Next Coast Ventures
Next Coast Ventures is an Austin, Texas-based venture capital firm founded in 2015 by former operators that invests in "next coast" emerging-stage startups at the critical growth stage across 10 thematic areas, managing approximately $395M across two funds.
- Company typePrivate
- Founded2015
- HeadquartersAustin, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Next Coast Ventures does
Next Coast Ventures is an Austin, Texas-based venture capital firm founded in 2015 by former operators, including Co-Founder and Managing Director Mike Smerklo, who previously scaled ServiceSource to nearly $1B in public market value. The firm targets "emerging" or "next coast" companies at the critical "make or break" stage of development, deliberately investing outside the traditional coastal tech hubs of Silicon Valley, New York, and Boston. Its investment approach is thematic rather than sector-based, organized around 10 themes including Software 3.0, Digital Health, Future of Work, and Reimagining Marketplaces.
The firm manages two funds: Fund I of $85 million raised in March 2017 and Fund II of $310 million raised in March 2022, totaling roughly $395 million in committed capital. Its platform offering is not a product or technology but a structured set of services for portfolio founders: a 150+ operator expert network, company-building playbooks, dedicated Head of Platform function (held by Partner Kaitlyn DeBernardo), and recurring community events such as Digital Healthcare Breakfasts, Founder Summits, Sales Leaders Lunches, and Mental Health Reset sessions. Notable portfolio companies include Everly Health, TrustRadius, Diligent Robotics, Osano, AlertMedia, LeanDNA, CollX, Marqii, BrainCheck, and UpEquity.
Next Coast earns revenue through standard venture fund economics—management fees on committed capital (typically 2% of AUM) and carried interest (typically 20%) on successful exits—with monetization realized only as portfolio companies return capital. Deal sourcing is research-driven and relationship-led, supported by content marketing, regional events, an expert network, and a strategic partnership with DivInc to broaden underrepresented-founder access. The firm's competitive positioning rests on operator-experienced partners providing hands-on, pragmatic guidance rather than purely financial capital deployment.
Next Coast Ventures firmographics
Firmographics- Name
- Next Coast Ventures
- Legal name
- Next Coast Ventures, LLC
- Website
- https://nextcoastventures.com
- Company type
- Private
- Founded year
- 2015
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Next Coast Ventures is an Austin, Texas-based venture capital firm founded in 2015 by former operators that invests in "next coast" emerging-stage startups at the critical growth stage across 10 thematic areas, managing approximately $395M across two funds.
- Ownership category
- akta.pro rank
Next Coast Ventures industry classification
Industry- Product category
- Venture Capital
- NAICS
- Portfolio Management and Investment Advice (523940), Portfolio Management and Investment Advice (52394)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Geography-Focused Venture Capital (Regional/Emerging Markets) (FSANAAAE)
- akta.pro secondary industry
- Early-Stage Venture Capital (Series A/B) (FSANAAAB)
Keywords
Where Next Coast Ventures is headquartered
LocationHeadquarters
- HQ city
- Austin
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Next Coast Ventures business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D
Revenue model
- Management Fees and Carried Interest: As a venture capital firm, Next Coast Ventures generates returns through management fees (typically 2% of AUM) on committed capital across Fund I ($85M raised 2017) and Fund II ($310M raised 2022), and carried interest (typically 20%) on successful portfolio exits. The firm deploys capital into early-stage startups outside coastal tech hubs, targeting emerging companies at the 'make or break' stage for hyper-growth.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Fund II - $310M raised March 2022 |
| Other | Multi-year contract | Fund I - $85M raised March 2017 |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels6 records
Next Coast Ventures product offering
Product offeringCore offering
Next Coast Ventures is a venture capital firm that invests early-stage capital into emerging "next coast" startups (those outside traditional coastal tech hubs such as Silicon Valley, New York, and Boston) at the critical "make or break" stage of development. The firm deploys capital through Fund I ($85M, 2017) and Fund II ($310M, 2022), and supplements investment with hands-on operator support, a 150+ expert network, company-building playbooks, and a dedicated Head of Platform function.
Product overview
Next Coast Ventures is a venture capital firm based in Austin, Texas, that invests in emerging startups at the critical stage of development to accelerate hyper-growth. Rather than offering a unified product platform, the firm provides capital investment, strategic platform support services, access to a 150+ expert network, company-building playbooks, and operational guidance to its portfolio founders. The firm's investment focus spans multiple themes including Digital Health, Future of Work, Software 3.0, Retail (R)evolution, and others, with portfolio companies operating across healthcare technology, enterprise software, consumer platforms, and AI-powered solutions.
Differentiator
Problem solved
Functional benefit
Products and services
- Next Coast Ventures Fund I Venture capital fund that deploys equity into early-stage startups outside coastal tech hubs. Targeted at emerging companies at the critical growth stage, with participation typically across Series A and B rounds.
- Next Coast Ventures Fund II Venture capital fund continuing Next Coast's investment strategy in "next coast" emerging companies. Provides growth capital plus platform support to portfolio founders across Series A and B, with follow-on participation in later rounds.
- Portfolio Platform Support Operator-led support offering for portfolio founders that includes a 150+ expert network of current and former operators, company-building playbooks covering KPI development, recruiting, and succession planning, and dedicated partner-level attention for mission-critical initiatives.
