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.