Three new venture funds have just gotten off their feet in
Dallas in the last few months. Does this signify a positive new
trend in D/FW?
As we are approaching MedVentures 2011,
Dallas' and the Southwest's premier healthcare investment
conference on October 6th, the focus turns to funding for these
(mostly pre-revenue) startups who have been selected to present
that day. The appearance of Orix
Texas Technology & Infrastructure Fund, Remeditex Ventures and Dallas Venture Partners
(DVP) on the Dallas scene is not a coincidence to me. Lead by
Felipe Mendoza, Dennis Stone and Matt Himelfarb, respectively,
these three funds have each come about differently, but share a
common goal: To pursue great opportunities in an underserved
market. Dallas, and Texas for that matter, offers some really good
investment opportunities and exciting startups in software and
healthcare. Some of the best in healthcare will get to present at
MedVentures 2011 in October.
Orix Texas Technology & Infrastructure Fund is backed by the
publically traded firm Orix and
dedicated to pursuing Texas Technology deals, beginning with good
investment opportunities in startups which have previously received
Texas Emerging Technology Fund (ETF) money. Remeditex Ventures is
the newest fund and is pursuing very early life science and medical
device deals, primarily with IP coming out of Texas universities.
Remeditex co-invested this month in an $18M Series A round for Peloton
Therapeutics, a venture based on IP developed by Steven
McKnight. Matt Himelfarb and partners' DVP is looking for software,
gaming and cleantech deals. Remeditex and DVP are both privately
backed venture funds.
The jury is out, but with the paucity of activity from Dallas-led
venture capital in the last few years, it is hard not to be excited
about the addition of these three new funds.
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