LiveOak Venture Partners beats targets on debut fund with $109 mln

LiveOak Venture Partners has closed its debut fund on $109 million, beating its $100 million target for investments in early-stage companies in Texas and the Southwest. Fundraising took more than two years and LiveOak was able to bring in a diverse limited partner base, including public pensions, endowment and foundations. LiveOak has already completed five deals, with the largest equity check at $4 million. The firm anticipates doing 15 to 17 deals at an average of $6 million to $8 million, according to one of the founding general partners, Venu Shamapant.

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