HOUSTON-October 04, 2022 — (BUSINESS WIRE) — Softeq Development Corporation (Softeq), a Houston-based global hardware and software services development company serving Fortune 500 companies, continues its growth trajectory following on its expansion earlier this year by welcoming 22 new startups through the Softeq Venture Studio, the company’s accelerator program, bringing the total number of startups in the portfolio to 49. This cohort includes entrepreneurs from several global locations as diverse as the United Kingdom, Iceland, Mexico, and Peru.
“Investors constantly search for opportunities that balance opportunity and risk, and ones that help us grow and maximize returns while maintaining a measure of stability and diversification”.
Additionally, the Softeq Venture Fund, which has also seen explosive growth this year from new investors in several categories including family offices, investment firms, and high net worth individuals, both in and outside the United States, has announced its latest Limited Partner. Houston serial entrepreneur Craig Ceccanti, co-founder of Pinot’s Palette and sEATz, is the latest investor to join the $40M Fund which is anticipated to close by the end of 2022.
“This year has been a significant one for the Softeq Venture Fund and our portfolio companies. Due to the hard work of our team and the success achieved by previous founders, we’ve seen our investors and our entrepreneurs evolve to be more global than ever, and with more ambitious plans to revolutionize their industries. We continue to attract world-class founders to Houston for our program that de-risks startups and investments,” said Christopher A. Howard, founder and CEO of Softeq.
On the forefront of emerging consumer demand for health and wellness, the H2 2022 cohort includes a number of entrepreneurs focused on med tech and sports tech along with others focusing on the technologies and tools that enable these industries to thrive, including fin tech, eCommerce, and Web 3.0 applications.
“Investors constantly search for opportunities that balance opportunity and risk, and ones that help us grow and maximize returns while maintaining a measure of stability and diversification,” said Craig Ceccanti. “Joining the Softeq Venture Fund is an exciting opportunity because it provides a de-risked investment opportunity plus the ability to participate in a hands-on fashion in Houston within these high-growth industries.”
As part of the most recent effort, the 22 new startups will receive mentoring support and guidance throughout the three-month program from the Softeq Venture Studio staff, Softeq engineers, local mentors, investors, and earlier cohort members at FUSE Workspace in Houston, a co-working space.
“During our startup journey, we participated in leading technology accelerator Y Combinator. Later on, we realized through our users’ feedback we needed to improve our product with additional technology expertise and support to reach our full potential,” said Gerardo Briones, founder and CEO of startup Pagaloop of Mexico City. “That’s why we chose to participate in the Softeq Venture Studio. Softeq engineers have experience building enterprise-grade applications that scale up. We also get more opportunities to meet investors to bring our product to all of Latin America.”
The latest news builds on earlier funding activity. In early August, Softeq announced an additional commitment of $5 million to the Softeq Venture Fund and the creation of a satellite venture studio from a new group of venture capital investors in New Hampshire. To date, the Softeq Venture Fund has raised more than $25 million, surpassing the halfway mark of the fund’s $40 million goal.
The upcoming H2 2022 cohort of the Softeq Venture Fund includes the following companies:
To learn more about the Softeq Venture Studio and submit an application for the upcoming H1 2023 cohort, visit www.softeq.com/venture-studio.