After closing its initial round of funding last year, Houston Exponential's fund of funds, called the HX Venture Fund, has closed its first investment on March 29. Austin-based LiveOak Venture Partners received a $5 million investment from the fund.
The HX Venture Fund raised $30 million after launching in October of last year. The fund's goal is to invest in out-of-Houston venture funds in the hopes that they reinvest that money into Houston startups.
Image: LiveOak Venture Partners, an Austin-based firm, is the first recipient of Houston Exponential's fund of funds. Courtesy of LiveOak
