BROWNSVILLE, Texas – The Alamo Angels have descended into extreme South Texas and want to hear from any would-be entrepreneurs seeking financial and logistic advice.
The San Antonio-based company is opening its first office outside the Alamo City, choosing Brownsville after two and a half years of negotiations between the two.
The two entities signed a partnership agreement on Tuesday, May 7, at the eBridge Center for Business & Commercialization during RGV StartUp Week.
Brownsville Mayor John Cowen described the agreement as something special.
“Alamo Angels is more than a group of investors,” he said. “They are investing in the future prosperity of Brownsville and the Rio Grande Valley.”
He said the partnership will create a hub for both investors and entrepreneurs and called for embracing the partnership.
Juan “Sebastian” Garzon, the Executive Director of Alamo Angels, said one of the reasons why they are here today is because Alamo Angels is an entity with access to capital.
“This is part of what we call an ecosystem,” he said. ”We have been doing this in San Antonio for the last six and a half years and we are now here in Brownsville.”
Garzon said the partnership is the culmination of two and a half years of talks and negotiations.
David Fonseca, CEO with Jockey Ventures and a board member with Alamo Angels, said they like to target entrepreneurs and people starting up with an idea about opening a new business.
Asked why entrepreneurship is so important, he said because it’s one of the most important business activities in the world today.
He also said Alamo Angels has a network of some 150 members.
Asked again about the company’s name, he said an Angel is an investor with an annual income of $200,000 for a single individual and with a net worth of $500,000 to $2.5 million.
The partnership with Brownsville Community Improvement Corp. marks the first time the company will open a branch outside of San Antonio.
Cori Peña, president and CEO of BCIC, said they were celebrating the amazing achievement to have Alamo Angels come to Brownsville.
“Let’s celebrate this moment,” she said, “and build a future where entrepreneurship thrives.”
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