Jeff Williams and Jason Story have launched Hangar Ventures. Dallas-based Hangar is a $50 million venture fund that will provide early stage funding to technology companies. Williams was the founding partner of firms including KBK Mezzanine Partners, while Story launched Mutual Mobile.
DALLAS, Sept. 2, 2015 /PRNewswire/ — Venture capital veteran Jeff Williams and Mutual Mobile founder Jason Story have joined forces to launch Hangar Ventures, a $50 million venture fund focused on early stage technology companies. Hangar will be making new investments in companies looking to raise their first round of institutional capital.
Messrs, Williams and Story believe the ecosystem and climate are perfect for a new franchise in Texas. Their thesis is supported by such well known tech investors like John Jaggers, Managing Partner of Sevin Rosen Funds and David Hunt of Hunt Technology Ventures L.P., who also believe the timing is right for not only a new franchise, but also this team.
David Hunt touts the experience of Williams and Story as a key factor in investing, “Jeff has been a VC for almost twenty years. He is very seasoned and has seen multiple economic and tech cycles, which is invaluable. Jason is a young, passionate, proven founder, who can actually develop products and has real operational experience. He’s completely immersed in the latest trends in tech. He is living it. That kind of insight is what will make Hangar unique.”
“Helping young inspiring entrepreneurs become successful is what I enjoy doing,” said Story. The launch of Hangar Ventures is one of many steps needed toward restoring the once large and prominent venture capital community in Texas. The entrepreneur communities in both Austin and Dallas will continue to thrive until there is enough capital to meet demand.
“I don’t see it as Austin vs. Dallas, I see it as a regional play that must continue to work together to build great companies,” says Williams. Texas is the perfect place to start and build a business from an economic and lifestyle perspective and long term residents like Hunt feel technology will have a long term impact on the success of the region. “More importantly, the lack of venture capital creates entrepreneur flight to areas such as silicon valley where capital is more abundant. It’s important we do everything we can to maintain a strong ecosystem here to support these entrepreneurs,” according to Williams.
About Hangar Ventures
Hangar Ventures is a venture capital firm that provides early stage funding to technology companies and is headquartered in Dallas, Texas. hangarventures.com.