We invest primarily in Texas-based businesses. Industries we know and understand
include semiconductor, electronics, software, material science,
manufacturing, medical device and some life sciences.
We invest in both
technology-based venture deals as well as more traditional private
equity opportunities. On occasion we are the lead founding investor
and take an active role in management to help launch the business. Private equity transactions vary in size and structure but include buyout (with modest leverage), M&A and special situation.
Given the current economic landscape, we
will also consider corporate spin-outs and distressed asset
transactions that make sense. Opportunities to acquire and turnaround troubled companies is of particular interest.
In all
cases we look for compelling business economics, material competitive
advantages, well-defined market dynamics, asymmetric risk-reward
characteristics and a quality team from which to build a competitive, thriving business.