Veriten has closed a $105 million venture fund to support the "future energy world." Photo via Pexels.

Houston-based investment firm Veriten has announced the initial close of its second flagship energy venture fund with more than $105 million in capital commitments.

Fund II will build on Veriten’s initial fund and aim to support “scalable technology solutions for energy, power and industrial applications,” according to a company news release.

"Our differentiated network, research-driven process, and first principles approach to investing are having an impact across multiple verticals including traditional energy, electrification, and industrial technology. Fund II builds on that platform,” John Sommers, partner, investments at Veriten, added in the release. “In this environment, the differentiator isn't capital – it's all about connectivity, deep sector expertise, and an economically-driven approach. As new technologies and approaches develop at breakneck speed, the need for more reliable, affordable energy and power continues to grow dramatically. The current backdrop accentuates the need for Veriten's solution."

Veriten is supported by over 50 strategic partnerships in the energy, power, industrial and technology sectors, including major players like Halliburton and Phillips 66.

"Veriten continues to build a differentiated platform at the intersection of energy, technology and industry expertise," Jeff Miller, chairman and CEO of Halliburton, said in the release. "We were early believers in the team and their ability to identify practical solutions to real challenges across the energy value chain. As all industries increasingly adopt digital tools, automation and AI-enabled technologies to improve performance and execution, we are proud to partner with Veriten again to help accelerate high-impact solutions across the broader energy landscape."

Veriten closed its debut fund, NexTen LP, of $85 million in committed capital in October 2023. It was launched in January 2022 by Maynard Holt, co-founder and former CEO of the energy investment bank Tudor, Pickering, Holt & Co.

It has invested in Houston-based AI-powered electricity analytics provider Amperon and led a $12 million Seed 2 funding round for Houston-based Helix Technologies to scale manufacturing of its energy-efficient commercial HVAC add-on earlier this year. In the past year it has contributed to funding rounds for San Francisco-based Armada and Calgary-based Veerum.

Veriten also named Nick Morriss as its new managing director earlier this month. Morriss most recently served as vice president of business development at next-generation nuclear technology company Natura Resources and spent nearly 20 years at NOV Inc.

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

The Artemis Fund, which focuses on providing access to capital to women-led companies, made its first investment. Getty Images

New Houston venture capital firm makes first investment

Follow the money

The new female-founded venture capital fund that launched in Houston in April has made its first investment. The Artemis Fund led Burbank, California-based U-Nest's $2 million Seed round.

U-Nest is a user-friendly app that allows for users to create a 529 college savings plan in less than five minutes and $25. This tool provides access to financial tools that previously were only available to wealthy families who could afford financial advisers.

Syndicate partners, including The Draper Dragon Fund, Band of Angels, and Pasadena Angels, also contributed to the round.

"I'm very excited that The Artemis Fund has led my seed round because they've proven to be an amazing partner that brings a lot of value to the company beyond the money," says U-Nest founder, Ksenia Yudena, in a news release. "During the fundraising process, they made a lot of strategic introductions to the partners and advisers that helped us grow the business. They also coordinated the due diligence with other co-investors that made the process very smooth."

Prior to launching her startup, Yudena managed $1.2 bullion in business as vice president at Capital Group America Funds, and she has over 10 years of experience in financial services.

"I believe that we need more female led funds, because they understand the needs and struggles of the female founders," Yudena continues in the release. "We're on the same page in all matters related to the fundraising and building the successful company."

The Artemis Fund was founded by Stephanie Campbell, Leslie Goldman, and Diana Murakhovskaya, all of whom have years in investment experience from various institutions across the country and here in Houston. The three women wanted to provide a platform to funnel funds to female-founded startups that are constantly overlooked by other VC funds. Only 2 percent of funding from VC firms goes to women-led institutions, the release cites.

Goldman was introduced to the U-Nest team through one of the startup's advisers.

"We are thrilled to announce this as our first investment," Goldman says in the release. "We just need 14 more founders like Ksenia. With her drive, determination, deep expertise in this area, and her ability to attract top, seasoned talent, she sets the bar high for us as we look for additional portfolio companies."

U-Nest's mission of making financial information more accessible to families who need it most was especially attractive for the fund.

"Through her experience, [Yudena] saw a real world need for access to education planning and developed an incredibly impressive product to meet that need," Goldman continues in the release. "U-Nest squarely aligns with the Artemis thesis: stellar management team, traction with a product that will have tremendous impact on people's lives, scalable with a large addressable market opportunity, and a realistic exit strategy that can produce outsized returns."

