A big name in the North Texas VC scene is deepening its ties in Silicon Valley. And for local startups that means potentially more networking access and new funding opportunities.
Dallas-based early-stage VC firm Perot Jain announced a new partnership with California’s FalconX, a B2B startup accelerator, in an effort to identify, grow and fund startups in the two regions, as well as across the globe.
“We will bring a strong network of corporations, particularly in North Texas, that could be potential customers or strategic partners for startups in the FalconX network,” Perot Jain Co-Founder and Managing Partner Anurag Jain told NTX Inno via email. “Further, this partnership creates a strong foothold in Silicon Valley for Perot Jain, which helps to widen our investment funnel and expands access to customers and mentors for our current portfolio.”
As part of the move, Jain will join FalconX’s board.
The partnership is meant to leverage the two organizations’ expertise to create a platform for funding and scaling startups, as well as providing greater networking between the two regions. And, with the partnership making Perot Jain a founding member of FalconX, the partnership gives the firm the opportunity to invest in companies working through the FalconX accelerator program. However, Jain said its main role will be focused on mentorship.
“While local startups may be able to tap into North Texas’s large number of corporations, this partnership will provide a direct line to Silicon Valley partners and investors, in addition to nine seasoned entrepreneurs that have experience founding and building startups around the world,” Jain wrote.
FalconX launched in 2018. The organization was created by nine co-founders, all of which have ties to the Silicon Valley investing scene or experience as startup leaders themselves. The B2B-focused accelerator targets companies that have reached at least $500,000 in outside funding or $100,000 AAR. It also looks for businesses with diverse team compositions.
Perot Jain was created in 2014 by co-founders Ross Perot Jr., who also serves as chairman of The Perot Group and Hillwood, and Jain, who chairs Access Healthcare Services. The firm counts more than 40 companies in its portfolio, including local startups Roomored, Spacee, Hypergiant and Shiftsmart. Typically, Perot Jain focuses on seed rounds with investments of $500,000 or less.
“In this uncertain time… founders should be taking stock of their current capabilities and consider whether their current roadmap has adapted to the likely permanent changes being made by their customers,” Jain wrote. “While there will always be uncertainty, this new reality should be viewed by entrepreneurs as a unique opportunity to be even more innovative and thoughtful around ways their technology can be used in different markets.”
