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Austin’s Next Coast Ventures Raises $310M For New Funds

Austin-based startup investor announced it has closed on $310 million in capital across three new funds.

The fundraise includes $195 million for a third flagship fund, Next Coast Ventures III, along with a $50 million opportunity fund, and $65 million for a fund backing entrepreneurs who are looking to acquire and scale small businesses.

The closing brings total capital raised since inception for the 7-year-old firm to over half a billion dollars. It also comes on the heels of a string of exits and up-rounds. 

At least five Next Coast portfolio companies were acquired last year: emergency alert provider ; customer experience platform  merchant dispute management platform  logistics startup  and cash-back app . While acquisition prices were not disclosed, outcomes were favorable, said , Next Coast’s co-founder and managing director, noting that the firm has been producing top quartile returns.

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Next Coast’s investment strategy is both geographic and thematic. The firm favors startups based outside the main coastal tech hubs, with a high concentration of investments in Austin, along with deals in other metro areas including Houston, Salt Lake City and Miami. Its investment thesis centers around several , including the future of work, online learning and self-care. 

Next Coast’s current, active portfolio includes a number of high-profile Austin-based companies including , the home health testing provider, and , which makes 3D-printed homes.

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