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Venture

Austin-based Silverton, Capital Factory Look To Raise $160M Across Three Funds

One of Austin’s largest venture firms, , and the city’s largest accelerator, , are in the process of raising millions for new funds, according to filings with the U.S. Securities and Exchange Commission.

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Silverton Partners

filed paperwork signaling its intent to raise not just one, but a pair of new venture capital funds. The firm is one of the most active venture firms in Texas with an emphasis on backing Austin-based startups.

The first filing to cross the wires was , for which the firm aims to raise $120 million. If fully closed out, it would be the largest flagship venture capital fund raised by the firm since its inception in 2003.

The filing lists Michael Dodd, , and as its general partners. , who was listed on the filing for Silverton’s , is not included on the listing for Fund VI.

In May 2018, we reported on the firm closing on its fifth fund, in which it raised $108 million in an oversubscribed round of funding. Previous funds raised $75 million in 2006 and .

Some of the firm’s most recent investments include participating in Austin-based last-mile delivery startup  $10.5 million (announced just today) and cybersecurity company $21 million Series B raise (which was led by , Microsoft’s venture arm)

In addition to its sixth flagship fund, Silverton Partners also filed paperwork , a $20 million investment vehicle. If the firm is following VC industry naming conventions, its first “opportunity fund” will likely be earmarked for later-stage investments with the firm’s existing portfolio companies.

The filings state that, so far, no money has been closed for either of its new funds. However, it should be noted that venture investors frequently submit Form D’s immediately prior to securing their first capital commitments.

Capital Factory

Described by Crunchbase News as the “the lone star state’s best-kept startup secret,” signaled that it is looking to raise $20 million for its venture fund. If Capital Factory successfully raises the $20 million, it will be the sixth and largest fund to be deployed into, presumably, seed and early-stage startups by Capital Factory, .

Per prior reporting by Crunchbase News, in 2018, Capital Factory claimed “2,416 members and 1,480 startups called Capital Factory home.”

Executive director and co-founder of Capital Factory is listed on the filing as a fund manager.

Although based in Austin, Capital Factory has a presence all over Texas with satellite locations in both and . An active investor, Capital Factory also backed the afore-mentioned Fetch Package. It also participated in Dallas-based recent $11 million Series A raise, which we reported on here.

Here too, Capital Factory states that it has not closed any outside capital for its sixth investment fund. The same caveats about investors filing paperwork right before calling down capital apply.

Crunchbase News reached out to Silverton Partner’s Flager and Capital Factory’s Baer for comment. Both declined at this time.

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