We are excited to announce today that we have raised $300 million of committed capital for new investments. The capital comes primarily from a large private financial institution with a long history of making sophisticated energy investments, both directly and through partners like us.
As we look forward, we will use the capital to further grow Revere’s energy portfolio. It will go primarily towards acquiring oil and gas royalties in Texas, where the company is headquartered.
Our CEO Gabe Bourgeois was quoted in the Houston Business Journal, “We continue to believe there is a better, more personalized way for buyers to interact with mineral owners and sellers. This new funding gives us a platform to scale our efforts, as we attempt to bring liquidity to this market. We remain focused on using technology to create a better environment for buyers and sellers while building an attractive portfolio for our investors.”
We are entering our third year of operation, although several partners have been involved in royalty valuation and acquisition since 2010. Our company was founded with the mission of challenging the traditional approach to royalty acquisition. Our team relies on a tech-enabled approach to detailed valuation in order to develop brokerless bids. By eliminating layers, we attempt to create a better price for the buyer and seller.
We treat our small deals with the same care with which we approach larger transactions. Revere Resources has the ability to make deals ranging from a few thousand dollars to over $100 million.