When I saw the name South Loop Ventures for the first time, I thought of Chicago, where I lived for almost six years-and I told Zach Ellis, the managing director and founder of the company in Houston. The company’s name refers to Houthon’s South Loop, which connects various historically diverse districts and is located near the historically black third station, Beyoncé’s birthplace. But the fact that I was thinking of my own contact point is actually something ideal.
“It’s not just Chicago, there are all of these regions across the country where there are different communities,” said Ellis, who served as a US naval officer before he was VC. “South Central Los Angeles, Southeast DC, South Philly, South Bronx, Südwestatlanta – all of these areas. They are” others “because they belong from the wrong side of the tracks, and they get these neighborhood associations. But it will also be played at this point with the idea of one of our slogans.
Ellis recently Started the first 21 million dollar fund from South Loop. The Rice Management Company and Chevron Technology Ventures served as Anchor LPS with additional support from Texas Capital Bank and the Great Commission Foundation of the Episcopal Diocese of Texas. It is a busy time for Ellis, which was only announced this week as a Kauffman scholarship holder, the long -standing VC management program for managers. He builds South Loop Ventures-Nur an hour’s drive from Galveston, where the Juneteenth holiday has its historical origins on a strategy that now looks quite rebellious: investments in entrepreneurs of colors in Houston and similar urban ecosystems that work on problems in sectors such as healthcare, organic systems and advanced material.
“I’m not doing this out of fairness,” said Ellis, who was previously a manager at CVC Pepsico Technology company and managing director at Rev1 ventures. “I make this out of the conviction that deliberate innovation is good for society. We have problems that have to be solved, and it would be a crime not to get as many brains as possible to solve these problems. Why do talent on the bench and profit leave on the bench by not investing in all?”
The South Loop portfolio currently includes the Freeze Drying company Milkify, the AI platform for Life Science AI platform Praxipro, AI-powered tax software Smartwiz and Ai Drug Discovery Platform Circnova. The company invests beyond Houston, but is a significant bet on the city and in Texas – where it is home to home Four of the ten the fastest growing counties in the USA through percentage growth. Ellis wants to build on talent, institutions and economic strength in Texas in order to achieve oversized returns in a highly potential market that remains under -supplied. When most people in Texas think of technology, they probably think of Austin – but Houston has the right ingredients to be a hub himself, he said.
“Houston has the third most common Fortune 500 companies in the country,” said Ellis. “If you think about the IT departments, the engineers from energy companies – from mechanical engineers to system engineers – the talent here. It’s all about awakening this talent.”
See you in the morning,
Allie Garfinkle
X: @Agarfinks
E-mail: Alexandra.garfinklinke@fortune.com
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Venture deals
– – Maven AgiA Boston-based Enterprise AI Agents developer collected $ 50 million in series B financing. Dell Technologies Capital led the round and was accompanied by Cisco InvestmentsPresent Dareand existing investors Lux CapitalPresent M13And E14.
– – Jet HRAn HR and wage and salary accounting process automation platform based in Milan, the € 25 million (€ 28.7 million Base10 partner.
– – multiplierA Singapore AI Professional Services developer for services collected $ 27.5 million in funds. Lightspeed Venture Partners directed the 20 million dollar series A and was accompanied by EdbiPresent SV Engeland existing investor Ribbit Capital. Ribbit led the seed round of 7.5 million US dollars and was accompanied by OperatorPresent Local globePresent Script capitalAngel investors and others.
– – SponsorA sales process automation platform based in San Francisco collected $ 20 million B-financing series. Signal fire led the Oregon Venture Fund And Tervin Ventures.
– – OnebriefAn operational planning and military workflow cloud platform based in Honolulu collected $ 20 million in series C-expansion financing of Battery company.
– – JustA car insurance company based in São Paulo collected $ 16.5 million in funds. Ribbit Capital led the round and was accompanied by porridgePresent Effort catalytic converterAnd Scale-up company.
– – TensecA cross-border financial services platform based in Palo Alto collected $ 12 million in seed financing. Costanoa Ventures led the round and was accompanied by Calm capitalPresent Willowtree InvestmentsPresent Cambrian VCand other.
– – GrifineAn investment based in Tampa through the expenditure app collected $ 11 million in series A-Financing. Nava ventures led the round and was accompanied by TTVPresent Draper AssociatesPresent Gaingelsand other.
– – TypeA AI data infrastructure for workloads based in San Mateo, California, collected $ 5.5 million in seed financing. Pear you led the round and was accompanied by Verissimo venturesPresent Monochrome activitiesPresent Tokyo Blackand angel investors.
– – SuperscaleA Ki-driven marketing solution for consumer companies based in Berlin collected $ 5 million in prepared funds. Create led the round and was accompanied by interface And S16VC.
– – Everything in foodA snack brand based in Los Angeles collected $ 4 million in funds from Obvious undertakings.
– – Other halfA PET supplement Company based in Orlando collected seed financing of $ 3 million. Willow growth led the round and was accompanied by Habitat And Off -Lash Capital.
Private equity
– – Battery company acquired a minority participation Descartes underwritingA Paris-based parametric insurer. Financial conditions have not been announced.
– – JC flowers acquired Wefox ItaliaAn InsurTech based in Milan. Financial conditions have not been announced.
– – PlaymetricsA youth sports management software provider based in Raleigh, which is supported by Blue Star Innovation Partnersmerged with StackingA sports industry provider based in Dallas, which is supported by Restart capital capitalWhat has acquired Playmetrics out of Blue Star Innovation Partners And will be the majority owner of the combined company. Financial conditions have not been announced.
– – Roima intelligencesupported by Corten Capitalacquired ConsiderateA digital manufacturing service provider based in Adelaide. Financial conditions have not been announced.
– – Thompson Street Capital Partners acquired Bubbakoos BurritosA franchisor based in NJ in Mexican fish fusion restaurants in New Jersey. Financial conditions have not been announced.
– – TurnSpire Capital Partners recapitized USG water solutionsA wealth management and rehabilitation service provider for water companies based in Atlanta. Financial conditions have not been announced.
Other
– – Lemfi acquired PillsA loan fintech based in London. Financial conditions have not been announced.
Ipos
– – Caris Bise SciensAn AI provider of oncology Precision Medicine platform based in Irving, Texas, collected $ 494 million in a offer of 23.5 million shares at 21 US dollars for NASDAQ. David D. Halbert And Sixth street Back the company.
