The Texas Venture Growth Forum (TXVGF) held its inaugural event October 7-8, 2015 in Austin bringing together a community of over 900 Texas stakeholders to address the Series B funding gap in the Lone Star State.
In total, there were 124 one-on-one meetings between 26 B+ series company CEO’s representing over $334M in funds raised, and 32 late stage funds and investor groups that represented over $15B in assets under management. On social media, the reach of the TXVGF extended beyond the microcosm of the AT&T Center to well over 70,000 people interested in startups.
Texas State House Representative Jason Villalba, provided the keynote calling for the state to support the reseeding of the venture capital community in Texas which at one time in the 90s was robust and growing. Since the dotcom crash, the community has recovered but never fully developed a Series B level funding community. Neal Dikeman chaired the panel on Corporate VCs describing Shell Technology Ventures approach to investing in startups. One out of five VC deals are now done by a Corporate VC in the US.
The event was a tremendous success and a tangible foot forward in advancing Series B+ investments in Texas’ startup ecosystem. In the spirit of maintaining momentum, the team behind the Tech and Mobile event has been working non-stop to plan similar events in the Cybersecurity and Life Science spaces for 2016. These events will provide an opportunity that investors and CEO’s in these spaces will not want to miss.