Active Capital, a San Antonio, Texas-based venture capital firm designed to lead seed rounds for B2B SaaS companies, raised $21.5m for its debut fund.
It is anchored by former Rackspace founders and executives.
Founded by Pat Matthews, co-founder of Webmail.us, which sold to Rackspace in 2007, Active invests in B2B SaaS companies. The firm is strategically small and focused on companies in emerging tech ecosystems across the country, many of them outside of Silicon Valley.
Matthews, an entrepreneur, executive, and angel investor in more than 50 startup companies, raised the capital and invested in 20 founder-led B2B SaaS companies in parallel over the last 18 months.