Capital Factory2027 deadline, funding, equity and how to apply
Austin venture firm founded in 2009 as a software accelerator. Today it runs All Access, a membership network that takes common stock, and the Texas Fund for cash checks.
- No cash investment
- Funding
- Common stock for All Acce…
- Equity
- Ongoing membership
- Program length
- Rolling
- Applications
About Capital Factory
Capital Factory is a Texas venture firm based in Austin. Joshua Baer founded it in 2009 as a mentorship-driven software accelerator that took five companies a year. It has since grown into a venture firm and says it has been the most active early-stage investor in Texas every year since 2010, per PitchBook. In 2013 it moved into the Omni building downtown, which became a center of Austin's tech scene.
Today Capital Factory runs two vehicles and asks people not to confuse them. The Texas Fund, launched in 2021, is its venture fund. It writes cash checks from seed to Series C into deep and frontier tech: autonomy, robotics, space, defense, neurotech, and energy. Its portfolio includes Apptronik, Saronic, Paradromics, Colossal Biosciences, Firefly Aerospace, and Intuitive Machines.
All Access is the membership network. Capital Factory says plainly that it is not an accelerator and not a cash investment. Members get introductions to investors, customers, talent, and government buyers. In exchange, Capital Factory takes common stock. It does not publish the percentage. About 100 companies a year join, and more than 1,000 companies have entered the firm's orbit through it.
Founders searching for the old Capital Factory accelerator should know that the program format has changed. The closest thing today is All Access for experienced founders ready to scale, or a pitch to the Texas Fund for cash.
What Capital Factory looks for
Capital Factory says All Access is for experienced founders ready to scale and is open to the founders who earn the keys. The Texas Fund backs founders building deep and frontier technology: autonomy, robotics, space, defense, neurotech, and energy. The firm treats Texas as one market across Austin, Dallas, Houston, and San Antonio, so Texas-based or Texas-bound founders fit best. Its portfolio shows a clear lean toward hardware and dual-use companies with government customers.
How the Capital Factory program works
All Access is an ongoing membership, not a cohort with a start and end date. Members tap a network of hundreds of founders, operators, and investors for specific needs: a co-founder, a lead investor, a first enterprise customer, or a path to a government contract. Capital Factory has strong defense ties.
In 2019 it opened the Center for Defense Innovation, 23,000 square feet of space with Army Futures Command, AFWERX, and DIU as tenants, now called the Center for Dual-Use Innovation. Capital Factory also runs a Government and Defense program and a Fellowship program, and it hosts events across Texas. Companies that need cash can pitch the Texas Fund, which invests from seed to Series C.
There is no demo day for All Access, and Capital Factory does not list a fee on its site.
How to apply to Capital Factory
- 1Decide which vehicle fits. All Access is for network access in exchange for common stock. The Texas Fund is for a cash investment.
- 2For All Access, contact the All Access team through capitalfactory.com/all-access.
- 3For cash, use the Pitch the Texas Fund link on capitalfactory.com/texas-fund.
- 4Show that you are building in deep or frontier tech and are ready to scale, which matches the firm's stated focus.
- 5For general questions, email howdy@capitalfactory.com.
Startup perks after acceptance
Accelerator startups qualify for most startup credit programs. These are the ones founders claim first.
Notable Capital Factory alumni
Companies that went through or were backed by Capital Factory.
Capital Factory vs similar accelerators
| Program | Funding | Equity | Location | Deadline |
|---|---|---|---|---|
| Capital Factory | No cash investment | Common stock for All Acce… | Austin, TX | Rolling admissions |
| Antler | Up to $500K | Varies | 30 locations including New York, San Francisco, Austin, London, Singapore, Sydney | Rolling admissions |
| Austin Technology Incubator | No cash investment | 2% | Austin | Rolling admissions |
| Wayra (Telefónica) | Up to $5.8M | Minority stake | Madrid | Rolling admissions |
| EIC Accelerator | Up to $2.9M | None on grant | EU | November 4, 2026 (8 days left) |
| PearX | Up to $2M | ~7% | San Francisco Bay Area | Rolling admissions |
Capital Factory FAQ
When is the Capital Factory application deadline?+
Capital Factory reviews applications on a rolling basis, so you can apply at any time.
Is Capital Factory still an accelerator?+
Not in the classic sense. It started in 2009 as a software accelerator taking five companies a year. Its All Access page now states that it is not an accelerator and not a cash investment. The firm runs All Access, a membership network, and the Texas Fund, a venture fund launched in 2021.
How much equity does Capital Factory take?+
All Access takes common stock in exchange for network access, but Capital Factory does not publish the percentage on its site. Older reports cite about 1%, but treat that as unconfirmed. The Texas Fund invests cash on negotiated terms like any venture fund.
Does Capital Factory invest cash?+
Yes, through the Texas Fund, which writes cash checks from seed to Series C into deep and frontier tech. Its portfolio includes Apptronik, Saronic, Paradromics, and Colossal Biosciences. All Access does not include a cash investment. Founders who want cash should pitch the Texas Fund directly.
Do I have to be in Austin?+
Capital Factory is based in Austin and focuses on Texas, which it treats as one market across Austin, Dallas, Houston, and San Antonio. It does not publish a strict location rule for All Access, but its network, events, and defense center are in Texas.
Sources: capitalfactory.com, capitalfactory.com, capitalfactory.com, capitalfactory.com, capitalfactory.com, peony.ink