The Houston Technology Future Fund isle to raise USD100 million in venture funding for selected early-stage technologies being developed within a 30-county region.
The fund will provide equity for revolutionary technologies in the aerospace, energy, information technology, life sciences, and nanotechnology sectors.
The purpose of the Fund is to provide capital for companies to take their early-stage technologies to the marketplace. The fund’s objective will be to generate income and capital gains by making controlling and non-controlling equity investments in new or established businesses.
The fund has named John White, who has extensive experience in the venture capital sector, CEO of the General Partner. White is currently a partner at Murphree Ventures, a position he has held since 2008. In 2007, he was named Chairman of the Board and CEO of Standard Renewable Energy Group, LLC, a private equity firm based in Houston, Texas, engaged in the clean technology and renewable energy industries.
"Houston is a fertile landscape for entrepreneurship and has an extensive history of innovation. We believe the Houston Technology Future Fund will not only assist these innovations in reaching commercialisation, but will also provide a terrific return to investors," says White.
The remaining members of the investment committee consist of Scott Crist, Managing Partner, Texas Ventures, J Benton Mayberry, President, Winston Sage Partners, David McWilliams, Chair of the Board, BioHouston, Inc, Dennis Murphree, Managing General Partner, Murphree Ventures.
The Advisory Board includes J Downey Bridgwater, Chair, Houston Technology Center Board of Directors, and president & CEO and Chairman of the Board of Sterling Bancshares Inc. and Walter Ulrich, president & CEO, Houston Technology Center in addition to three investor representatives.
"The Houston Technology Future Fund provides pivotal financing which is greatly needed to support technology innovation and commercialisation in our region while offering investors the potential of superior returns," says Walter Ulrich, president and CEO of the Houston Technology Center.
