Houston Exponential, the local non-profit working to accelerate growth of Houston’s innovation ecosystem, recently named Houston-based entrepreneur, aerospace executive, and tech investor Harvin Moore as president.
The news comes just months after HX Venture Fund marked a significant milestone. The region’s first venture capital fund of funds closed a $30 million round with ten Houston companies investing as Limited Partners.
Guillermo Borda is managing partner at HX Venture Fund. Below, Borda lays out the significance of this milestone and how HX Venture Fund fits into the overall mission of Houston Exponential.
What are the primary goals for the HX Venture Fund?
The goal of HX Venture Fund is to fuel Houston’s innovation through investments in compelling venture capital funds.
As Managing Partner at HX Venture Fund, what is your primary role and responsibilities?
[I'm] responsible for managing all business functions of the fund, including capital formation, due diligence and operations.
How does it fit into Houston Exponential’s mission to position Houston as a top 10 innovation ecosystem by 2022?
HX Venture Fund is a venture capital fund of funds that creates a multiplier effect by linking the transformational power of world-class corporations, technology innovation and high-potential startups with proven venture investment talent, company-building expertise, and capital. Specifically, by identifying venture capital funds with successful track records, collaborative investment teams, and well-thought-out investment strategies, we achieve impactful returns for our corporate partners while providing the Houston startup community with support from the best venture capital funds.
In March, the Houston Exponential (HX) Venture Fund announced it made its first investment deal since closing on its initial round of funding in October. How was this deal with LiveOak Venture II a significant milestone for the region’s first venture capital fund of funds?
The HX Venture Fund portfolio will consist of a number of venture capital partnerships, including LiveOak Ventures II, which in turn invest in high-growth startups. Our portfolio funds play a crucial role in yielding returns to our Limited Partners while investing their time, talent and expertise in Houston.
What are the next major milestones for the fund?
Finalizing the fundraising process to the target $50 million. Adding three to four more venture capital funds’ investment to the portfolio before the end of 2019.