Breyer Capital has announced plans to open a new office in Austin.
The Silicon Valley-based venture capital and private equity firm, founded in 2006, is already an investor in Austin-based OJO Labs and Swivel.
“I personally will be spending significant time in the city, investing in new opportunities and working alongside longtime friends and colleagues,” Jim Breyer, CEO, and Founder of Breyer Capital wrote in a post “Introducing Breyer Capital Austin” on Medium on Tuesday.
Breyer is one of Silicon Valley’s most successful VCs. He was an early investor in Facebook and has invested in “more than 40 companies that have had successful IPOs or mergers including Etsy, Marvel Entertainment and Legendary Entertainment,” according to Forbes. Breyer is also on Forbes’ list of the world’s billionaires with a 2020 net worth of $2.5 billion.
“Breyer is the brother-in-law of Senate Majority Leader Mitch McConnell and his wife, U.S. Secretary of Transportation Elaine Chao,” according to Forbes.
“Breyer Capital’s Silicon Valley presence remains as important as ever, and at the same time, Austin offers a remarkable new frontier of opportunity,” Breyer wrote.
In his post, Breyer writes that “Austin today resembles a globally fascinating and fast-advancing geographic hub.”
He cites Austin’s “impressive pool of creative and dedicated women and men,” which is contributing to the city’s “robust climate of innovation.”
Breyer reports that he has spent a lot of time in Austin both personally enjoying films and music and professionally.
Breyer got to know Austin in the 1980s as a Dell board member and he considers Michael Dell and Mike Maples, a former Austin entrepreneur turned Silicon Valley VC, as friends.
Breyer spent 28 years at Accel Ventures before launching his own firm. He received his bachelor’s degree from Stanford University and a Master of Business Administration from Harvard Business School.
“Despite the fact that this is a historically tough moment for our nation and the world, Austin’s future, from my perspective, has never been brighter,” Breyer writes.
In his post, Breyer also cites the recent decision by Tesla to put a $1.1 billion plant in the Austin area as another reason to be optimistic about the city’s future. He also mentions major local investments by Facebook, Google, Oracle, and Apple.
“Some of the best founders I’ve backed in Silicon Valley started their careers at large companies,” Breyer said. “I predict that many founders and innovators will gain valuable experience working for exceptional companies in Austin and then stay in the city to build something themselves.”
Another big factor in Austin’s ability to innovate stems from the University of Texas at Austin and its “entrepreneurial and technical programs and leaders,” according to Breyer.
The Breyer Capital office is located at 301 West Ave, Suite 200, in downtown Austin.