Peter Mansfield serves as U-Nest's chief marketing officer and previously served as a consultant to Marqeta, which has a slew of successful clients — to the tune of Square, Affirm, DoorDash, Kabbage and Instacart — and recently closed a Series E valuation of $2 billion.

"We couldn't be more excited to have Artemis lead our round. From our first meeting it was clear that The Artemis Fund team understood our mission to eradicate the college loan crisis and shared our desire to champion women entrepreneurs," Mansfield says in the release. "The Artemis Fund is a perfect fit for U-Nest."

The Artemis Fund was founded by Diana Murakhovskaya (left), Leslie Goldman (center), and Stephanie Campbell.Courtesy of The Artemis Fund

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Rice University launches new venture fund for university-affiliated startups

startup support

Rice University has launched its new One Giant Leap Ventures Fund I, which will invest in the university’s spinouts and alumni-founded startups.

The early-stage institutional venture fund will function with a hybrid structure that allows for participation from traditional equity investors and philanthropic investors. According to the university, the fund will invest up to $500,000 per Rice-affiliated company.

To be considered eligible for funds, companies must use intellectual property licensed by the university or be led or founded by alumni.

One Giant Leap will draw on support and mentorship from Rice’s pool of 60,000 alumni and aims to create educational opportunities within the investment phases, work with graduate and undergraduate venture students, explore the scaling and commercialization of their ideas, and help investigate all the facets of venture capital.

“Rice alumni bring an extraordinary depth of experience as entrepreneurs, investors and industry leaders, and One Giant Leap creates new ways to put that expertise to work for the next generation of Rice innovators,” Stephen Bayer, vice president for development and alumni relations, said in a news release. “It strengthens the connection between our alumni and the university while giving them meaningful opportunities to mentor, advise and support Rice-affiliated companies as they grow.”

The fund held its first close in August and made its first investment into Rice brain health spinout Motif Neurotech. Led by Rice faculty member Jacob Robinson, Motif is working to commercialize a minimally invasive neurostimulator that targets treatment-resistant depression. In May, the FDA approved the company to move forward with its first clinical trial.

“Research produces breakthrough technologies and our academic environment forms outstanding entrepreneurs,” said Adrian Trömel, the fund’s managing director, a Rice alumnus and a startup founder who also serves as Rice’s interim chief innovation officer.

One Giant Leap joins the already long list of Rice-led programs that foster innovation, including the Liu Idea Labs for Innovation and Entrepreneurship’s Innovation Fellows and Summer Venture Studio, the Rice Alliance’s Business Plan Competition, the Ion District, Woodside Rice Decarbonization Accelerator, Rice Nexus, the Biotech Launchpad and RBL Ventures and its upcoming 200,000 square-foot research lab the Arc.

“With One Giant Leap, I am excited that we are creating a unique structure that brings together traditional investment and philanthropic participation to invest in and help catalyze our startups, engage the deep expertise within the Rice ecosystem and transform those strengths into real-world impact,” Trömel added in the release.

New statewide plan aims to eliminate cervical cancer in Texas by 2032

fighting cancer

MD Anderson, on behalf of a coalition of health systems, has announced a new plan to eliminate cervical cancer in Texas.

The five-year Texas Lone Star Cervical Cancer Elimination Plan was launched during the Cancer Prevention and Research Institute of Texas (CPRIT) 2026 Innovations Conference in Galveston this month.

The plan focuses on three major pillars with goals to be achieved by 2032:

  • HPV vaccination: Increase the percentage of Texas boys and girls up to date on human papillomavirus (HPV) vaccination by age 15 from 50.5 percent to 80 percent
  • Cervical cancer screening: Raise the share of Texas women up to date on cervical cancer screening from 64 percent to 80 percent
  • Timely follow-up, diagnosis and treatment: Ensure 80 percent of women receive diagnostic follow-up and treatment when needed through community outreach, patient navigation, provider training and survivorship support

Overall, the coalition wants to see fewer than four new cases of cervical cancer annually per 100,000 Texas women by 2032, according to a news release from MD Anderson. Currently, Texas has an incidence rate of 9.5 women per 100,000 diagnosed with cervical cancer, compared with 7.5 women per 100,000 nationally.

“Texas has the tools to prevent nearly every case of cervical cancer, but tools can save lives only when people can utilize them,” Dr. Ernest Hawk, vice president and division head of Cancer Prevention and Population Sciences at MD Anderson, said in the release. “The Lone Star Cervical Cancer Elimination Plan gives us a shared roadmap to vaccinate more of our children, screen more of our women and make sure every abnormal result leads to care. With innovations like HPV self-collection and the commitment of partners across the state, elimination is within reach.”

