Texas Weekly Deal Highlights
May 17, 2026
This week, six companies with Texas HQs (including two SPACs) priced public offerings. The headliner was Houston's Fervo Energy, whose $1.89B upsized debut became the largest clean energy IPO ever and pushed the geothermal developer past a $10B valuation on its first day of trading. That deal was fueled, like so much else in this market, by AI data center power demand.
Here’s the rundown on this week’s deals:
Austin
GSR V Acquisition, a special purpose acquisition company, raised $200M in its IPO. $200M raised to date.
Equal Parts, a developer of an AI-driven operating platform for independent insurance agencies, raised $27.90M in a Series A led by Inspired Capital with participation from Equal Ventures Management, Genius Ventures, Max Ventures. $27.90M raised to date.
Honest Mary’s, an operator of fast-casual restaurants specializing in fresh grain bowls, raised $1.30M in a Seed from undisclosed investors. $2.75M raised to date.
Greater Texas Market
Fervo Energy (Houston), a developer of enhanced geothermal energy systems for carbon-free electricity, raised $1.89B in its IPO. $3.94B raised to date.
Global Medical Response (Lewisville), a provider of air and ground ambulance, mobile healthcare, and disaster response services, raised $478.72M in its IPO. $10.80B raised to date.
EagleRock Land (Houston), a land and resource management company collecting royalties from Permian Basin oil and gas production, raised $320.05M in its IPO. $320.05M raised to date.
Breeze Acquisition II (Irving), a special purpose acquisition company, raised $125M in its IPO. $125M raised to date.
Frontier Bank of Texas (Elgin), a community bank providing commercial and consumer banking services in central Texas, raised $29M in a deal from undisclosed investors. $59M raised to date.
Vida (Cedar Park), a developer of an AI agent operating system for enterprise workflow automation, raised $15M in its IPO. $21.53M raised to date.
Onramp Bitcoin (Dallas), a provider of multi-institution Bitcoin custody and financial services, raised $12.5M in a Series A led by Early Riders. $12.50M raised to date.
Casimir (Houston), a developer of semiconductor chips that harvest energy from quantum vacuum fields, raised $12M in a Seed led by Scout Ventures with participation from Lavrock Ventures, Cottonwood Technology Fund, Capital Factory, and others. $14.50M raised to date.
Absolute Recomp (North Richland Hills), an operator of fitness centers offering 24/7 access and strength training across DFW, raised $10M in a deal from undisclosed investors. $10.20M raised to date.
Oaklin Lane (Plano), a provider of pediatric speech, occupational, and physical therapy services, raised $3.24M in a Seed from undisclosed investors. $3.24M raised to date.
EtiraRx (Dallas), a developer of small-molecule therapeutics for therapy-resistant cancers, raised $2.28M in a deal from undisclosed investors. $9.50M raised to date.
OnePoint Dialysis (The Woodlands), a provider of dialysis services for kidney patients, raised $2.25M in a Seed from undisclosed investors. $2.25M raised to date.
See you next week! —Mason & Joel
This edition was supported by Bradford Martin.
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