Tuesday, February 4, 2014

Capital Factory Scores Funding Matches From Silverton, Floodgate

Texas venture capital investors Silverton Partners and FLOODGATE have jumped on board a new effort to bolster startups at Austin's Capital Factory, saying Monday that the two will help provide $25,000 each to companies coming out of the startup incubator. The companies said that the move will bring the total amount funded in Capital Factory companies to $150,000 in total. The investments are structured as an automatic matching VC investment from both Silverton and FLOODGATE. Capital Factory said the matching investments will be made in the form of a convertible note with a $3M cap and 20% discount.