Geekdom, a San Antonio-based venture capital firm, says it's raised $20 million to invest in technology startups. The money is almost five times the amount it raised in 2014, making it the largest seed fund ever raised for technology in South Texas.
The funds came from over 60 investors across the country. Geekdom Fund Managing Director Michael Girdley says,
"We are honored that investors from across the country are making the decision to invest in tech startups via the Geekdom Fund," said Geekdom Fund Managing Director Michael Girdley, who added that almost a third of the companies, around 35, that Geekdom has invested in are based in the San Antonio area.
Jon Larsen, founder of Medspoke received $100,000 from Geekdom last year.
"I'm all about strategic investors who, yes, bring money because every startup needs capital. But also, they brought a lot of expertise," he said. "They see a lot of deals and work with a lot of startups. They're always available to provide advice."
Girdley says that with the new money, they can probably invest in at least 30 more companies.
"There is a great amount of increasing excitement about tech in San Antonio."