VCs remain optimistic about Austin despite overall tech slowdown

VCs remain optimistic about Austin despite overall tech slowdown, was published in Crain’s Austin and was written by Mary Ann Azevedo.
Aziz Gilani, Partner at Mercury Fund, shares his insight into Austin’s sustainability as a thriving city for entrepreneurs.
Austin described as a city for entrepreneurs

While much of the nation is seeing declines in venture capital investment, the Austin market saw a big jump in the second quarter.

Austin-area companies raised $239.3 million for the three months ended June 30, 2016 ­– nearly double the $123.3 million raised in the second quarter of 2015, according to a recent Dow Jones VentureSource report. Nationally, venture capital investment was down nearly 20 percent for the same three-month period to $15.7 billion.

Despite the good quarter, Austin has not been immune to the slowdown in tech investment. Venture funding in the Texas capital declined about 10 percent to $390.1 million in the first half of the year, compared to the first six months of 2015.

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Posted July 2016 by | Midwest, Texas