Silverton Partners’ New $75 Million Fund for Austin Startups

imgres-4Early-stage startups in Austin just got a major boost.
Silverton Partners announced Thursday the formation of a new $75 million fund that will invest in early-stage startups in Austin.
The fund received backing from prominent Austin entrepreneurs, several university endowments and its general partners. It was oversubscribed and included more than 40 Austin founders, CEOs and executives. The fund will target investments in the enterprise software and consumer Internet. Silverton plans to hire two investment professionals during the next year.
Silverton Partners has had several successful exits from its Silverton Partners III fund. Those companies include Convio, which went public, BlackLocus, acquired by The Home Depot, Crimson, acquired by The Advisory Board, Hyper9, acquired by SolarWinds and Javelin, acquired by Avago Technologies. The fund also has 18 active portfolio companies.
“We are proud to announce Silverton IV, and greatly appreciate the opportunity to collaborate with such a premier group of entrepreneurs,” Bill Wood, General Partner, Silverton Partners, said in a news release. “We’ve witnessed first-hand the tremendous growth of the Austin startup ecosystem and its gratifying to see that our strategy of focusing on local, high-growth opportunities is being rewarded. We particularly enjoy working with seed-stage companies as they mature into robust companies with product traction and customer validation. It’s a winning formula for us – and we look forward to SP IV becoming another successful fund over the years.”

Trackbacks

  1. […] post Silverton Partners’ New $75 Million Fund for Austin Startups appeared first on […]

Speak Your Mind

*