(POD)CAST OF CHARACTERS

Friday Feature: Live from the Launch of EnergyCapitalHTX

HETI leadership shares their excitement at the launch of the newest site from Gow Media. Photo courtesy of Marco Torres.

While the main room buzzed with excitement for the premiere of EnergyCapitalHTX.com, Michael O'Sullivan, host of the podcast Oilfield Ingenuity from the Oil and Gas Global Network (OGGN), snagged a few guests at last week's launch party for a quick conversation about the newest site from Gow Media.



In this brief clip, Bobby Tudor, founder and CEO of Artemis Energy Partners and chairman of the Houston Energy Transition Initiative, discusses the strengths and expertise Houston offers to the energy industry. Additionally, Jane Stricker, senior vice president and executive director of the Houston Energy Transition Initiative (HETI), shares the perspective held by over 20 companies backing HETI regarding the future of the energy industry.

To hear from others that sat down with Michael during the event, head on over to Oilfield Ingenuity for episode 174.

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A View From HETI

PitchBook attributes $634 million in fourth-quarter VC to Fervo. Photo via Getty Images

The venture capital haul for Houston-area startups jumped 23 percent from 2023 to 2024, according to the latest PitchBook-NVCA Venture Monitor.

The fundraising total for startups in the region climbed from $1.49 billion in 2023 to $1.83 billion in 2024, PitchBook-NVCA Venture Monitor data shows.

Roughly half of the 2024 sum, $914.3 million, came in the fourth quarter. By comparison, Houston-area startups collected $291.3 million in VC during the fourth quarter of 2023.

Among the Houston-area startups contributing to the impressive VC total in the fourth quarter of 2024 was geothermal energy startup Fervo Energy. PitchBook attributes $634 million in fourth-quarter VC to Fervo, with fulfillment services company Cart.com at $50 million, and chemical manufacturing platform Mstack and superconducting wire manufacturer MetOx International at $40 million each.

Across the country, VC deals total $209 billion in 2024, compared with $162.2 billion in 2023. Nearly half (46 percent) of all VC funding in North America last year went to AI startups, PitchBook says. PitchBook’s lead VC analyst for the U.S., Kyle Stanford, says that AI “continues to be the story of the market.”

PitchBook forecasts a “moderately positive” 2025 for venture capital in the U.S.

“That does not mean that challenges are gone. Flat and down rounds will likely continue at higher paces than the market is accustomed to. More companies will likely shut down or fall out of the venture funding cycle,” says PitchBook. “However, both of those expectations are holdovers from 2021.”

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This story originally appeared on our sister site, InnovationMap.com.

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