A scouring of the Internet netted stories on investment capital among DFW startups, the UT System’s winning performance for patents, and Mary Kay picks a site for its new facility.
DFW area startups attracted $72.6 million in venture capital in the second quarter of 2016, putting them on track to raise more investment money this year than the past two years, the Dallas Morning News reported. The data was released Friday in the MoneyTree Report by PriceWaterhouseCoopers and the National Venture Capital Association and was based on data from Thomson Reuters. Find out more here.
The University of Texas System has earned the top spot among the world’s top universities that receive U.S. patents for their inventions. The system was ranked fourth in 2015. Breakthroughs in technology and medicine were credited as reasons for the rise. The system has two major universities in DFW, the University of Texas at Dallas in Richardson, and the University of Texas at Arlington. The system’s UT Southwestern Medical Center also is in Dallas. You can read more here.
Mary Kay, the Addison-based innovator in the direct-sales cosmetics industry, has picked a site in Lewisville to build the new $100 million, 470,000-square-foot manufacturing and research and development facility it announced last year. The location is a 26.2-acre site on the northeast corner of Denton Tap Road and Vista Ridge Mall Drive, according to the Dallas Business Journal. Discover more here.
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R E A D N E X T
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The inaugural October 8th Texas Blockchain Summit could be a watershed event for making Texas "the jurisdiction of choice" for Bitcoin and other digital currencies. Lee Bratcher, president of the Texas Blockchain Council, will host a wide array of speakers including Texas Senators John Cornyn and Ted Cruz and Wyoming Senator Cynthia Lummis.
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Nonprofit BUiLT is hosting the event to highlight the success and possibilities of Black tech talent in the region. “There is no talent pipeline problem,” says Peter Beasley, co-founder of the Blacks United in Leading Technology International. “Black tech talent is widely available, especially in North Texas.”
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Structured as a Small Business Investment Company (SBIC) through the U.S. Small Business Administration, the fund aims to fuel the growth of privately held, lower middle market businesses in the southern U.S.—with a particular focus on businesses in Texas and the Gulf Coast.
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Founder and CEO of Capital Factory Joshua Baer declared that “Texas is the most promising technology market in the United States." Here’s why.
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Robert Covington, a former partner at RedBird Capital Partners, announced the launch of Braemont Capital, a new relationship-based investment firm with offices in Dallas and New York City. The new firm will focus on defensive growth niches in both enterprise and consumer end markets, typically investing between $25 and $200 million of equity capital.
