AUSTIN, Texas–(BUSINESS WIRE)–Next Coast Ventures today announced the closing of $310 million in capital across three different funds. With a focus on entrepreneurs on the “Next Coast” of innovation, Austin-based Next Coast has become one of the fastest-growing venture capital firms in Texas, raising more than $500 million in just six years.

• Austin-headquartered venture capital firm has raised $310M in new capital and now has more than $520M in assets under management (AUM) in just six years
• Next Coast’s thematic investing approach targets Texas and other emerging technology hubs
• Since its inception in 2016, Next Coast Ventures has had multiple exits and has invested in several standout technology companies across the U.S.

“Reaching half a billion dollars in assets under management is a real milestone for us, and we owe a debt of gratitude to the amazing entrepreneurs whose success enabled us to get here,” said Mike Smerklo, Next Coast Ventures’ co-founder and managing director. “These new funds will support entrepreneurs along different paths, whether building businesses from scratch or through the entrepreneurship-through-acquisition or ‘search fund’ model.”

Read the full release HERE.