Silverton Partners, an early-stage venture capital firm, is launching a USD75m early stage follow-on fund, Silverton Partners IV.
The fund will include the backing of prominent Austin entrepreneurs as well as several university endowments and the general partners personally.
SP IV fund includes a USD10m oversubscribed entrepreneurs fund backed by more than 40 founders, CEOs and executives from the Austin startup ecosystem.
Silverton Partners has a 30-year track record of successful investments in Austin-based companies. The firm focuses on early-stage, capital efficient technology companies where technology can be used to build significant proprietary barriers over time.
Formation of SP IV comes upon several successful exits for Silverton Partners III, including: Convio (IPO), BlackLocus (acq. by The Home Depot), Crimson (acq. by The Advisory Board Company), Hyper9 (acq. by SolarWinds) and Javelin (acq. by Avago Technologies). In addition to these exits, Silverton Partners III also contains 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," says Bill Wood, general partner, Silverton Partners. "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.”
The allocation of the USD75m of SP IV will be similar to SP III, with a heavy focus on startups in focused on enterprise software and consumer Internet. The firm plans to add two new investment professionals over the next year.
