HOUSTON--(BUSINESS WIRE)--Softeq Development Corporation (Softeq), a Houston-based global full-stack development company serving Fortune 500 companies, today announced the launch of a $40 million venture fund to support the growth of early-stage technology startups. The Softeq Venture Fund will power the Softeq Venture Studio, a unique accelerator program that de-risks investments by combining engineering with startup formation services to help founders build real, scalable, and investable technologies.
The new fund will further expand Houston’s global influence in the tech sector and support high-potential startups seeking an infusion of capital and enterprise-focused development resources. The fund has already attracted a sizable investment from Jumana Capital, a single-family office also based in Houston.
“The Softeq team has successfully engineered, developed, and launched technology solutions for enterprise and early-stage companies for 25 years. In partnership with Softeq, we are thrilled to play a role in the creation of their new fund and to support the entrepreneurs that come to Houston to develop cutting-edge technologies and build businesses,” said Chris Martin, Managing Director at Jumana Capital.
More than half the fund will be deployed through the Softeq Venture Studio to help early-stage startups architect and build their technology for scale while shoring up their product-market fit, business affairs, go-to-market strategies, and investor pitches. The balance of the fund will be held to invest in the Seed or Series A rounds of Studio companies or to invest opportunistically. Softeq has excellent visibility into many growth opportunities due to the company’s global client base and reputation as a top-tier technology engineering resource.
“For generations, the state of Texas has been home to world-renowned tech companies who have greatly contributed to our regional success. As a local entrepreneur, advisor, and angel investor, it’s been my dream for many years to create a venture fund benefiting startups. I am proud to increase our support of the state’s early-stage tech community. Our investment fund is designed to attract tech visionaries from both inside and outside the state and grow innovative concepts in Houston,” added Christopher A. Howard, Founder and CEO of Softeq.
To learn more about the Softeq Venture Studio and submit an application for the Spring 2022 cohort, visit www.softeq.com/venture-studio.
About Softeq Development Corporation
Founded in 1997 in Houston, Texas, Softeq Development Corporation provides early-stage innovation, technology business consulting, and technical solutions to enterprise companies and innovative startups. The company’s clients are often disrupting existing industries or going through digital transformation—an effort that requires a broad range of business and technical skills. Softeq offers a full spectrum of consulting services plus full-stack software, firmware, and hardware engineering services all under one roof delivered by 400+ employees globally. The company is headquartered in Houston, Texas, and maintains sales and delivery offices in Los Angeles, London, and Munich, Germany. The company’s development centers are based in Minsk, Belarus, Vilnius, Lithuania, and Monterrey, Mexico. Softeq bridges technology gaps in knowledge-intensive projects and builds end-to-end solutions for connected devices and IT systems from the ground up. To help clients make the transition from analog to digital, the company provides expertise in various trending technologies including the Internet of Things, Artificial Intelligence and Machine Learning, Industrial Automation, Robotics, Blockchain, and AR/VR. Softeq customers include Verizon, Epson, Microsoft, Lenovo, AMD, Disney, Intel, NVIDIA, Arrival, Halo by PAWS, and others.
In 2020, the company launched the Softeq Innovation Lab to provide an environment where corporate intrapreneurs and preeminent innovators from Houston and beyond can collaborate, create the technologies of tomorrow, and expedite the commercialization of ideas. In 2021, the Softeq Venture Studio was created to help early-stage startups build their products and get follow-on funding. Learn more at softeq.com.
About Jumana Capital
Jumana Capital is a Houston, Texas based single-family office that partners with management teams and invests a permanent capital base in operating businesses, venture capital, real estate, and other public and private opportunities. The firm leverages its operational capabilities, network of executives, portfolio companies, and patient capital base to support its investment partnerships.