The Texas Research & Technology Foundation and Alamo Angels will merge as a means to increase funding opportunities for local startups.
Under the merger agreement, Alamo Angels, a San Antonio-based investor group, will operate as an affiliated nonprofit under TRTF.
Alamo Angels Chairman Dr. Amit Mehta said the integration with TRTF will provide the organization “immense resources, infrastructure and reach” that will allow it to identify additional investors help more startups.
Mehta added that the merger will “exponentially improve the value offering” Alamo Angels provides its membership.
Alamo Angels was founded less than four years ago. It’s comprised of San Antonio leaders who board member Rahul Patel said came together to build a larger and stronger startup ecosystem. The support from TRTF, he believes, it critical.
“Just like our startups, foundations need additional tools, resources, and partners to achieve the next level of success and growth,” Patel said. “With the added resources, experience and leadership of TRTF, Alamo Angels is poised to not just be a San Antonio success story, but a nationwide pioneer in the angel investing space.”
The merger with Alamo Angels represents a first step for TRTF in expand on its goal of providing early-stage funding to more companies in the area. As seed and venture capital are critical elements needed to grow San Antonio’s innovation sector, TRTF will work to help expand Alamo Angels’ access to capital and network capabilities, building greater deal flow.
As a result of the agreement, Alamo Angels will establish its headquarters in TRTF’s new VelocityTX Innovation Center, a state-of-the-art center for entrepreneurs and expanding businesses on the site of the former Merchants Ice complex on E. Houston Street.
TRTF officials said the integration allows both organizations to jointly focus on development of a stronger network of capital and mentors needed to generate more startup activity in San Antonio.