AUSTIN, Texas–(BUSINESS WIRE)–Silverton Companions, Texas’ most lively and longest standing enterprise capital investor, at the moment introduced the shut of Fund VII at $248M in whole belongings. The fund represents the biggest within the agency’s historical past and exceeded its preliminary aim of $220M. It’s anticipated that greater than two-thirds of Fund VII’s capital shall be deployed to assist the quickly rising wants of Texas-based early-stage startups.
“We’re excited to place Fund VII’s capital to work in supporting the expansion of firms in Texas and past,” stated Morgan Flager, Managing Accomplice at Silverton Companions. “Although the present financial circumstances are advanced, there’s by no means been a greater time to speculate. Historical past has proven that the most effective firms are sometimes created in tough instances and we stay dedicated to serving extraordinary entrepreneurs. We’ll preserve investing and delivering distinctive outcomes for our companions.”
Over the past market downturn in 2008, the agency produced Fund III which is presently a prime 5% fund in contrast towards the Cambridge benchmark.
The agency had 100% of previous LPs return for Fund VII along with 4 new institutional companions and greater than 20 people together with lots of the leaders of present and former Silverton Companions portfolio firms. In whole, the fund’s capital, raised from prime college endowments and foundations, quantities to $177M in Silverton Companions VII and $71M in Silverton Alternatives II.
Based in 2006, Silverton Companions manages greater than $950 million in belongings and has realized greater than 30 acquisitions and 4 IPOs, together with Sailpoint, Ping Identification and Vacasa. The agency is concentrated on partnering with early-stage startups led by founders who share a dedication to compete in progress markets and construct enduring, iconic firms. Silverton Companions is led by companions Kip McClanahan, Mike Dodd, Roger Chen and Morgan Flager.
“We’ve persistently targeted on being a premier seed-stage investor, sustaining a rational deployment tempo and elevating the correct quantity of capital to assist our technique,” stated Flager. “This method has yielded distinctive returns for our LPs over the previous 16 years and we’re grateful for the arrogance our traders proceed to indicate in us.”
Along with asserting the closure of Fund VII, Silverton Companions is happy to announce the promotion of Matthew Saitta to Principal, Alyssa Dadoly to CFO & Working Accomplice, and the addition of Aneesh Desai as an Affiliate on the funding workforce.
About Silverton Companions
The Silverton workforce companions with entrepreneurs who’re devoted to tackling progress markets and constructing lasting firms. In partnering with Silverton, firms profit from its huge community and experience from a long time of rising and investing in profitable companies. Silverton Companions is predicated in Austin, TX, and was the preliminary institutional investor for AlertMedia, Billie, SailPoint, Silicon Labs, Storable, Self Monetary, TurnKey Trip Leases, Wheel, WP Engine and The Zebra amongst others. For extra info, please go to silvertonpartners.com.