Houston investment firm closes $105M energy venture fund

seeing green

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.

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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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Houston Innovation Awards honor Don Kendall Jr. with posthumous​ Trailblazer Legacy Award

lasting legacy

Every year, the Houston Innovation Awards honor one Houstonian with the Trailblazer Award, whose impact is felt throughout the city's innovation and business ecosystem.

This year, the Trailblazer Legacy Award will be given posthumously to Don Kendall Jr., who died in September while on a trip to the Republic of the Congo with the Jane Goodall Institute, one of the many organizations he was deeply involved with.

Kendall's obituary puts it simply: "Don’s truest passions were conservation and his family." Many saw those passions play out in his career, particularly in the role he played in shaping Houston's clean energy sector.

Kendall served as general partner of New Climate Ventures, a Houston-based early-stage venture capital firm that invests in next-gen energy, materials and fuel technologies and startups. The firm's portfolio includes Houston-based clean energy companies like Solidec, Syzygy Plasmonics and Rheom Materials.

Kendall was also founding managing director and CEO of Kenmont Capital LP. He ran a $500 million distressed debt and credit-based hedge fund focused on the energy, power and transportation sectors and one of the top-performing private equity funds under the Kenmont umbrella.

He served on the board of Talos Energy, American Midstream Partners, Syzygy Plasmonics, Tangent Energy, Stream Energy and others. Notably, he served as Chair of the Special Committee of the SolarCity board during its acquisition by Tesla in 2016. According to his obituary, Kendall negotiated with "Elon Musk in the middle of the night on a rickety pier in Indonesia after eluding a poisonous snake."

Outside of the clean energy space, Kendall also served on the boards of the Jane Goodall Institute, Earthwatch International and Ecological Defense Group. He also served as vice chair of the Houston Zoo Inc. and chair of its Conservation Committee.

Kendall was selected by our esteemed panel of judges to receive the 2026 Trailblazer Legacy Award. The panel includes carbon removal entrepreneur and CEO of Houston-based Mars Materials Aaron Fitzgerald.

Fitzgerald shares the profound impact Kendall had on his career and those of many others.

"Honoring Don with the Trailblazer Legacy Award is a fitting tribute to a leader whose impact spanned civic work with the Houston Zoo, wildlife conservation, and the growth of our startup ecosystem," Fitzgerald says. "He paired a keen eye for potential with the relentless drive to unlock it. For Mars Materials, his early backing carried us through a critical valley when we needed belief the most, and his presence as a personal mentor is profoundly missed."

Don was an avid traveler, cyclist and collector. He is survived by his wife of 50 years, Diane S. Kendall. A celebration of life will be held early in 2027.

2 Houston suburbs rank among 5 best cities to retire, says U.S. News

Slowing Down

Houston and nine of its suburbs are earning new acclaim on U.S. News and World Report's just-released list of the best U.S. cities for retirees in 2027. Two northern suburbs, The Woodlands and Spring, are resting easy among the top five nationwide.

The 2027 Best Places to Retire list evaluated over 850 U.S. cities based on six livability metrics that best serve American retirees: quality of life, affordability, health care, retiree taxes, job market, and population and migration. The top 250 finalist cities were then ranked nationally and by city size.

Midland, Michigan topped the list for the second consecutive year and is followed by Homosassa Springs, Florida (No. 2) and Weirton, West Virginia (No. 3).

The Woodlands and Spring respectively maintained their standings as the No. 4 and No. 5 best cities for retirees for the second year in a row. The Woodlands topped the separate list of the best midsized U.S. cities to retire, while Spring landed 5th among the smallest U.S. cities.

Houston proper was declared the No. 2 best big city for retirees, and it ranked 89th overall. Elsewhere in the metro, Pearland (No. 13) and Conroe (No. 14) ranked just outside the overall top 10 but ranked 4th and 5th among the best midsized cities for retirees.

U.S. News said affordability is the "most considered factor" when it comes to picking the best place to live a low-stress retirement life, and that's what Houston and its neighbors deliver. Affordable cities also give retirees "a sense of security and comfort as they live out their golden years," according to Megan Wood, U.S. News assistant managing editor of home services and real estate.

