San Antonio’s Geekdom Fund Just Raise Another $20M Dollars
Geekdom Fund, the San Antonio based VC fund that invests in tech startups just announced that they’ve raised another $20 million dollars. The fun was founded by successful serial entrepreneur Michael Girdley along with Don Douglas, Mike Troy and Cole Wallak in 2014. They closed their first round of $3.4 million in 2015. In 2016 they raised $6.6 million from 35 investors. This year the fund has raised $20 million with nearly 80 investors participating.
The San Antonio based fund is doing wonders for the local startup community. One of their investments this past year was for the RealCo accelerator, a revolving accelerator co-founded by Girdley. The fun has also invested several central Texas based startups although they also invest outside of Texas as well.
Xconomy reports that Geekdom Fund has invested in “, Merge VR, Medspoke, and Patient IO, a healthcare app that was bought last year by Watertown, MA-based Athenahealth. Two other investments were also acquired: San Antonio-based SeatSmart was purchased by New York-based TicketIQ, while a San Francisco-based software maker that did business as Worklife was bought by Cisco.”
With the progress San Antonio is making, coupled with the startup activity in Houston, Dallas and of course Austin, people are getting excited.
“I think people, when we talk to them about being a part of this journey with us, they’re excited about what’s going on on Houston Street. They’re excited about what’s happening in Austin. Houston is starting to come on line with real tech growth,” Girdley says.
One of their newer investments, Dauber, is solving major problems for construction, specifically for dump trucks. The San Antonio based startup was one of the first accepted into the RealCo Accelerator. Boston based Sea Machines is another recent investment, they are working on autonomous navigation systems for the shipping industry.
Geekdom Fund has invested in around 30 deals to date and had three significant exits so far.