The decline of the oil and gas industry could be a boon to the Dallas startup sector.
Just look at Deep Space Ventures, a new venture capital fund that’s already shelled out $1.75 million. Read more about it in the Dallas Business Journal.
Managing partner Stephen Hays said he wants to focus on Dallas startups because so much money is being funneled into that sector now.
“The opportunities to invest here are a lot more robust than I expected it to be,” Hays told Danielle Abril for the FrontBurner blog at D Magazine. “The quality of the ideas is incredible, and I’m seeing Dallas investors start to step up.”
So far, Deep Space invested $1 million to Vinli, a connected car company that started in the Dialexa Labs. The company also put $750,000 into Panamplify, a software analytics company.
Deep Space, which launched March 1, has also directed $100,000 toward the Tech Wildcatters.
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