Silverton Partners Announces SP IV, $75M Early Stage Technology Fund
Austin-Centric Investment Focuses on Rapidly Growing Startup Ecosystem
AUSTIN, Texas -- 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
Treble Public Relations
Ethan Parker, 512-761-3829
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