The Texas Tech Research Park Inc. has announced a collaboration with Seraph and the Lubbock Angel Network (LAN) to launch the research park’s first venture capital fund. Named the Seraph Hub Fuel Fund, it is described as the region’s first $10 million seed fund. The focus will be on accelerating business success of high-tech start-ups and emerging companies in the agriculture sector that can scale and provide return to investors.
According to its website, the Seraph Group brings together successful individuals who share a passion for investing in technology startups. Opportunists join Seraph for a managed and curated portfolio of 20+ companies, for the ability to co-invest on a deal-by-deal basis and for the opportunity to work with entrepreneurs.
Other collaborators in the new effort include the Lubbock Chamber of Commerce, Plains Cotton Growers, Lubbock Economic Development Alliance, City of Lubbock, U.S. Department of Commerce Economic Development Administration, and Plains Cotton Cooperative Association.
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