Dallas’ retail technology accelerator RevTech announced its largest fund to date.
The accelerator announced a $1 million Follow-On Fund, which is larger than all of its previous funds combined. The new funding will allow it to make up to six pre-accelerator investments and up to a dozen post-accelerator investments. The fund will be used for bridge rounds that will help startups survive the gap between accelerator investments and venture capital seed rounds, said David Matthews, RevTech’s managing director. That time span can last six months or more, he said.
Matthews will make the announcement at the accelerators Tech Trends in Retail event Thursday. The news comes after RevTech announced a new structure, offering a membership-style group. The structure provides members monthly presentations from top RevTech startups, allowing them the opportunity to co-invest alongside the accelerator. Matthews said the new structure aided in tripling the accelerator’s funding amounts.
RevTech is a Dallas-based 14- week accelerator program that provides seed funding, mentorship, and office space at the Dallas Entrepreneur Center. It also offers a three-day graduate program for incubator and accelerator graduates the chance to network, learn, and make connections through RevTech’s network. Graduate program participants also are offered a spot in RevTech’s semi-annual Tech Trends event.