LiveOak has raised over $100 million to back Texas-based startups

Texas has the second-largest state economy in the U.S. but, when it comes to venture capital investment, the Lone Star State last year ranked 4th in terms of dollars raised and 6th in terms of the number of companies funded. A big part of the problem has been a relative lack of in-state VC firms and, in particular, new in-state firms that remain committed to early-stage opportunities. That’s where Austin-based LiveOak Venture Partners is hoping to step in, today announcing that it has closed its debut fund with around $109 million in capital commitments.