Triple G Ventures LLC and Robert D. Smith v. Thomas Wang, Aaron Boesky, Sharon So, and AT Gekko, LLC

CourtCourt of Appeals of Texas
DecidedAugust 28, 2025
Docket01-23-00634-CV
StatusPublished

This text of Triple G Ventures LLC and Robert D. Smith v. Thomas Wang, Aaron Boesky, Sharon So, and AT Gekko, LLC (Triple G Ventures LLC and Robert D. Smith v. Thomas Wang, Aaron Boesky, Sharon So, and AT Gekko, LLC) is published on Counsel Stack Legal Research, covering Court of Appeals of Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

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Triple G Ventures LLC and Robert D. Smith v. Thomas Wang, Aaron Boesky, Sharon So, and AT Gekko, LLC, (Tex. Ct. App. 2025).

Opinion

Opinion issued August 28, 2025

In The

Court of Appeals For The

First District of Texas ———————————— NO. 01-23-00634-CV ——————————— TRIPLE G VENTURES LLC AND ROBERT D. SMITH, Appellants V. THOMAS WANG, AARON BOESKY, SHARON SO, AND AT GEKKO, LLC, Appellees

On Appeal from the 190th District Court Harris County, Texas Trial Court Case No. 2022-09695

MEMORANDUM OPINION

Appellants Triple G Ventures and Robert D. Smith sued nonresidents

Thomas Wang, Aaron Boesky, Sharon So, and AT Gekko, LLC for breach of

contract, fraud, breach of fiduciary duty, conspiracy, and breach of the Securities

Act of 1933 based on an investment transaction. The appellants maintain that the trial court has personal jurisdiction over the nonresident appellees because they

reached out to Texas residents to solicit investment in a risky business deal.

The appellees assert that the parties’ communications about the investment

arose fortuitously. They argue that the jurisdictional evidence does not show either

that they purposefully availed themselves of the privilege of doing business in

Texas or that the appellants’ claims are related to the appellees’ contacts with

Texas. Thus, the appellees maintain that the exercise of personal jurisdiction is not

proper in this case. The trial court agreed with the appellees, and so do we.

Accordingly, we affirm the trial court’s grant of the appellees’ special

appearance and dismissal of all the appellants’ claims against them.

Background

I. Wang and Boesky raise capital for a small clean-energy company.

Heliogen was a privately-held, California-based clean energy company that

was incorporated in Delaware. Heliogen was founded by Bill Gross, “one of the

world’s most successful entrepreneurs,” and backed by private investors, including

Microsoft Corporation co-founder, Bill Gates. In early 2021, Heliogen sought to

raise $75 million through a Simple Agreement for Future Equity (“SAFE”).

2 Heliogen was also planning to go public, possibly through a merger with a special

purpose acquisition company, or “SPAC.”1

Investors Thomas Wang, who lives in Puerto Rico, and Aaron Boesky, who

lives in Hong Kong, have experience in startup technology companies, venture

capital, asset management, and hedge fund management. In order to invest in

Heliogen, Wang and Boesky created two companies: A. T. Gekko, LLC (“AT

Gekko”) and AT Gekko SPV1, LLC (“SPV1”). Both were Delaware corporations,

with their principal place of business in Pennsylvania. AT Gekko was the manager

of SPV1 and provided investment and investment-related services to SPV1.2 Wang

and Boesky planned to raise over $10 million in the Heliogen SPV, which they

hoped would realize a positive return by selling shares of stock when Heliogen

eventually went public.

AT Gekko would receive a standard 2% up-front fee for management, and

SPV1 retained a 20% carried interest in distributions. All investors in SPV1 signed

both an LLC Agreement and a Subscription Agreement. Wang and Boesky, on

behalf of AT Gekko, solicited investments in SPV1 based on an offering memo

1 Heliogen merged with Athena Technology Acquisition Corp. (the ‘SPAC’) on December 30, 2021. The merged company was also called “Heliogen.” 2 Sharon So, who also lived in Hong Kong was the executive assistant for AT Gekko. 3 that explained the investment opportunity, the details of the investment scheme, its

risks, and their conflicts of interest.

