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Kia Kokalitcheva Mar 5, 2017
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VC firm raises $85 million to not invest in Silicon Valley

Jeremy Keith / Flickr CC

Coastal technology hubs like Silicon Valley and New York tend to get the most attention, but two Austin-based investors believe there are plenty of startup opportunities in other cities. Next Coast Ventures founders Mike Smerklo (former ServiceSource CEO) and Tom Ball (ex-Austin Ventures) have raised $85 million for their firm's inaugural fund, and plan to invest in emerging tech markets across the country.

Next Coast Ventures will focus on software-based startups and will invest in Series A and B rounds. It already has some portfolio companies, including Umuse, Dropoff, OnRamp, Phlur, Cloverpop and Clarity Money.