DALLAS – April 7, 2017 – RevTech Ventures, a retail technology accelerator focused on early-stage innovation, today announced it has received sufficient commitments to close on its largest fund to date, the RevTech Ventures Follow-On Fund. This fund is larger than RevTech Ventures’s previous funds combined, and will enable RevTech Ventures to make as many as six pre-accelerator investments and up to a dozen post-accelerator investments.
The announcement was made at RevTech Ventures’s “Tech Trends in Retail” event Thursday, April 6 at the Addison Conference Center in Addison, Texas. The event is part of the RevTech Ventures Graduate Program, which consists of a three-day market acceleration program.
“We’ve observed a recurring theme with many of our best performing accelerator graduates: as sales take off, cash plummets, and it takes three to six months (or more) to raise a VC-led seed funding,” said RevTech Ventures Managing Director, David Matthews. “Bridge funding is critical – hence, the need for the Follow-On Fund.”
“We will help accelerator graduates set and perform to milestones that make near-term funding more likely,” he continued, “and provide the critical bridge funding to carry them to that point in their development.”
In 2016, RevTech Ventures created a membership offering, similar in structure to that of an angel group. Its members meet monthly to hear presentations from top prospects, then have the opportunity to co-invest alongside the RevTech Ventures fund.
“By utilizing this structure in 2016, we were able to amplify our funding amounts more than three-fold,” Matthews noted.
About RevTech Ventures
RevTech Ventures (Retail Technology Ventures) is a Dallas-based venture accelerator and seed fund that works with the best retail, restaurant, and hospitality technology startups across the globe to accelerate their growth. We do this by attracting, mentoring, and connecting experienced entrepreneurs with viable products to talent, customers, and investors.
Our 14-week Accelerator Program provides seed funding, access to over 100 experienced mentors with backgrounds in Restaurant, Retail, VC, and Entrepreneurship and office space at the Dallas Entrepreneur Center. The program culminates with the opportunity to pitch at our Fall Tech Trends event. Our 3-day Graduate Program provides recent accelerator or incubator graduates the opportunity to take part in a variety of networking events, learning opportunities, and the ability to make several strategic connections through the RevTech Ventures network. Participants in the Graduate Program also receive a spot at our Spring and/or Fall Tech Trends event. For more information, visit www.revtechaccelerator.com.
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