"It’s no secret that affordability is top of mind for Americans this year, which is why U.S. News updated its weighting criteria to better align with what retirees prioritize," Wood said. "The 2027 rankings reflect key metrics used to highlight the places that
best suit retiree needs."

Sugar Land was declared the 10th best place to live in the U.S. in a separate U.S. News report earlier this year, but it doesn't quite meet the expectations for retirees. This particular suburb ranked as the 45th best overall city to retire, but it fared better in the city size ranking and landed 13th among the biggest U.S. cities.

Pasadena also surprised as the 85th best place to retire nationwide in this report, despite being hailed as the No. 3 best city to retire in Texas by RetirementLiving.com.

Three more Houston neighbors ranked among the top 100 overall best places to retire for 2027: League City (No. 25), Missouri City (No. 49), and Baytown (No. 88).

These are the top 10 best U.S. cities to retire for 2027:

  • No. 1 – Midland, Michigan
  • No. 2 – Homosassa Springs, Florida
  • No. 3 – Weirton, West Virginia
  • No. 4 – The Woodlands
  • No. 5 – Spring, Texas
  • No. 6 – Rio Rancho, New Mexico
  • No. 7 – Altoona, Pennsylvania
  • No. 8 – Paducah, Kentucky
  • No. 9 – Lynchburg, Virginia
  • No. 10 – Palm Coast, Florida
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This article first appeared on CultureMap.com.

Air taxi network to land in 'Texas triangle' of Houston, Austin, DFW next year

taking flight

San Jose, California-based aerospace company Archer Aviation is bringing its air-taxi system to the “Texas triangle” of Houston, Austin and Dallas-Fort Worth.

Currently, the planned zero-emission electric air taxi networks will use Archer’s Midnight air taxi to “turn 60- to 90-minute drives to major airports, business districts and major destinations into 10- to 20-minute flights,” the company said in a news release. Archer plans to begin flights in the Texas triangle next year.

The Midnight air taxi is an all-electric vertical takeoff and landing (eVTOL) aircraft. It can carry four passengers and a pilot and is designed for consecutive flights of about 20 miles.

Archer cites the Texas triangle as one of the busiest and fastest-growing “megaregions” in the country due to its proximity to coastal regions, major airports, and a number of business districts.

Archer Chief Commercial Officer Nikhil Goel described the air taxi experience to CW Houston as “100 times quieter than a helicopter for the price of an Uber Black.” He added that the air taxis are a combination of a helicopter, a small airplane and a drone.

In Houston, Archer’s air taxi network will aim to connect George Bush Intercontinental, William P. Hobby and Sugar Land Regional Airport with downtown destinations, including the Thompson Hotel helipad, and Galveston.

In Austin, it plans to link the city's Austin-Bergstrom International Airport and Austin Executive Airport with the F1 Circuit Helipad at the Circuit of the Americas. Archer debuted its Midnight aircraft at the F1 Prix in the Fan Zone and the F1 Paddock at Austin’s Circuit of the Americas. The Dallas-Fort Worth network is slated to include Dallas-Fort Worth International Airport, Dallas Love Field, Addison Airport, Arlington Municipal Airport, Fort Worth Meacham International Airport and Perot Field Fort Worth Alliance Airport, plus major business hubs like Frisco Station.

“Texas is setting the bar for America’s leadership in the next generation of aviation,” Adam Goldstein, founder and CEO of Archer Aviation, said in the release. “Our planned networks will make the benefits of electric air taxis real for Texans — trading hours in traffic for minutes in the air, while connecting the biggest airports, business districts and sporting hubs in ways that America’s largest megaregion needs to grow.”

Archer is working with state and local partners to develop charging infrastructure and plans to pursue Texas operations through the White House’s eVTOL Integration Pilot Program, according to the release. It recently completed its "No Roads" flight tour, which included multiple flights over the San Francisco Bay, and flew to seven cities over three days.

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