Monday, March 28, 2016
Next Coast Ventures Seeks $50M For New Austin Venture Capital Fund
Austin-based Next Coast Ventures, a new venture capital fund led by former Austin Ventures' General Partner Thomas Ball, is seeking to raised $50M in its first fund, Next Coast Ventures I, according to a regulatory filing from the new firm on Friday. The first investment in the fund has yet to occur, according to that filing. The new early stage venture capital fund is led by Tom Ball and Mike Smerklo. Ball led Austin Ventures' investment in RetailMeNot, Silvercar, SGN, Gazzang, Boundless Network, and many others. Smerklo was CEO of ServiceSource.