South Loop Ventures closes its first fund at $21 million, with Rice Management Company and Chevron Technology Ventures as anchor investors. The Houston firm, launched in 2022, backs seed and pre-seed startups with an average check of $400,000, primarily targeting founders of color and preferring sectors tied to Houston’s industrial base, including healthcare, energy, space, and climate. It has made 13 investments and aims to invest in at least 30.
Zap Energy closes a $130 million funding round led by Soros Fund Management, bringing its reported total funding to $327 million. New investors include BAM Elevate, Emerson Collective, Mizuho Financial Group, and Xplor Ventures, while Breakthrough Energy Ventures, Chevron Technology Ventures, Energy Impact Partners, Lowercarbon Capital, and Shell Ventures also participate. The Everett-based fusion startup uses a sheared-flow stabilized Z-pinch approach and says its commercial-scale reactor can generate 50 megawatts of electricity.