II. Wang and Boesky meet Smith and Casey, who decide to invest in SPV1.

Early 2021, Chris Zaber introduced his childhood friend, Wang, to his

colleague, Robert Smith, who lives in Dallas, Texas.3 Zaber connected them

because they both collect sports cards. Smith and Wang began communicating by

telephone, text, email, and WhatsApp.

According to Smith, their conversations “quickly turned to [Wang’s] new

venture, which was raising money for a company called Heliogen.” In his

deposition,4 Smith testified that it was possible that he had asked Wang about his

business. Smith was interested in investing in Heliogen; Wang introduced Smith to

Boesky; and all of them discussed the opportunity.

Smith and Wang had a text conversation about the investment on February

15, 2021. Wang told Smith that he had increased his personal investment to “1m”

based on information he received that the SPAC merger would occur “probably in

4-6 weeks instead of 3-6 months.” Smith asked where “the entity” was based, what

its “take” was, and Wang’s relationship to it. Wang told him that it was in

3 The limited jurisdictional evidence does not demonstrate exactly when Zaber introduced Smith and Wang. 4 The trial court permitted jurisdictional discovery, including limited party depositions. 4 Pittsburgh, the “take” was “2/20,” and that he was a partner in the “entity.” Wang

also told Smith, “It’s oversubscribed, if you want less or back out it’s ok. There is

[sic] people that actually want more right now.” Smith then asked Wang how

confident he was that Heliogen would IPO “trading publicly in the next 6 months”

and whether he would be able to sell the shares as he wished once it was public.

Wang told him that he was confident enough that he was “putting in 1m,” but he

cautioned Smith, “If you’re concerned you don’t have to invest[.] I don’t want you

to feel like you need to.” Wang twice told Smith that he would be able to sell his

shares “after the lockup.” Finally, Smith told Wang that his friend, Kevan Casey,

also wanted to invest $200K, and he gave Wang Casey’s email.

About twenty minutes later, according to the text message and email time

stamps, Wang sent an email to Smith, Casey, and Sharon So, the executive

assistant for AT Gekko. In the email, Wang directed So to send Casey “documents

for Heliogen investment.” Less than 24 hours later, Casey sent to Wang and So, by

email, signed copies of the Subscription Agreement and the SPV1 LLC agreement,

both of which were required for investment in SPV1.5 Casey signed on behalf of

“Triple G Ventures, LLC,” a Wyoming company that Casey used for investment

5 In his deposition, Casey said that he first heard about AT Gekko from Smith in 2021, and that he may have spoken to Smith multiple times before having an introductory call with Boesky. Casey said that Boesky later pursued him to work as an investment consultant. Casey funded Triple G’s SPV1 investment from a “Texas” Bank of America account because although he was semi-retired, he considered Texas his principal place of business for investing through Triple G. 5 purposes. In the transmittal email, Casey stated: “[Smith] emailed these to me and I

filled them out. Please confirm you have everything that you need. Upon receipt of

the countersigned docs then I will immediately wire. Thanks!” That same day,

February 16, 2021, Smith signed both the subscription agreement and the SPV1

LLC agreement.

Smith’s signed documents showed a Dallas, Texas address, and Triple G’s

documents (signed by Casey) showed a Houston, Texas address, even though

Triple G is registered in Wyoming, and its articles of organization list an address in

Cheyenne, Wyoming as its principal office. Smith, individually, and Casey, acting

for Triple G, each indicated that they wished to purchase 200 units of SPV1 for a

total cost of $200,000 each. Wang countersigned the SPV1 LLC agreement on

February 23, 2021.

III.

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Triple G Ventures LLC and Robert D. Smith v. Thomas Wang, Aaron Boesky, Sharon So, and AT Gekko, LLC, Counsel Stack Legal Research, https://law.counselstack.com/opinion/triple-g-ventures-llc-and-robert-d-smith-v-thomas-wang-aaron-boesky-texapp-2025.