True Wealth Ventures closes $19.1M in committed capital
Led by Sara Brand and Kerry Rupp, True Wealth Ventures has closed its first fund, raising $19.1 million to invest in women-led consumer and health tech startups. The firm first raised $4.7 million in August, 2016, and locked in another $14.4 million on Tuesday to close the round. The company will use the funding to help scale approximately 12 selected companies across the U.S. [Press Release]
Oracle announces Austin as home to its first U.S. accelerator
On Tuesday, Oracle announced it would continue to grow its Austin presence with the local launch of its first U.S. accelerator program. Joining eight other global accelerators, Austin was selected for its “strong startup and talent ecosystem.” The program offers six months of residency and access to its cloud resources and network of more than 400,000 customers. About 4,000 startups applied last year for one of 40 spots across its eight programs. [Forbes]
20+ local companies form Austin Blockchain Collective
Austin-based Wanchain, a developer of distributed financial infrastructure that runs off blockchain, has teamed up with 21 other Austin tech companies to form the Austin Blockchain Collective (ABC). The organization plans to spread local understanding and adoption of blockchain technologies to develop Austin as a leader of blockchain innovation. ABC’s executive committee includes: Pete Harris, principal of Lighthouse Partners; Dustin Byington, president of Wanchain; Tushar Jain, managing partner of Multicoin Capital; and Tiana Laurence, managing partner of Laurence Ventures. [Press Release]
E2open $300M offer to acquire Amber Road rejected
E2open submitted a proposal on Monday to acquire about $300 million worth of remaining Amber Road shares that it doesn’t already own. On Tuesday, Amber Road issued a statement rejecting the unsolicited offer citing that it would be bad for business to go private. Based out of Austin, E2open provides on-demand software for the supply chain industry, while Amber Road, a publicly traded company, creates global trade management software. [Press Release]
Mineral Soft raises $4M Series A
Last Thursday, Austin startup Mineral Soft completed a $4 million Series A round of funding, led by Cottonwood Venture Partners. The company launched in 2014 and will use the new capital to grow its marketing and sales initiatives. Existing investors Blue Bear Capital and Y Combinator also participated in the round. [Built In Austin]
