Time to Grow

Houston entrepreneur encourages improvement during a difficult time

VPC founder Claudio Gutierrez. Courtesy photo

Flexibility has always been a core component of Valens Project Consulting, but the unpredictable last year — as COVID-19 has ravaged the economy and oil industry, especially — has strengthened that vital skill even more.

"As the lockdown loomed and predictions of a closed economy foretold the massive loss of business, I was ready to hunker down and expect the loss of 100 percent of our customers," says VPC's owner and founder Claudio Gutierrez. "But by May, VPC had lost only a quarter of our customers, and by September we were down by just 50 percent — not nearly the disaster I had been prepared for."

Gutierrez understood that this situation was ultimately temporary, and when they were able to, these accounts would return as customers — with no hard feelings from his end.

Instead, VPC focused on what it could do to improve its own operations during the pandemic, and top of the list was growing the staff. Since the worst of the lockdown, VPC has expanded its permanent engineering resources in a variety of disciplines, including electrical engineer, process engineer, and reservoir engineer.

Its industries have expanded, too. VPC started out mainly in the engineering field, taking on project management, process improvement, cost reductions, and more on a contract basis.

Now, after a slight COVID delay, it has expanded its base of fabrication and industrial distribution companies to include those offering disaster relief (such as temporary emergency housing), automation companies, and construction companies.

VPC is even venturing into public projects, with a few in partnership with Harris County currently in the works.

Gutierrez also focused on the value of face-to-face meetings by traveling to seek out new markets, and now supports projects in Florida, Washington, and Louisiana. Next on the docket: expanding outside the U.S. and into Latin America.

But until these global plans can be realized, Valens Project Consulting has been organizing virtual activities and developing a podcast presence. You might have spotted them on LinkedIn, where Gutierrez's personal network has grown significantly and VPC has been adding followers daily.

The importance of in-person networking has not been lost on Gutierrez, however. He makes sure all precautions are in place for both his staff and clients, and that everyone's safety is top of mind.

"I've become an advocate for in-person meetings," he says. "I don't want virtual meetings to become 'the new normal.'"

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Visit the website learn more about Valens Project Consulting or its offshoot, Potens Energy.

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Originally expected to raise $150 million, Mercury's latest fund is the largest raised to date. Photo via mercuryfund.com

A Houston venture capital firm has announce big news of its latest fund.

Mercury, founded in 2005 to invest in startups not based in major tech hubs on either coast, closed its latest fund, Mercury Fund V, at an oversubscribed amount of $160 million. Originally expected to raise $150 million, Fund V is the largest fund Mercury has raised to date.

“We are pleased by the substantial support we received for Fund V from both new and existing investors and thank them for placing their confidence in Mercury,” Blair Garrou, co-founder and managing director of Mercury Fund, says in a news release. “Their support is testament to the strength of our team, proven investment strategy, and the compelling opportunities for innovation that exist in cities across America.”

The fund's limited partners include new and existing investors, including endowments at universities, foundations, and family offices. Mercury reports that several of these LPs are based in the central region of the United States where Mercury invests. California law firm Gunderson Dettmer was the fund formation counsel for Mercury.

Fresh closed, Fund V has already made investments in several companies, including:

  • Houston-based RepeatMD, a patient engagement and fintech platform for medical professionals with non-insurance reimbursed services and products
  • Houston and Cheyenne Wyoming-based financial infrastructure tech platform Brassica, which raised its $8 million seed round in April
  • Polco, a Madison, Wisconsin-based polling platform for local governments, school districts, law enforcement, and state agencies
  • Chicago-based MSPbots, a AI-powered process automation platform for small and mid-sized managed service providers

Mercury's investment model is described as "operationally-focused," and the firm works to provide its portfolio companies with the resources needed to grow rapidly and sustainably. Since 2013, the fund has contributed to creating more than $9 billion of enterprise value across its portfolio of over 50 companies.

“Over the past few years there has been a tremendous migration of talent, wealth and know-how to non-coastal venture markets and this surge of economic activity has further accelerated the creation of extraordinary new companies and technology," says Garrou. "As the first venture capital firm to have recognized the attractiveness of these incredible regions a dozen years ago, we are excited to continue sourcing new opportunities to back founders and help these cities continue to grow and thrive.”

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