Elsewhere Partners, an Austin, Texas-based growth-stage venture capital firm, closed its second fund, Elsewhere Partners II, L.P., at $175 million.
Partnering with capital-efficient software startups that have achieved customer traction and are already generating substantial revenue, the firm will continue to focus on innovative businesses across IT infrastructure, developer tools, workforce management, cybersecurity and other sectors.
The fund has already made several new growth investments from the fund, including: BackBox, a security automation provider; Portnox, a network access control platform; Sellers Shield, a residential real estate risk management platform; and greymatter.io, an enterprise microservices platform.
Founded by Chris Pacitti, Elsewhere Partners, the firm also announced the promotion of Sloane Child and Nick Stoffregen to Principal, both of whom previously served as Vice Presidents for the firm. In their new roles, Child and Stoffregen will work with Elsewhere’s team of seasoned software investors to lead new investments for its growing portfolio and extensive network of 100+ operating advisors.