Austin Ventures shift from startup financing not sudden, but gradual

Austin Ventures shift from startup financing not sudden, but gradualSince 1979, Austin Ventures has been backing up local technology firms or startups. However, the well-known private equity company had allocated two-thirds of its fund to growth-equity contracts as of 2009. Based on the reports compiled by ABJ, Austin Ventures had already engaged in the growth-equity transactions involving smaller corporations that merged to put up a bigger business.

Chris Pacitti, General Partner of Austin Ventures, confirmed in a statement that the firm would no longer finance startups. Instead, it will focus on funding mid-stage companies. Austin Ventures will act like angel investors that take 12 to 15 years to exit.

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