The Lone Star State has more capital, as LiveOak closes its newest fund with $105 million


Texas may have suffered a heartbreaking defeat during last night’s NCAA men’s championship game, but the state does have something to celebrate today. Local outfit LiveOak Venture Partners, a venture firm focused exclusively on Texas-based startups, has closed a new fund with $105 million in capital commitments.

It’s the second vehicle for the firm, formed in 2013 by longtime investors Venu Shamapant, Krishna Srinivasan, and Ben Scott, all of whom met while working together at Austin Ventures in 2000 — and who seem to know what they’re doing a team.

LiveOak has already seen two of its portfolio companies sell for meaningful amounts (Digital Pharmacists sold last month to K1 Investment Management for more than $100 million; Opcity was snatched up last summer by News Corp for $210 million). They also have at least two portfolio companies whose valuations have risen considerably since LiveOak funded them, including CS Disco, which raised $83 million in January, and OJO Labs, which raised $45 million just a few weeks ago.

We were in touch with the trio late last week to learn more about what they are seeing on the local startup scene.

TC:  You’ve all been based in Austin for a very

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