Austin-based Silverton Partners has launched its $75 million early stage follow-on fund, Silverton Partners IV. According to the firm, the pool will include the backing of its general partners, well-known Austin entrepreneurs and university endowments. Silverton Partners is a VC firm that focuses on early-stage Austin-based companies.
AUSTIN, TX—November 7, 2013—Silverton Partners, an early-stage venture capital firm focused on Austin-based companies, today announced the formation of a $75 million 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 $10M oversubscribed entrepreneurs fund backed by more than 40 founders, CEO’s 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, highly promising portfolio companies.
“We are proud to announce Silverton IV, and greatly appreciate the opportunity to collaborate with such a premier group of entrepreneurs,” said 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.”
Silverton Partners has assembled a proven team: General Partner Bill Wood has 29 years of venture experience and was an early stage investor in over two dozen Austin companies, including the founding investor in the iconic software start-up (Tivoli) and semiconductor startup (Silicon Labs). Partner Kip McClanahan maintains 25 years operating experience in Austin across tech / IT verticals and has founded, served as CEO and board member for both public and private companies (Netspeed/Cisco, BroadJump, TippingPoint). Partner Morgan Flager, formerly of FTV Capital, brings eight years venture experience and operational experience at Ingrian Networks (acquired by SafeNet) and Kintana (acquired by Mercury Interactive Corp.)
The allocation of the $75M 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.
About Silverton Partners
Silverton Partners is an early-stage venture capital firm focused on Texas-based companies. Our culture is people-driven which leads us to partner with exceptional entrepreneurs who are committed to attacking growth markets with proprietary products or services. For more information, please visit http://silvertonpartners.com