AUSTIN, Texas--(BUSINESS WIRE)--Silverton Partners, Texas’ most active and longest standing venture capital investor, today announced the close of Fund VII at $248M in total assets. The fund represents the largest in the firm’s history and exceeded its initial goal of $220M. It is anticipated that more than two-thirds of Fund VII’s capital will be deployed to support the rapidly growing needs of Texas-based early-stage startups.
“We’re excited to put Fund VII’s capital to work in supporting the growth of companies in Texas and beyond,” said Morgan Flager, Managing Partner at Silverton Partners. “Though the current economic conditions are complex, there’s never been a better time to invest. History has shown that the best companies are often created in difficult times and we remain committed to serving extraordinary entrepreneurs. We’ll keep investing and delivering exceptional results for our partners.”
During the last market downturn in 2008, the firm produced Fund III which is currently a top 5% fund compared against the Cambridge benchmark.
The firm had 100% of past LPs return for Fund VII in addition to four new institutional partners and more than 20 individuals including many of the leaders of current and former Silverton Partners portfolio companies. In total, the fund’s capital, raised from top university endowments and foundations, amounts to $177M in Silverton Partners VII and $71M in Silverton Opportunities II.
Founded in 2006, Silverton Partners manages more than $950 million in assets and has realized more than 30 acquisitions and 4 IPOs, including Sailpoint, Ping Identity and Vacasa. The firm is focused on partnering with early-stage startups led by founders who share a commitment to compete in growth markets and build enduring, iconic companies. Silverton Partners is led by partners Kip McClanahan, Mike Dodd, Roger Chen and Morgan Flager.
“We’ve consistently focused on being a premier seed-stage investor, sustaining a rational deployment pace and raising the right amount of capital to support our strategy,” said Flager. “This approach has yielded exceptional returns for our LPs over the past 16 years and we're grateful for the confidence our investors continue to show in us.”
In addition to announcing the closure of Fund VII, Silverton Partners is pleased to announce the promotion of Matthew Saitta to Principal, Alyssa Dadoly to CFO & Operating Partner, and the addition of Aneesh Desai as an Associate on the investment team.
About Silverton Partners
The Silverton team partners with entrepreneurs who are dedicated to tackling growth markets and building lasting companies. In partnering with Silverton, companies benefit from its vast network and expertise from decades of growing and investing in successful businesses. Silverton Partners is based in Austin, TX, and was the initial institutional investor for AlertMedia, Billie, SailPoint, Silicon Labs, Storable, Self Financial, TurnKey Vacation Rentals, Wheel, WP Engine and The Zebra among others. For more information, please visit silvertonpartners.com.