USA – Silverton Partners, an Austin, Texas-based early-stage investment firm, closed $144M in capital.
Fund 6 will deploy capital primarily in Texas, with 25-30% allocated for out-of-state investments. Silverton has recently funded startups in emerging markets like New York, Southern California and Utah. The fund will also designate $17M toward the formation of an Opportunity Fund for pro-rata investments in some of the firm’s highest potential portfolio companies. The Opportunity Fund enables investments in later-stage funding rounds for existing portfolio companies, partnering with marquee firms, without diluting Silverton’s core focus of Seed and Series A investing. The firm expects to add 20-25 companies to the Fund 6 portfolio, and up to eight positions in the opportunity fund. Founded in 2006 and led by Kip McClanahan, Mike Dodd, and Morgan Flager, Silverton Partners has invested in seed-stage startups that have exited for $3.2B in cumulative value in the past two years. Notable recent exits include Sailpoint, Ping Identity, TrendKite, Favor, WPEngine, Watermark and SpareFoot. The team also includes Tina Dai (Principal), Roger Chen, Partner; and Alyssa Dadoly, CFO. 30/04/2020
