What companies are finding funding or having a big exit? From startup investments to grants to acquisitions, Dallas Innovates tracks what’s happening in North Texas money every Thursday. Sign up for our e-newsletter to stay in the loop.
Have a deal we should know about? Tell us here.
ReCode Therapeutics raises $1M in funding
ReCode Therapeutics, a Dallas-based development-stage medical research company, raised $1 million as part of a new funding round, the company said in a government filing.
ReCode’s goal is to raise up to $3 million.
ReCode, which was spun out of UT Southwestern Medical Center, is developing a way to deliver a treatment through a sub-microscopic particle to prevent mutations that cause diseases like cystic fibrosis, muscular dystrophy, and some cancers.
Monarc Inc. gets $700K in investments for robotic quarterback
Dallas-based robotics company Monarc Inc. has submitted Form D filings with the federal government listing multiple investments.
Monarc makes what it calls “Seeker,” billed as the world’s first robotic quarterback to aid in sports training.
In the filings, the sports technology company said that $500,000 of a $750,000 debit offering has been raised, and that two separate $100,000 investments were equity funding.
Kanarys raises $575K toward social enterprise platform
Dallas-based social enterprise technology and services company Kanarys Inc. has raised $575,000 in pre-seed funding.
The company described the funding is a necessary step to lay the groundwork to launch its platform and add data analyst and AI/machine learning talent to the team. CEO and co-founder Mandy Price told Dallas Innovates that another round of funding is anticipated to “optimize and execute on our user acquisition strategy” and platform.
Price said Kanarys was “thrilled” to have raised the more than half million dollars in funding, citing statistics that show African American female founders only raise approximately $42,000 on average, and out of the $100 billion in VC funding available, less than 0.2 percent goes to African American female founders.
Trend Forward Capital invests in workload automation software provider
Trend Forward Capital, the investment arm of Irving-based cybersecurity company Trend Micro, has invested an undisclosed amount in Turbonomic, a Boston-based provider of workload automation software for hybrid cloud.
According to FinSMEs, Turbonomic plans to use the funding to accelerate go-to-market initiatives in Asia by leveraging Trend Micro’s global relationships.
Last month at the annual Consumer Electronics Show in Las Vegas, Trend Forward Capital held a number of events, including its Forward Thinker Award that offered $10,000 cash prizes to each of six winning finalists. It’s planning a startup event in Dallas this May.
Pegasus Resources get $300M equity commitment
Fort Worth-based mineral and royalty company Pegasus Resources LLC announced that it has secured an additional $300 million equity commitment from EnCap Investments LP.
Houston-based EnCap’s investment brings its total commitment to $600 million, according to a report in PE Hub. In November 2017, Pegasus received an initial commitment of $300 million from EnCap.
Pegasus is focused on acquiring and managing mineral and royalty properties in the core of the Delaware and Midland Basins.
TPG closes Asia VII fund with $4.6B in commitments
Fort Worth- and San Francisco-based private equity firm TPG Capital has closed its latest Asia-focused fund with commitments amounting to $4.6 billion.
The fund is TPG Capital Asia VII, which has committed more than 40 percent of the capital across 12 companies, according to a report in LiveMint.
Other funding
A subsidiary of Dallas-based SWK Holdings Corp., a healthcare-focused investment firm, has entered into a $20 million senior secured term loan agreement with Cheetah Medical Inc., a Massachusetts-based provider of non-invasive fluid management devices. The money is coming from SWK Funding LLC. The money will go to retiring Cheetah’s existing debt and investing in sales and marketing efforts, PE Hub reported.
Dallas-based Lone Star Funds, a global private equity firm, announced that it has completed the final closing for its Lone Star Fund XI LP. It’s the 11th dedicated opportunity fund, with available capital of $8.2 billion, including third-party commitments and anticipated co-investments from associated entities, Lone Star said in a release.
MERGERS & ACQUISITIONS
PanOptis acquired by New York-based finance firm
Plano-based intellectual property management and finance company PanOptis has been acquired by funds managed by affiliates of New York-based Brevet Capital, a specialty finance provider that focuses on the government sector.
No financial terms of the acquisition were released.
Established in 2013, PanOptis consolidates telecommunications patent portfolios and facilitates access to technology for makers of smartphones, according to a report in PE Hub. PanOptis acquired Unwired Planet in 2016.
Investment group agrees to buy U.S. Renal Care
Plano-based U.S. Renal Care Inc. is going to be acquired by an investor group that includes Bain Capital Private Equity, Summit Partners, and Revelstoke Capital Partners.
No financial terms of the deal were release, according to PE Hub.
U.S. Renal Care is a provider of dialysis service for patients who have end-stage renal disease. It has 335 dialysis facilities in 32 states and the Territory of Guam.
READ NEXT
Funding and Exit Successes
What companies are finding funding or having a big exit? We’re tracking the deals in the Dallas-Fort Worth Innovation Guide.
Browse our funding and exit successes →
Raise a Round
Texas is home to every stage of capital that a growing company may need. Angel investors, family offices, venture capital, and private equity firms are looking to find — and invest in — great companies.
Explore funding opportunities →
Get on the list.
Dallas Innovates, every day.
Sign up to keep your eye on what’s new and next in Dallas-Fort Worth, every day.
R E A D N E X T
-
North Texas has plenty to see, hear, and watch. Here are our editors' picks. Plus, you'll find more selections to "save the date."
-
The hybrid event in August will take place in person at SMU and virtually. The seventh annual Dallas Startup Week powered by Capital One is Dallas-Fort Worth's largest event focused on driving entrepreneurial success, economic impact, and innovation in the region.
-
Two nonprofits will each receive $250,000 in grant funding. The Capital One grants are part of a $3.5 million commitment to 12 nonprofit organizations.
-
You'll find deadlines coming up for a new accelerator program; and many more opportunities.
-
In this weekly roundup of executive moves in North Texas, you'll also find news from Operation Kindness, Cooksey Communications, Munck Wilson Mandala, and StoneEagle F&I.
