ATX Seed Ventures, an Austin, Texas—based early-stage venture capital firm specializing in Texas and the broader South-Central U.S., closed its second fund, at $32m.
The fund will continue leading early-stage investments in new high-growth technology companies and make follow-on investments for current portfolio companies.
Led by Chris Shonk, managing partner, Brad Bentz, Partner, and Danielle Allen, Partner and Chief Operating Officer, ATX Seed Ventures makes investments in seed and Series A rounds of companies advancing software-as-a-service, IoT, e-commerce, AI solutions, as well as frontier commercial technologies, and mobile applications.
The firm leverages a diverse Limited Partners base, investors, institutions and strategic partners, to actively mentor and invest in the firms’ portfolio.
ATX Seed Ventures has more than $60 million in assets under management, and has invested in 26 companies since its founding in 2014.
The firm closed its inaugural fund in 2014, partnering with 16 businesses. It has been a major early-stage investor in some of the fastest growing technology companies in the state, including Alert Media, Bractlet, SourceDay, GoCo, LIFT Aircraft, Pensa Systems, QuotaPath, and Slingshot Aerospace.
This first fund has four exits to date, including three to public companies (FantasySalesTeam to Microsoft; RideScout to Daimler; and Unbill to Q2 Holdings).