lawson. How I got into investing and starting companies is I see opportunity, and I see voids in the industry.

IM: Speaking of, you founded Proxima Clinical Research in 2017, which has a very hands-on approach to accelerating health tech innovation. Why did you decide to start that up?

LL: I saw a void in the clinical research industry, specifically at the medical center here, the largest medical center on the face of the earth. And it was doing all of this attracting all of these companies, all of these health science companies into Houston, and they were building and budding their companies, but there was no centralized clinical research company to be there for them.

I thought, "my gosh, somebody ought to do this." Well, I'm a doer. So, I went to the powers to be at the medical center and got their approval to be the founder of a company, called Proxima Clinical Research, and the key is putting it right there in the heart of the largest medical center in the world.

It's been really, really good for these companies who are coming into Houston to take advantage of the life science growth that's taking place here in Houston.

IM: How did COVID-19 affect the work that you do?

LL: COVID really did not affect our business that greatly. It affected the investments that I was doing. I pulled back and cut my, expenses and that, because I just needed to see, you know, how the COVID thing would shake out. I'm watching my investments a lot closer today, and think that it's affected the startup companies, more because to be a startup company, you have to go out and find investors to invest in your company. And I think that process has been slowed, I won't say considerably, but I think it's been slowed quite a bit over the past year and a half.

It just so happens that in the industry that I've been in, which is patient monitoring — cardiac arrhythmia monitoring — COVID has heightened patient monitoring more than anything else. What we learned from COVID is that we've got to be more in tune ourselves than ever before in monitoring all aspects of ourselves. What has come out of this COVID pandemic is telemedicine, which has struggled for years, now all of a sudden telemedicine is on the tip of everyone's tongue.

And I think that's one reason why you see the big companies — the multinational, multi-billion dollar companies — getting more in patient monitoring.

IM: Houston is home to the largest medical center in the world — but it’s often times not listed as a top city for medical innovation. Is that changing? And if so, how?

LL: When the medical center purchased the old Nabisco building and turned that into a technology center and a startup center, it changed the whole complexion of the device and medical startup community here in Houston. We've had a lot of former development here through MD Anderson in oncology, but we'd never had very much in devices. Now, we have companies coming from Europe and Asia coming to Houston to promote their technology and the devices that they have built.

The Rice Business Plan Competition is the largest in the United States. We fund more startup companies out of RBPC. I'm talking Harvard, MIT, Stanford, Berkeley — Houston is number one. And that has a lot to do with what has happened in the medical center over the past seven or eight years.

IM: What more do we need, now that we've come this far to really push us into that innovative healthcare city status?

LL: Well, I think what we need is for investors investing in healthcare and not oil and dirt. For years and years, the whole economy was driven by oil and gas and real estate. And I can remember starting my first company, the early eighties, I went to banks to borrow money to start my first company, and all I wanted was $200,000. Well, that was still a lot of money back then, but they would literally fall asleep on me because they couldn't understand and didn't understand exactly what I wanted to do. And so I wound up having to fund myself use my friends and family as investors, but that's changed quite a bit. The health science community here in Houston is now known all over the world. It's gonna just continue to grow and develop, and I hope to be a part of continue to be a part of it.

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This conversation has been edited for brevity and clarity.

Here's what Houston startups raised the most money this year, according to InnovationMap. Photo via Getty Images

Here are the top 5 Houston startup venture capital deals in 2020

2020 in review

Editor's note: As 2020 comes to a close, InnovationMap is looking back at the year's top stories in Houston innovation. When it came to the money raised in Houston, these five startups raised the most, according to reporting done by InnovationMap.


Preventice Solutions' $137M series B

Preventice Solutions reportedly raised $137 million to grow its medical device business. Photo via Getty Images

Houston-based Preventice Solutions, a medical device company, raised a $137 million series B in July. The round was led by Palo Alto-based Vivo Capital along with support from existing investors, including Merck Global Health Innovation Fund, Boston Scientific, and the Samsung Catalyst Fund.

The funds were raised in order "to accelerate investment in salesforce expansion, technology and product innovation and further development of clinical evidence supporting its flagship solution," according to the news release.

"We are pleased to have Vivo Capital and Novo Holdings as new investors, and with this funding we are poised to further accelerate our growth," says Jon P. Otterstatter, CEO of Preventice Solutions, in a press release. "We are setting a new standard for monitoring of cardiac arrythmia patients. Our robust and growing success with physicians and payers accentuates the compelling value proposition of using novel technology to improve diagnosis, while also increasing the efficiency of healthcare delivery."

HighRadius's $125M series B

Houston-based HighRadius has reported reaching unicorn status following a $125 million raise. Photo via highradius.com

High Radius started out 2020 strong, reportedly reaching unicorn status with the closing of a $125 million series B round.

