Austin Ventures in talks with LPs about new fund

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texas cattleInvestment firm Austin Ventures is reportedly looking to raise $400m to $650m for its Fund XI.

Austin is in talks with investors about the new fund after selling its investment in RetailMeNot for proceeds of over $80m and hiring a new executive to focus on the software sector, said the Buyouts magazine.

The Austin, Texas-based firm makes investments of $500,000 to $40m in early-stage companies and $25m to $100m in mid-market companies.

The firm’s investees include integrated circuits provider Ambiq Micro, which raised $10m in an Austin-led round last year, and low-power data centre provider Calxeda.

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