Funds Investments to have Regional Focus
The Houston Technology Center said Tuesday that the newly created Houston Technology Future Fund plans to raise $100 million in venture capital to fund early-stage technologies in the greater Houston area.
The fund would provide equity to technology companies within a 30-county area in the aerospace, energy, information technology, life sciences and nanotechnology sectors. John White, a partner at Houston based venture capital firm Murphree Venture Partners, will serve as CEO of the fund.
“Houston is a fertile landscape for entrepreneurship and has an extensive history of innovation,†White said in a statement. “We believe the Houston Technology Future Fund will not only assist these innovations in reaching commercialization, but will also provide a terrific return to investors.â€
White will serve on the investment committee with Scott Crist of Houston-based Texas Ventures, Benton Mayberry of Houston-based Winston Sage Partners Inc., David McWilliams of BioHouston Inc. and Dennis Murphree, general managing partner of Murphree Venture Partners.
The advisory board includes J. Downey Bridgwater, HTC board chair and Sterling Bancshares Inc. (NASDAQ: SBIB) president and CEO and Walter Ulrich, president and CEO of HTC, as well as two unnamed representatives.
Source: Houston Business Journal
The City of Houston has an annual budget of nearly $4.Billion dollars! Yes, that is Billion, with a B.
Now scale that $100.Million down to an equivalent amount for a city with Evansville’s annual budget and determine what that amount would be for our community.
$5,625,000 would be the scaled number and that is $5,625,000 more than is available in Evansville. The real point is that we have ZERO.
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