Quantifiable outcome
- Multiple portfolio companies achieving 100+ million revenue (Everly Health), successful exits (TrustRadius acquired by HG Insights 2025, SiteOwl acquired by ASSA ABLOY 2025, Diligent Robotics acquired by Serve Robotics 2026), and multiple Inc. 5000 recognitions
Companies that use Next Coast Ventures
Customer profileSegments3 records
Ideal customer profiles2 records
Next Coast Ventures technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Next Coast Ventures partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- DivInccoreNCV and DivInc partnered to enhance access to the venture capital ecosystem for underrepresented entrepreneurs. This is a strategic partnership focused on diversity and inclusion in startup ecosystem.
Scale indicators5 records
Recent moves9 records
Expansion highlights6 records
Next Coast Ventures competitors and assessment
Company assessmentBroad incumbents
- First Round Capital: First Round Capital is a well-known US early-stage VC. It is a broader incumbent that pioneered the 'seed + community' model Next Coast echoes with its expert network and platform support, though at much larger fund scale and broader geographic scope.
- Floodgate: Floodgate is a Silicon Valley early-stage VC known for thematic, founder-friendly investing. While coastal, it shares Next Coast's thematic research approach, operator-led partnership model, and Series A focus, making it a relevant broader incumbent.
- Lerer Hippeau: Lerer Hippeau is a New York-based early-stage seed and Series A VC. While based on the East Coast rather than 'next coast,' it is comparable in fund size, thematic approach, and operator-led value-add, representing a broader incumbent in the early-stage VC space.
Direct peers
- S3 Ventures: S3 Ventures is Austin's first and largest VC firm focused on early-stage technology companies. It is the most direct peer to Next Coast Ventures, co-investing in multiple deals (BrainCheck, LeanDNA) and competing for the same Austin-based founder pool with comparable Series A check sizes.
- Silverton Partners: Silverton Partners is a long-standing Austin-based early-stage VC firm investing in Texas founders across enterprise and consumer software. It is one of Next Coast's most direct Austin competitors with overlapping portfolio themes and similar Series A/B check sizes.
- LiveOak Venture Partners: LiveOak is an Austin-based early-stage VC focused on Texas and Southwest founders. It competes head-to-head with Next Coast for Series A deals in B2B software and digital health, with a similar operator-friendly investment approach and comparable fund sizes.
- Capital Factory: Capital Factory is an Austin-based accelerator and early-stage investor with a Texas-focused thesis. It overlaps with Next Coast in providing both capital and platform resources to Austin founders, particularly at seed and Series A stages across enterprise software.
- Mercury Fund: Mercury Fund is a Houston-based early-stage VC investing in Texas and the broader South-Central US. It shares Next Coast's regional thesis of backing non-coastal founders at the Series A stage with comparable fund sizes and B2B software focus.
- Ridge Ventures: Ridge Ventures is a growth-stage VC focused on B2B software that has co-led deals with Next Coast (Flip CX $20M Series A). Comparable in B2B software thematic focus and Series A/B check size, with overlapping portfolio.
- Wild Basin Investments: Wild Basin is an Austin-based early-stage firm focused on Texas founders across enterprise and consumer categories. It is comparable in geographic focus and check size, competing for the same regional deal flow.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks5 records
Key highlights7 records
Customer concentration
Next Coast Ventures social profiles
Digital presenceNext Coast Ventures financial estimates
Financial estimateRevenue estimate
Valuation estimate
Next Coast Ventures leadership team
Management profileNumber of profiles
Profiles11 records
Next Coast Ventures funding detail
Funding detailFunding overview
Funding rounds1 record
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Next Coast Ventures M&A and investment
M&A and investmentM&A
Investments119 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Next Coast Ventures
What does Next Coast Ventures do?
Next Coast Ventures is a venture capital firm that invests early-stage capital into emerging "next coast" startups (those outside traditional coastal tech hubs such as Silicon Valley, New York, and Boston) at the critical "make or break" stage of development. The firm deploys capital through Fund I ($85M, 2017) and Fund II ($310M, 2022), and supplements investment with hands-on operator support, a 150+ expert network, company-building playbooks, and a dedicated Head of Platform function.
Is Next Coast Ventures a public or private company?
Next Coast Ventures is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Next Coast Ventures founded?
Next Coast Ventures was founded in 2015. It employs 11 to 50 people.
Where is Next Coast Ventures based?
Next Coast Ventures is headquartered in Austin, United States, in the North America region.
How does Next Coast Ventures make money?
One revenue line is on record: management Fees and Carried Interest.
Who are Next Coast Ventures's main competitors?
Broad incumbents on record are First Round Capital, Floodgate and Lerer Hippeau. Direct peers are S3 Ventures, Silverton Partners, LiveOak Venture Partners, Capital Factory, Mercury Fund, Ridge Ventures and Wild Basin Investments.
Does Next Coast Ventures have an API?
No public API is recorded for Next Coast Ventures.
What industry is Next Coast Ventures in?
Next Coast Ventures's product category is Venture Capital. Its primary akta.pro industry code is FSANAAAE, Geography-Focused Venture Capital (Regional/Emerging Markets), with a secondary code of FSANAAAB, Early-Stage Venture Capital (Series A/B). Its NAICS code is 523940 and its SIC code is 6282.