Capital Factory is a multi-activity organisation in Austin rather than a single fund. It began in 2009 as a mentorship-driven software accelerator and now describes itself on its own site as the venture firm at the center of Texas. Alongside investing it runs membership and coworking space and a programme and events business across Austin, Dallas, Houston, San Antonio, Bentonville and Washington DC, including Fed Supernova, the Defense Academy, and sector centers such as the Center for Defense Innovation (rebranded Center for Dual-Use Innovation), the Center for Health Innovation in Dallas and the Center for Autonomous Robotics. Its stated investing focus is deep and frontier technology across space, energy, bio and health, and defense, described on the Texas Fund page as autonomy, robotics, space, defense, neurotech and energy, from seed through Series C. Two investing routes are named publicly: the Texas Fund, its stated flagship venture fund, and All Access, an annual-series vehicle offering broader exposure to the network. Since 2025 and 2026 the community, programming and workspace activity has been moved into separate 501(c)(3) non-profits branded STATION (STATION TEXAS, STATION NWA and STATION Austin), so the brand now spans for-profit investment partnerships and non-profit entities.
Not publicly disclosed (no AUM figure is published; the largest first-party fund figure is Texas Fund II, LP, a $50M offering with $7.2M sold per its Form D of 24 February 2026 - an offering size, not AUM) AUM66/100 Power Score™2009 FoundedAustin, TX
Joshua Baer founds Capital Factory in Austin as a mentorship-driven software accelerator taking five companies a year.
2013
Capital Factory relocates to the Omni building in downtown Austin.
2017
Capital Factory publishes the Texas Startup Manifesto.
2019
Capital Factory opens the Center for Defense Innovation, a 23,000 square foot space.
2021
Capital Factory launches the Texas Fund; the first Capital Factory Ventures, LP series vehicle files a Form D on 12 May 2021.
2023
Capital Factory launches the Fellowship Fund; portfolio company Intuitive Machines lists on Nasdaq under LUNR.
2025
Portfolio companies Voyager Technologies (NYSE: VOYG) and Firefly Aerospace (Nasdaq: FLY) complete initial public offerings.
2025
STATION TEXAS, a 501(c)(3) non-profit, names Riffat Manasia founding Executive Director (announced 20 May 2025).
2026
STATION NWA launches in Bentonville, Arkansas as a 501(c)(3) with $1.5 million in founding support from the Walton Family Foundation (13 January 2026).
2026
Texas Fund II, LP files a Form D on 24 February 2026 reporting a $50,000,000 offering with $7,200,000 sold and a first sale on 19 February 2026.
2026
Capital Factory launches STATION Austin as a non-profit carrying its community, programming and workspace activity (10 March 2026).
2026
Founder and CEO Joshua Baer dies in a plane crash near Laredo, Texas on the night of 16 June 2026, at the age of 50.