The first venture capital firm headquartered in El Paso has made its opening investments, and has raised more than $50 million, even as many venture capital firms nationwide are shrinking.
Cottonwood Capital Partners’ first fund, the Cottonwood Technology Fund, raised almost $13 million last year, according to managing director Beto Pallares.
But that number was dwarfed last week when Woody Hunt, lead investor, local heavy-hitter and businessman, committed $40 million to establish a second, as yet unnamed, fund.
“I am satisfied with the progress we have made so far,” Hunt told El Paso Inc. He is out of the country and was unavailable for further comment.
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Author: Robert Gray
