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May 21, 2025 - Deals
South Loop Ventures Secures $21 Million Fund With Investments From Rice Management Company And Chevron Technology Ventures
South Loop Ventures, founded and led by Zach Ellis, recently closed its first fund at $21 million to boost Houston’s local tech ecosystem, with anchor investments from Rice Management Company and Chevron Technology Ventures. Launched in 2022, the firm focuses on seed and pre-seed rounds averaging $400,000, prioritizing founders of color and sectors aligned with Houston’s industrial strengths like healthcare, energy, space, and climate. Despite a challenging 24-month fundraising process, South Loop has made 13 investments so far and aims to back at least 30 startups nationwide, driven by Ellis’s mission to increase diversity and opportunity in venture capital while fostering Houston as a welcoming hub for tech talent.
INVESTORS: Rice Management Company, Chevron Technology Ventures, Texas Capital Bank, The Great Commission Foundation of the Episcopal Diocese of Texas & Mercury Fund
AMOUNT: $21,000,000
HQ: #Houston #Texas
#VentureCapital #SouthLoopVentures #ZachEllis #RiceManagementCompany #ChevronTechnologyVentures #TexasCapitalBank #TheGreatCommissionFoundationoftheEpiscopaDioceseofTexas #MercuryFund #TradedVC
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Colossal Biosciences In Talks For Funding Round Targeting $23 Billion ValuationColossal Biosciences, the de-extinction biotech startup known for its efforts to recreate the woolly mammoth and other extinct species, is reportedly in talks to raise new funding at a valuation of roughly $23 billion–$24 billion, according to Axios. The potential raise would mark a significant jump for the five-year-old company, with investors valuing not only its genetic-engineering programs but also its broader genomics, reproductive technology, conservation, and intellectual property platform. Colossal has begun generating revenue through conservation technology sales and technology spinouts, including Astromech, an AI-driven predictive modeling company, and Form Bio, a computational biology platform, expanding its value beyond de-extinction efforts.
FOUNDERS: Ben Lamm & George Church
TARGET VALUATION: $23,000,000,000
HQ: Dallas, Texas
#VentureCapital #ColossalBiosciences #BenLamm #GeorgeChurch #TradedVC