Nanotechnology Now - Press Release: Houston Technology Future Fund to Launch $100 Million Venture Fund

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Abstract:
The Houston Technology Future Fund announced today their proposal to raise $100 million in venture funding for selected early-stage technologies being developed within a 30-county region. The Fund will provide equity for revolutionary technologies in the aerospace, energy, information technology, life sciences, and nanotechnology sectors.

Houston Technology Future Fund to Launch $100 Million Venture Fund

Houston, TX | Posted on April 5th, 2011

The purpose of the Fund is to provide capital for companies to take their early-stage technologies to the marketplace. The Fund's objective will be to generate income and capital gains by making controlling and non-controlling equity investments in new or established businesses.

The Fund has named John White, who has extensive experience in the venture capital sector, CEO of the General Partner. Mr. White is currently a partner at Murphree Ventures, a position he has held since 2008. In 2007, he was named Chairman of the Board and CEO of Standard Renewable Energy Group, LLC, a private equity firm based in Houston, Texas, engaged in the clean technology and renewable energy industries.

"Houston is a fertile landscape for entrepreneurship and has an extensive history of innovation. 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," stated John White, CEO and General Partner of the Houston Technology Future Fund.

The remaining members of the investment committee consist of Scott Crist, Managing Partner, Texas Ventures, J. Benton Mayberry, President, Winston Sage Partners, David McWilliams, Chair of the Board, BioHouston, Inc., Dennis Murphree, Managing General Partner, Murphree Ventures.

The Advisory Board includes J. Downey Bridgwater, Chair, Houston Technology Center Board of Directors, and president & CEO and Chairman of the Board of Sterling Bancshares Inc. and Walter Ulrich, president & CEO, Houston Technology Center in addition to three investor representatives.

"The Houston Technology Future Fund provides pivotal financing which is greatly needed to support technology innovation and commercialization in our region while offering investors the potential of superior returns," stated Walter Ulrich, president and CEO of the Houston Technology Center.

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About Houston Technology Center
Named by Forbes as one of "Ten Technology Incubators Changing The World," the Houston Technology Center provides education, insight, and access to capital that entrepreneurs need for commercialization. The Houston Technology Center is a business accelerator and the largest technology business incubator in Texas, advancing the commercialization of emerging technology companies in the greater Houston area. A 501(c)(3) nonprofit organization, HTC assists Houston-based entrepreneurs within several key sectors: energy, information technology, life sciences, nanotechnology and NASA/aerospace technologies.

About Houston Technology Future Fund:

The purpose of the Houston Technology Future Fund is to support regional entrepreneurs and to ensure the development of technology innovation for the future. The Fund will focus on and invest in early stage companies in the energy, life sciences, information technology, nanotechnology and NASA/ aerospace sectors. The Fund will work in concert with the Houston Technology Center, a Special Limited Partner of the Fund. The General Partner, HTFF- GP, LLC, is supported by an investment committee experienced in the targeted sectors.

For more information, please click here

Contacts:
Maggie Joplin
Director, Marketing and Communications
Houston Technology Center
832-476-9235

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