Austin-based Next Coast Ventures announced the closing of $310 million in capital across three different funds. With a focus on entrepreneurs on the “Next Coast” of innovation, Next Coast has become one of the fastest-growing venture capital firms in Texas, raising more than $500 million in just six years.
“Reaching half a billion dollars in assets under management is a real milestone for us, and we owe a debt of gratitude to the amazing entrepreneurs whose success enabled us to get here,” said Mike Smerklo, Next Coast Ventures’ co-founder and managing director. “These new funds will support entrepreneurs along different paths, whether building businesses from scratch or through the entrepreneurship-through-acquisition or ‘search fund’ model.”