ORIX USA Corporation announces the creation of ORIX Texas Technology & Infrastructure Fund to provide capital for technology and infrastructure projects in Texas.
With over $200 million of committed capital and a board comprised of senior investment professionals at ORIX USA, ORIX Texas Technology & Infrastructure Fund is positioned to step into the void created by a reduction in state funding for the Texas Emerging Technology Fund and reduced state and federal budgets for local infrastructure projects.
The fund plans to work with the existing network of Regional Centers for Innovation and Commercialization (RCIC) and their boards, beginning with the North Texas RCIC. In a departure from current Emerging Technology Fund policy, ORIX also will seek commercialization opportunities to support business growth in Texas – including the expansion or relocation of existing businesses.
The Fund will also provide funding to municipal and other governmental agencies for infrastructure and other public projects.“Infrastructure – roads, hospitals, community colleges, convention centers – they’re as much a part of economic development as incentives, tax abatements or business capital investment. We want to address all the needs related to business growth and economic development, not just some,” said Ed Smith, Chairman ORIX Texas Technology & Infrastructure Fund. ORIX Texas Technology & Infrastructure Fund ( www.orixtexastechnologyfund.com) will begin reviewing commercial funding requests through the Regional Centers for Innovation and Commercialization immediately and will work directly with governmental entities to fund infrastructure projects. About ORIX USA ORIX USA is a Dallas, Texas-based financial services and investment firm with more than 1,400 employees and primary offices in Dallas, New York, Los Angeles, Columbus and Minneapolis. ORIX holds approximately $6 billion of assets and manages an additional $23 billion of assets for third parties. ORIX USA Corporation ( www.orix.com) is a wholly owned subsidiary of ORIX Corporation; a Tokyo-based, publicly owned international financial services company with operations in 27 countries worldwide. ORIX Corporation is listed on the Tokyo (8591) and New York (IX) Stock Exchanges.