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AUSTIN-AV Labs has put money into three companies new to its portfolio and five prior investments. AV Labs, an offshoot of Austin Ventures, is an accelerator that investments money and provides experience to young companies.

Its new investments of about $2 million each, are in San Newco, which develops technology for storage area networks; SoloMio, a spin-off from Vignette Corp. which develops services for wireless telephone carriers; and Troux Technologies, which develops software for managing software from different vendors. The follow-on financing goes to ForwardVue, Impart Technologies, IT Newco, Newgistics and Waveset.

The idea behind AV Labs is designed to help early-stage companies accelerate their growth by providing input from experienced executives, office space and financing. It has invested $31 million and has 15 active companies. The company is in the Perry-Brooks Building, which has 134,436 sf in 12 stores in Austin’s CBD.

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