The Houston startup, an artificial intelligence-powered fintech software company, announced the round was led by ICONIQ Capital, with participation from existing investors Susquehanna Growth Equity and Citi Ventures, according to a news release from the company.

"Today marks an important milestone for HighRadius and we're thrilled to have ICONIQ join us in our vision to modernize the Order to Cash space," says Sashi Narahari, founder and CEO of HighRadius, in a news release. "ICONIQ combines patient capital with a long-term vision of investing in category-defining businesses, and the firm has worked with some of the world's most successful tech entrepreneurs. We are building HighRadius into a self-sustaining, long-term category leader, and ICONIQ is a great partner for us in this journey."

The company, which offices in West Houston, was founded in 2006 founded in 2006 and employs more than 1,000 people in North America, Europe, and Asia. In November, HighRadius opened an office in Amsterdam. According to the news release, the company will use the funds to further expand its global footprint.

GoExpedi's $25M series C

Tim Neal, CEO of Houston-based GoExpedi, shares how his company plans to scale following its recent series C closing. Photo by Colt Melrose for GoExpedi

In September, GoExpedi announced it had raised $25 million in series C funding led by San Francisco-based Top Tier Capital Partners with participation from San Jose Pension Fund, Houston-based CSL Ventures, San Francisco-based Crosslink Capital and Hack VC, New York-based Bowery Capital, and more. Last year, GoExpedi raised $25 million in a series B round — also led by Top Tier Capital — and $8 million in a series A just a few months before.

"This new injection of capital will help us advance our digital platform for MRO and supply chain systems and accelerate the rollout of our new robotics operations, as well as deepen our technology team to help us meet new, insatiable demand," says Tim Neal, CEO of GoExpedi, in a news release. "Leveraging our intuitive, customer-focused, and interactive intelligence platform is a no-brainer for companies seeking to modernize their respective supply chains.

Founded in 2017, the e-commerce, supply chain, and analytics company, is using the funds to expand beyond energy into adjacent markets and further develop its machine learning software, robotics, and advanced analytics technologies. According to the release, the company also plans to hire.

Liongard's $17M series B

Houston-based SaaS company, Liongard, has closed its recent fundraising round led by one of HX Venture Fund's portfolio funds. Getty Images

Houston-based, fast-growing software-as-a-service company, Liongard, closed its $17 million round in May round in May. It was led by Updata Partners with contribution by TDF Ventures, Integr8d Capital, and private investors. With customers in 20 countries, Liongard saw triple-digit customer growth and doubled its staff over the past 18 months, according to a news release.

Liongard's CEO, Joe Alapat, who co-founded the company with COO Vincent Tran in 2015, says that the new funds will continue to support its Roar platform — a software product that creates a single dashboard for all data systems and allows automation of managed service providers, or MSPs, for auditing and security within a company's IT.

"Since the launch of Liongard, the platform's adoption and popularity with MSPs has grown rapidly, transforming Liongard into a highly recognized brand in the MSP ecosystem," Alapat says in the release. "This new investment and the continued confidence of our investors will fuel our growth by giving us the means to further advance our solution's capabilities and serve our customers at an even better level."

Liongard's total funding now sits at over $20 million. Last year, the company raised a $4.5 million series A round following a $1.3 million seed round in 2018. TDF Ventures and Integr8d Capital have previously invested in the company.

Lead investor, Updata Partners, is based in Washington D.C. and invests in SaaS, tech-enabled service providers, and digital media and e-commerce. The HX Venture Fund, a fund-of-funds under Houston Exponential, has invested in Updata Partner's recent fund.

Ambyint's $15M series B

Ambyint, which has offices in Calgary and Houston, has secured funding from Houston venture capital firms. Photo courtesy of Ambyint

In February, Ambyint, which has an office in Houston, closed its $15 million series B funding round with support from local investors. Houston-based Cottonwood Venture Partners led the round, and Houston-based Mercury Fund also contributed — as did Ambyint's management team, according to a news release. The money will be used to grow both its Houston and Calgary, Alberta, offices and expand its suite of software solutions for wells and artificial lift systems.

"This funding round is an important milestone for Ambyint, and we're pleased to benefit from unwavering support among our investors to boost Ambyint to its next phase of growth," says Alex Robart, CEO of Ambyint, in the news release. "It is also a proof point for our approach of combining advanced physics and artificial intelligence, deployed on a scalable software infrastructure, to deliver 10 to 20 percent margin gains in a market where meaningful improvements have been hard to achieve."

Ambyint's technology pairs artificial intelligence with advanced physics and subject matter expertise to automate processes on across all well types and artificial lift systems.

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18 Houstonians land on Forbes world's billionaires list for 2025

World's Richest

The world’s richest people are wealthier now than they've ever been, and more billionaires have made it onto the 2025 World's Billionaires List than ever before, according to Forbes. This year, 18 Houston-based billionaires are among the richest people in the world, with hospitality honcho Tilman Fertitta leading as the richest Houstonian.

