Austin Ventures now has more than $3.1 billion in capital under management with the latest fundraising, boasting capital from the nation's predominant financing entities. According to the company, more than two-thirds of the newly raised capital will benefit Texas companies.
Austin Ventures VIII had been predicted to earn $1.25 billion. Austin Ventures' officials had been in a meeting at press time and thus are unavailable to answer questions about the funding round.
Austin Ventures is particularly active as a lead investor in early-stage companies. The 22-year-old Austin Ventures, with offices in the state capital and Dallas, has funded more than 120 companies since its start.
Of the new capital, $125 million has been committed to AV Labs, the accelerator arm for seed and Series A financing. AV Labs will close its first fund within 30 days. Its backing has helped more than 20 companies in the past two years.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
