What’s Next for VC? 3 Top Texas VCs Weigh In on Present Day Investments & Future Funding

What makes Texas’ VCs tick? In today's session, Blair Garrou, Managing Partner at Mercury, leads a panel discussion with 3 Austin-based VC firms on the current investment landscape in Texas. Joining Blair are esteemed venture capitalists Craig Cummings of Moonshots Capital, Conrad Shang of Ensemble VC, and Han Shen of iFly.vc. Together, they’ll share key insights on emerging investment trends, discuss which sectors are attracting the most capital, and advise startups on navigating today’s market while achieving funding goals. This episode is part of the Software Day at the Ion series.  Key Insights & Timestamps:  [00:00]: Podcast begins   [01:07]: 2024 Venture Capital Report: Blair talks Gunderson Dettmer findings  [04:56]: Meet the Panelists: What differentiates these 3 venture funds from others?  [11:32]: Portfolios & Philosophies: iFly.vc, Ensemble & Moonshots reveal what makes them tick  [20:55]: Living in the Future? How VC funds embrace AI in the digital age  [29:10]: Market Volatility: How should investors manage uncertain financial times?  [36:03]: Audience Q&A: AI disruption, Houston investment advice & the importance of location    Key Takeaways:  “That ‘fit’ really is a big piece of the equation in our assessment,” Han Shen says, diving into iFly’s unique positioning and strategy as a solo GP. “We understand what is in it for the founders and us as investors, even before we extend a term sheet. To talk numbers, iFLY started in 2016 and over the course of the last 8 years, we’ve invested in a total of 15 companies.”  “As AI is disrupting how startups are being built, the prediction that people have is that the next multi-billion-dollar company is going to be built with five people,” Conrad Shang hypothesizes, explaining how Ensemble VC is revolutionizing their AI-first approach. “Our belief was that the same impact will also affect investing. Our high conviction model is one where AI is also going to disrupt venture.”   Guest Spotlight:  Craig Cummings  Craig Cummings is the General Partner at Moonshots Capital in Austin. Craig actively invests in technology start-ups, many of which are founded by military veteran entrepreneurs. Prior to Moonshots, Craig was the co-founder and CEO of mobile app RideScout, and was an Intelligence Officer at the NSA.    Conrad Shang  Conrad Shang is the founder and Managing Partner at Ensemble VC, based in Austin. Before founding Ensemble VC, Conrad led the $4 billion venture capital portfolio at UTIMCO. His success in venture capital was recognized by the Kauffman Fund Returner Index, where he was ranked #27.    Han Shen  Han Shen is a Founding Partner at iFly.v based in Austin. Han’s career in venture capital started in 2009 and has spanned at VantagePoint and Formation 8. Previously, Han worked for Rohm and Haas Company, the largest US specialty chemical company, where he was credited as a key inventor of 4 US patents.    Blair Garrou  Blair Garrou is co-founder and Managing Director of Mercury, an early-stage venture capital firm headquartered in Houston. Prior to co-founding Mercury, Blair worked with Intermat, Genesis Park, and the Houston Technology Center (HTC), and led the formation of the Houston Angel Network (HAN).    Resources Mentioned:  Mercury | mercuryfund.com, Moonshots Capital | moonshotscapital.com, Ensemble VC | ensemble.vc, iFly.vc | ifly.vc, Gunderson Dettmer 2024 Venture Capital Report  For More Information:  Produced by Speakerbox Media. For more episodes, visit MercuryFund.com/Content.  Stay Connected:  Blair Garrou on LinkedIn  Craig Cummings on LinkedIn  Conrad Shang on LinkedIn  Han Shen on LinkedIn