Fertitta, 67, ranked No. 220 overall with an estimated net worth of $11.3 billion, which steadily increased from his 2024 net worth of $9.4 billion.

In addition to owning the Houston Rockets, the busy billionaire owns Texas-based hospitality and entertainment corporation Landry's, and he authored a book about business leadership in 2019. He most recently was nominated as the new United States ambassador to Italy by President Donald Trump.

Ranking 248th overall is oil and gas chairmanRichard Kinder. Forbes estimates his net worth at $10.6 billion, up from $8.1 billion in 2024.

Kinder cofounded pipeline giant Kinder Morgan in 1997, and stepped down as CEO in 2015, though he still retains his seat as chairman of the board. The company is the largest energy infrastructure firm in the U.S., Forbes says, and it owns 79,000 miles of pipeline.

New to the 2025 list is Perry Homes executive chair Kathy Britton, whose company has built over 65,000 homes across the U.S., according to Forbes. Her late father, Bob Perry, founded Perry Homes in 1967. Britton ranked No. 1408 with an estimated net worth of $2.6 billion.

Mercedes-Benz mega-dealer Joe Agresti is another newbie to the list, ranking No. 2790 with a net worth of $1.1 billion. He owns Dream Motor Group with former football coach Nick Saban.

14 additional Houston-area billionaires that made Forbes 2025 world’s richest list are:

  • Houston pipeline heir Randa Duncan Williams: ranked No. 307 with an estimated net worth of $9.3 billion, up from $7.7 billion in 2024. Fellow pipeline heirs Dannine Avara and Milane Frantz tie for 311th nationally. Each has an estimated net worth of $9.2 billion, up from $7.6 billion. Scott Duncan ranks No. 329 with a $9 billion estimated net worth, up from $7.6 billion in 2024.
  • Houston oil tycoon Jeffery Hildebrand: ties for No. 411; $7.7 billion, down from $12.6 billion
  • Toyota mega-dealer Dan Friedkin: ties for No. 411; $7.7 billion, up from $6.4 billion
  • Houston Texans owner Janice McNair and family: No. 561, $6.2 billion, up from $5.6 billion
  • Energy exploration chief exec George Bishop: No. 717, $5 billion, up from $3.2 billion (based in The Woodlands)
  • Westlake Corporation co-owners Albert Chao, James Chao and their families:tied for No. 902, $4 billion, down from $4.9 billion
  • Hedge fund honcho John Arnold: No. 1266, $2.9 billion, down from $3.3 billion
  • Houston Astros owner Jim Crane: No. 1513, $2.4 billion, unchanged from 2024
  • Former Houston Rockets owner Leslie Alexander: tied for No. 1850, $1.9 billion, unchanged from 2024
  • Frontier Airlines chairman William Franke: No. 2623, $1.2 billion, down from $1.3 billion

Elsewhere in Texas, Austin-based billionaire Elon Musk topped Forbes' list as the world's richest person in 2025. The Tesla and SpaceX founder knocked French luxury goods magnate Bernard Arnault down to second place this year.

Forbes declared Musk the first person to reach the $300 billion status. His current net worth stands at $342 billion, which is a staggering $147 billion more than his 2024 net worth.

"It’s another record-breaking year for the world’s richest people, despite financial uncertainty for many and geopolitical tensions on the rise," said Forbes senior editor of wealth Chase Peterson-Withorn. "And, from Elon Musk to Howard Lutnick and the other billionaires taking over the U.S. government, they’re growing more and more powerful."

In Dallas-Fort Worth, Walmart heiress Alice Walton became the wealthiest woman in the world in 2025. Forbes declared Walton's net worth at $101 billion, which is $28.7 billion more than her 2024 net worth of $72.3 billion. She is now one of 15 individuals to claim 12-figure fortunes, also known as the "$100 Billion Club."

State-of-the-art innovation hub opens in Houston Energy Corridor

flagship facility

French multinational company Schneider Electric has opened a new 10,500-square-foot, state-of-the-art Energy Innovation Center in Houston.

The new facility is located in Houston’s Energy Corridor and is designed to “foster increased collaboration and technological advancements across the entire value chain,” according to a news release from the company. The new Houston location joins Schneider's existing innovation hubs in Paris, Singapore and Bangalore.

The venue will serve as a training center for process control engineers, production superintendents, manufacturing managers, technical leads and plant operations personnel. It can simulate various real-world scenarios in refineries, combined-cycle power plants, ethylene plants, recovery boilers and chemical reactors.

It includes an interactive control room and artificial Intelligence applications that “highlight the future of industrial automation,” according to the release.

