Wednesday, June 13, 2018

BuildGroup Raises $330M For Software Investments

Austin-based BuildGroup, a venture capital investment fund focused on software investments, says it has raised $330M in a fund. According to the fund, it is looking to invest those funds over the next five years, to back approximately 10 emerging software companies. the fund--founded by Rackspace alums Lanham Napier, Jim Curry and Klee Kleber, plus Pete Freeland from General Catalyst Partners, says it is looking invest in "software companies with ambitiously humble leadership teams who are aiming for long-term success." BuildGroup says it has so far deployed $57M out of the $330M, across four investments: CDSC, Anaconda, Fiix, and Valkyrie Labs.