The Woodlands, Texas – September 22, 2026 -- Astound Ventures, a collaborative investment fund founded by hoteliers Burt Cabañas, Alex Cabañas and Kirk Jones, has raised more than $8 million toward a $30 million target aimed at boosting net unit margin across hotel real estate operations.
Fund targets $30 million entirely from industry "smart money"
Unlike traditional venture funds backed by institutional allocations, Astound is raising its entire pool from operators, owners and brands within the hospitality sector. Chairman Burt Cabañas is founder of Benchmark Resorts & Hotels and co-chairman of Pyramid Global Hospitality; CEO Alex Cabañas is Pyramid's executive chairman and a Convene Hospitality Group board member; CFO Kirk Jones previously served as CFO of Benchmark and Capella Hotels.
Ten companies funded, up to 20 targeted over three years
Astound has engaged more than 100 solution providers and deployed capital into 10 companies to date, with plans to back up to 20 over a three-year investment window. Portfolio bets span sustainable tissue solutions, heated outdoor furniture, mobile point-of-sale technology, wireless open-source energy management, autonomous travel technology, and travel and meetings-management platforms.
Fox Fold and Outmore Living cite faster deal velocity after backing
Ludovic Siouffi, co-founder and CEO of sustainable tissue provider Fox Fold Products Inc., said Astound's involvement put his company in front of top hotel management CEOs and owners, cutting years off cold outreach. Kevin Long, founder and CEO of outdoor heated-seat technology firm Outmore Living, said the fund has generated qualified leads and accelerated customer conversion beyond capital alone.
Astound Collaborators network expands weekly across real estate
The founders built a parallel network, Astound Collaborators, drawing on conversations with more than 300 industry contacts since the fund's origin in May 2025. The group includes hotel owners, brands, management companies and adjacent real estate operators, and continues adding members weekly.
Alex Cabañas said the strategy prioritizes practical returns over speculative bets. "We are searching for work horses, not unicorns," he said, adding that slow adoption and misaligned interests across the industry erode profitability if left unaddressed.