Austin Ventures has committed up to USD50m of equity capital for the creation of Brazos Software.
Austin Ventures has committed up to USD50m of equity capital for the creation of Brazos Software.
Brazos will acquire and operate businesses in large and established sectors of enterprise software.
The new venture will concentrate on acquiring and strategically expanding well-established software companies with track records of product success and long-term customer relationships.
Brazos has been formed in partnership with local software executives Scott Harmon and Sean Fallon.
Harmon, chief executive of Brazos, is a software industry veteran having held various leadership positions with industry-shaping companies such as Tivoli Systems, Motive Communications, and AlterPoint.
Fallon, chief operating officer of Brazos, was recently senior vice president of Trilogy, where he invested more than USD100m of capital and led Trilogy’s successful M&A initiatives.
‘With Scott and Sean, we believe we have put together a truly dynamic and complementary software executive team,’ says Michael Rovner, partner at Austin Ventures. ‘Between Scott’s track record of growing innovative and category-leading software companies and Sean’s history of acquiring and efficiently operating software businesses, we have the right leadership team to create a highly successful software company.’
‘The partnership with AV is a unique opportunity,’ says Harmon. ‘AV has made a significant investment commitment to Brazos. They also bring a deep understanding and successful track record of building a company’s long-term operating success while simultaneously generating superior returns for the company’s investors and shareholders.’