About 40 other hospitals, health care organizations and companies join MD Anderson in the coalition that launched the Lonestar Plan. Those based in Houston include Houston Methodist, Rice University, UTHealth Houston, Texas Children's Hospital, Houston Health Department and others.

The CPRIT also announced its Texans Conquer Cancer Awards and its CPRIT Champion awards during the Innovations Conference this week. Several are based in Houston, including:

  • Zhiqiang An, co-founder of CrossBridge Bio, Director of the Texas Therapeutics Institute, and Vice President of Drug Discovery at the University of Texas Health Science Center at Houston
  • Dr. Abbey Berenson, Director of the UTMB Center for Interdisciplinary Research in Women's Health Care
  • Dr. Michael Taylor, Chair of Pediatric Neuro-Oncology at Texas Children's Cancer and Hematology Center and Director of Texas Children's Pediatric Brain Tumor Research Program

To date, the CPRIT has awarded more than $4.2 billion in grants to fight cancer in the state. Over the summer, it awarded four $2 million grants to institutions in Houston and Bryan for the creation or expansion of “core” cancer research facilities.

Texas Medical Center Innovation recently announced that its $2 million grant would renew its Accelerator for Cancer Therapeutics for five years. Read more from TMCi about the renewal here.

Announcing the 2026 Houston Innovation Awards finalists

Inspirational Innovators

InnovationMap is proud to reveal the finalists for the 2026 Houston Innovation Awards.

The sixth annual Houston Innovation Awards program returns in an all-digital format this fall to honor the best of Houston's innovation ecosystem, including startups, entrepreneurs, mentors, and more.

Finalists were determined by our esteemed panel of judges, comprised of past award winners and InnovationMap editorial leadership.

The panel reviewed applications across 10 prestigious categories to determine our finalists. They will select the winner for each category, except for Startup of the Year, which will be chosen by the public via online voting launching later this month.

We will announce the honoree of our annual Trailblazer Award in the coming weeks, then stay tuned as we unveil all of this year's winners on InnovationMap.com in mid-November.

Get to know our finalists in more detail through editorial spotlights leading up to the winner announcement. Without further ado, here are the 2026 Houston Innovation Awards finalists:

Minority-founded Business

Honoring an innovative startup founded or co-founded by BIPOC or LGBTQ+ representation:

  • AI Made Fun
  • Deep Anchor Solutions
  • HEXAspec
  • Prana Surgical
  • Torres Orbital Mining Inc.

Female-founded Business

Honoring an innovative startup founded or co-founded by a woman:

  • Adair
  • ARIX Technologies
  • Bairitone Health
  • FlowCellutions
  • ParaDocs Health

Energy Transition Business

Honoring an innovative startup providing a solution within renewables, climatetech, clean energy, alternative materials, circular economy and beyond:

  • Capwell Services
  • FlowCellutions
  • Hertha Metals
  • Mars Materials
  • Solidec

Health Tech Business

Honoring an innovative startup within the health and medical technology sectors:

  • Bairitone Health
  • InformAI Inc.
  • Prana Surgical
  • Skybound MedTech

Deep Tech Business

Honoring an innovative startup providing technology solutions based on substantial scientific or engineering challenges, including those in the AI, robotics and space sectors:

  • Casimir
  • Focis AI
  • Machine Saver Inc.
  • Square Robot
  • Venus Aerospace

Startup of the Year (People's Choice)

Honoring a startup celebrating a recent milestone or success. The winner will be selected by the community via an online voting experience:

  • Fluxworks
  • IronLattice
  • Lumino
  • Progress Report
  • Rosarium Health
  • Thread
  • TokenRoster

Scaleup of the Year

Honoring an innovative later-stage startup that's recently reached a significant milestone in company growth:

  • Erock
  • Hertha Metals
  • Venus Aerospace

Incubator/Accelerator of the Year

Honoring a local incubator or accelerator that is championing and fueling the growth of Houston startups:

  • Activate
  • Impact Hub Houston
  • MarMo Innovation

Mentor of the Year

Honoring an individual who dedicates their time and expertise to guide and support budding entrepreneurs:

  • Al Danto, Rice University
  • Eric Rubenstein, New Climate Ventures
  • Jeremy Pitts, Activate
  • Joe Alapat, Liongard
  • Kyle Judah, Rice University's Liu Idea Lab for Innovation & Entrepreneurship
  • Rachel Bickham, Bickham Services Unlimited LLC

Trailblazer Recipient

  • To be announced