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Arrowhead Innovation Fund at NMSU’s Arrowhead Center announces new fund manager

Ebetuel “Beto” Pallares has been named fund manager of the Arrowhead Innovation Fund, which is based at New Mexico State University’s Arrowhead Center.


Head and shoulders of a man
Ebetuel “Beto” Pallares, investor-in-residence and Bill and Sharon Sheriff Chair in Entrepreneurship at New Mexico State University, has been named fund manager of the Arrowhead Innovation Fund at NMSU. (Courtesy photo by Peter Svarzbein)

Pallares also serves as Arrowhead Center’s investor in residence and on the NMSU Intellectual Property Advisory Committee. In these roles, he mentors and advises Arrowhead clients on best investment practices and opportunities.

Pallares is the Bill and Sharon Sheriff Chair in Entrepreneurship at the NMSU College of Business, where he fosters an entrepreneurial mindset in students and cultivates talent that will contribute to the region’s growing entrepreneurial ecosystem.

“There is increased momentum in southern New Mexico and the entire state, driven by a desire to put business and technology ideas into practice,” Pallares said. “The AIF seeks to support innovation, and I am thrilled to be a part of it.”

Pallares is the managing director and co-founder of Cowork Oasis, a coworking space in El Paso, Texas, that aims to foster entrepreneurial culture in the Borderplex region. He is also the managing director of Joseph Advisory Services, which manages a portfolio of early-stage technology investments across multiple industry sectors, while also offering advisement services.

Pallares holds a Ph.D. in international business strategy and an MBA from the University of Texas at El Paso, and a bachelor’s degree in economics from Brandeis University.

AIF is a venture capital fund focused on seed and early-stage investments to commercialize promising technologies developed by New Mexico start-up companies. In 2017, AIF received investment from the state’s Catalyst Fund, a $20 million “fund-of-funds” created to support New Mexico companies. AIF is also supported by the EDA’s Regional Innovation Strategies program, which seeks to spur innovation in regions across the nation. Based in Las Cruces, New Mexico, AIF works in close collaboration with the broad statewide network of research institutions, investment funds, and economic development organizations to support the regional entrepreneurial ecosystem.

“One of the most common gaps our regional startups face is access to capital,” said Kathy Hansen, director of Arrowhead Center. “AIF was created to fill this gap, and support the work our state’s startups are pursuing in the agriculture, biotech, health/devices, IT, engineering, energy and water space, all of which are critical research arenas in New Mexico.”

AIF made its first investment to EVUS Inc., a Las Cruces-based company that is developing a new, environmentally friendly heating technology based on magnetic induction. The $100,000 investment will allow the company to move forward with testing, certification and speeding up the market penetration.

AIF is on track to make more investments to New Mexico companies this year. To learn more about AIF, please visit http://www.arrowheadinnovationfund.com/.