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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.

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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