Monday, October 12, 2009

WSJ: Texas Venture Firms Face Challenges

Is it goodbye for the Texas venture capital market? In a report today in the Wall Street Journal, the newspaper is highlighting a drop in the amount of venture capital raised in Texas, saying that no venture firm in Texas has completed raising a new, early-stage fund this year. The newspaper points to the failure of CenterPoint Ventures, HO2 Partners, and Hook Partners in fundraising efforts, and issues with closing a new fund at Sevin Rosen, saying that the lack of venture capital fundraising in the state might be reflective of broader trends in the nation. Among the few bright spots: The Journal notes Hunt Ventures recent raise of $140M in funding last year, and says the firm is looking for investments.