B2B Software VC Firm Elsewhere Announces $175M Fund – PYMNTS.com

Venture capital firm Elsewhere Partners announced Thursday (May 12) it had closed Elsewhere Partners II, L.P., a $175 million fund.

Based in Austin, Texas, the company funds B2B software companies that it deems “Elsewhere Outliers,” or businesses based outside of traditional venture capital hubs.

“Not every B2B software founder subscribes to the hyper-growth mentality that tends to run rampant in traditional investment circles,” Chris Pacitti, founder and partner at Elsewhere Partners, said in a press release. “Investing, both our capital and our network, in companies that don’t always get the attention they deserve from the startup funding ecosystem at large, we’ve been able to make deeper connections and partner with founders on the path toward a meaningful exit.”

Working with “capital-efficient” software startups that have gained customer traction and begun to generate substantial revenue, Elsewhere will continue to focus on companies in sectors that include infrastructure,…

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