Austin, Texas based Next Coast Ventures has announced it has just closed on its second fund, Next Coast Ventures II.
The fund starts with $130 million in new capital. It also now has a staff of investors in place, many are investors from the original fund, combined with new investors. The firm, with both the newest and original funds, has $215 million under management. The company wants to invest in early and growth-stage startups.
“We had big goals from the start and have already seen some indicators of success,” said a blog post. “But we – like the entrepreneurs and companies we back – are relentless in our pursuit of excellence, and candidly we feel like we have a long way to go from here. In this next phase of NCV, we continue to believe more than ever that we have the opportunity of a lifetime to build a firm that we can be truly proud of, and we are going to continue to keep our heads down and work tirelessly to make this vision a reality.”
Next Coast Ventures, which says it was ‘built by entrepreneurs, for entrepreneurs,’ has invested in several startups including AlertMedia, BackTracks, Diligent, SeriesX and TrustRadius.