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January 13, 2021

HX Venture Fund raising $75M for second fund-of-funds

HX Venture Fund, which aims to grow Houston's venture capital ecosystem, is raising money for its second fund-of-funds.

HX Venture Fund is raising $75 million from institutional limited partners for HX Venture Fund II, managing partners Sandy Guitar and Guillermo Borda told the Houston Business Journal. The fund-of-funds will have a series of rolling closes, but HX Venture Fund expects to roll in a majority of its investors over the year, Borda said.

HX Venture Fund's second fund-of-funds has received seven subscription agreements so far, including from three of its original limited partners: Kingwood-based Insperity Inc. (NYSE: NSP), Houston-based Camden Property Trust (NYSE: CPT) and Houston-based Quanta Services Inc. (NYSE: PWR). Two of the anchor investors, Insperity and Camden, have come onto HX Venture Fund II at three times the size of their contributions to the original fund, Borda said.

Read the entire article by Chris Matthews in the Houston Business Journal.