"Digitalization is significantly enhancing the global competitiveness of the U.S. through continuous innovation and increased investment into next-generation technology," Aamir Paul, Schneider Electric's President of North America Operations, said in the release.

Texas has over 4,100 Schneider Electric employees, the most among U.S. states, and has facilities in El Paso, the Dallas-Fort Worth metroplex and other areas.

"This flagship facility in the Energy Capital of the World underscores our commitment to driving the future of software-defined automation for our customers in Houston and beyond,” Paul added in the release. “With this announcement, we are excited to continue supporting the nation's ambitions around competitive, efficient and cost-effective manufacturing."

Schneider Electric says the new Houston facility is part of its expansion plans in the U.S. The company plans to invest over $700 million in its U.S. operations through 2027, which also includes an expansion at its El Paso campus.

The company also announced plans to invest in solar and battery storage systems developed, built, and operated by Houston-based ENGIE North America last year. Read more here.

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This story first appeared on our sister site, EnergyCapitalHTX.com.

9 can't-miss Houston business and innovation events for April

where to be

Two new conferences will launch while another longtime business competition celebrates its 25th anniversary this month in Houston. Plus, there are networking opportunities, family tech events and more.

Here are the Houston business and innovation events you can't miss in April and how to register. Please note: this article might be updated to add more events.

​Ion Block Party: Art Crawl

Network and socialize with other tech enthusiasts and business-minded individuals while taking in the new gallery at Community Artists’ Collective and experiencing the immersive dome at Omnispace360. See work by Joel Zika, who will showcase his digital sculptures through augmented reality screens, and other public art around the Ion while also enjoying food and drink.

This event is Thursday, April 3, from 4-7 p.m. at the Ion. Click here to register.

​CLA Presents: Raising Capital over Happy Hour

Gain a better understanding of the capital-raising process and various funding opportunities at this educational happy hour. Keith Davidson, the market leader for CLA in Dallas and former CFO of ICS, will present.

This event is Thursday, April 10, from 4-6 p.m. at The Cannon. Click here to register.

Rice Business Plan Competition 

The Rice Alliance for Technology and Entrepreneurship will host the 25th annual Rice Business Plan Competition this month. Forty-two student-led teams from around the world, including one team from Rice, will present their plans before more than 300 angel, venture capital, and corporate investors to compete for more than $1 million in prizes.

This event is April 10-12. Stream the Elevator Pitch Competition and Final Round here.

RSVF Annual Conference

The Rice Student Venture Fund will host its first-ever Annual Conference to celebrate the university's entrepreneurial spirit and the rising generation of student-led innovation. The conference will include live startup demos, an RSVF fund update, a keynote fireside chat, a builder-investor panel and networking. RSVF welcomes students, alumni, investors, faculty and staff, and innovators and community members of the broader tech scene.

This event is Monday, April 14, from 4-8 p.m. at the Ion. Click here to register.

​TEX-E Conference

TEX-E will host its inaugural conference this month under the theme "Energy & Entrepreneurship: Navigating the Future of Climate Tech." The half-day conference will feature a keynote from Artemis Energy Partners CEO Bobby Tudor as well as panels with other energy and tech leaders from NRG, Microsoft, GE Vernova and TEB Tech.

This event is Tuesday, April 15, from 1-4:30 p.m. at the Ion. Click here to register.

Houston Methodist Leadership Speaker Series 

Hear from Dr. Jonathan Rogg, Chief Quality Officer and Vice President of Operations at Houston Methodist Hospital and a a practicing emergency medicine physician, at the latest Houston Methodist Leadership Speaker Series. Rogg will present "Leadership from the Bedside to the Boardroom."

This event is on Wednesday, April 23, from 4:45-6 p.m. at the Ion. Click here to register.

Ion Family STEAM Day– Let's Build a Tripwire Alarm

STEAM on Demand will host a hands-on, family-friendly engineering lesson for young ones on the Ion Forum Stairs. Kids will learn to create and test their own working alarm system. The event is geared toward those ages 7 to 14.

This event is Sunday, April 26, from 10 a.m. to noon at the Ion. Click here to register.

 Greentown Houston Fourth Anniversary Transition On Tap

Climatetech incubator Greentown Labs will celebrate its fourth anniversary with a special edition of its signature networking event, Transition On Tap. Entrepreneurs, investors, students, and friends of climatetech are invited to attend.

This event is Tuesday, April 29, from 5:30-7:30 p.m. at Greentown Labs. Click here to register.

Integrate Space Technology Into Your Small Biz

The SBA Houston District Office and the UH Technology Bridge will host a collaborative event designed to help small businesses leverage space technology for prototype development. Attendees will also hear from industry experts on resources and gain access free technical engineering assistance to help accelerate their businesses.

This event is Wednesday, April 30, from 9:30-11:30 a.m. at UH Technology Bridge Innovation Center. Click here to reserve your spot.