Next Coast Ventures
Next Coast Ventures (NCV) is a venture capital firm based in Austin, Texas. The firm was founded in 2016 by Michael Smerklo and Thomas Ball.[1]
NCV describes itself as being founded by entrepreneurs themselves looking to help other entrepreneurs.[1] Concerning investment, it takes a thematic approach focusing on “future of work, rise of digital natives, the death of traditional retail and the ways that ubiquitous connectivity is changing marketplaces."[2] Additionally the name ‘Next Coast’ refers to investing in companies outside of the main U.S. coasts.[1]
History[edit]
Prior to founding NCV, Smerklo and Ball both had experience in founding companies and leading successful companies. Smerklo bought, ran and eventually took public ServiceSource International, Inc, while Thomas Ball spent over ten years at Austin Ventures. In 2016, they then came together to build this venture capital firm, focusing on investing in early stage investments in consumer internet, enterprise software, and mobile commerce industries. They have an executive team of five individuals.[3]
Investments[edit]
They raised an initial fund of $85 million. They are currently on their second fund of $130 million, which the team closed in November 2019.[2] NCV has made 42 investments and 5 have been acquired.[1]
In August 2020, NCV partnered with DivInc in an effort to help support underrepresented founders. The firm contributes both funding and mentoring to DivInc’s entrepreneurs.[4]
References[edit]
- ↑ 1.0 1.1 1.2 1.3 "Next Coast Ventures". Crunchbase. Retrieved 2020-08-13. Unknown parameter
|url-status=ignored (help) - ↑ 2.0 2.1 "Austin-based Next Coast Ventures just closed its second fund with $130 million". TechCrunch. Retrieved 2020-08-17.
- ↑ "Next Coast Ventures LLC". www.bloomberg.com. Retrieved 2020-08-17.
- ↑ www.americaninno.com https://www.americaninno.com/austin/newsletters/top-atx-funding-deals-and-ma-of-july-divinc-and-next-coast-partner-on-diversity-initiative-newsletter/. Retrieved 2020-08-17. Missing or empty
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