HOUSTON (PRWEB) October 03, 2018
Cottonwood Venture Partners (“CVP”) today announced the final close on its inaugural fund with total capital commitments of $32 million. CVP is a Houston-based investment firm partnering with companies that provide digital technology solutions for the oil and gas industry.
“We are incredibly grateful for the support of our limited partners,” said Jeremy Arendt, Managing Partner of CVP. “Our partners were quick to identify the opportunity and have proven invaluable as strategic resources for the Fund and our portfolio companies.”
CVP, co-founded by Jeremy Arendt, Ryan Gurney, and Mark Mills, leverages the expertise and relationships of its principals, advisors, and limited partners to help drive growth at its portfolio companies. To date, CVP has invested in four leading digital oilfield companies: Ambyint, MineralSoft, Novi Labs, and SitePro. CVP plans to continue adding to its portfolio of companies and provide further capital and strategic support to its existing portfolio.
Ryan Gurney, Managing Partner, commented, “We are delighted by the partnership with our existing portfolio companies and excited to continue to add high-quality and synergistic companies to the portfolio.”
Mark Mills, Strategic Partner, added, “When we initially launched CVP, we anticipated that the industry would seek technology to increase productivity and improve efficiency; but, the velocity of that change was unclear. Over the past year, we have witnessed a fundamental shift and the industry is now rapidly deploying new technology – digital has become the zeitgeist of today’s oilfield.”
Vinson & Elkins LLP served as fund formation counsel to CVP.
About Cottonwood Venture Partners
Cottonwood Venture Partners ("CVP") is a Texas-based investment firm partnering with companies that provide digital solutions for the oil & gas industry. CVP invests in digital technology companies that have achieved early customer adoption and require capital to accelerate growth. CVP leverages its expertise and relationships in energy and technology to help drive growth at its portfolio companies. For more information, please visit http://cottonwoodvp.com.