# Next Coast Ventures

Next Coast Ventures is a Venture Capital based in Austin, United States.

## Overview

- **Organization type:** Venture Capital
- **Headquarters:** Austin, United States
- **Region:** North America
- **Address:** Austin, TX, United States
- **Founded:** 2016
- **Assets under management:** $200M–$500M (Altss estimate)
- **Website:** nextcoastventures.com
- **LinkedIn:** https://www.linkedin.com/company/next-coast-ventures

## Regulatory record

- **CRD number:** 283699
- **SEC file number:** 802-136396
- **Registration status:** Registered
- **Reports private funds:** Yes
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/283699

## About

Next Coast Ventures is built for entrepreneurs, by entrepreneurs. The firm invests in emerging “next coast” companies at the critical stage of development to launch them into hyper-growth. It backs early-stage, high-growth startups outside the coasts and partners with founders using a thematic, data-driven approach rather than focusing on sectors.

## Sectors

- Enterprise Software
- AI/ML
- Digital Health
- Marketplaces
- PropTech
- FinTech

## People

- Mike Smerklo — Co-founder & Managing Director
- Thomas Ball — Co-founder & Managing Director

## Questions

### Who runs investment decisions at Next Coast Ventures?

Co-founders Mike Smerklo and Thomas Ball serve as Managing Directors and make investment decisions together. Smerklo previously founded and took public the SaaS company ServiceSource, while Ball co-founded the Austin-based social media management platform Spredfast and earlier led enterprise sales at Bazaarvoice. Both are active operators who draw on personal exit experience when evaluating founders.

### What does "Next Coast" mean and which markets does the firm actually target?

The term is the firm's own label for high-growth startup hubs outside coastal venture strongholds — primarily Austin, Dallas, Denver, Atlanta, Phoenix, and other cities across the American South, Southwest, and Midwest. The thesis holds that these markets produce strong technical founders who face a structural capital gap compared to Silicon Valley or New York peers. The firm co-locates its entire partnership in Austin, embedding in the ecosystem it serves.

### How does Next Coast source deals in markets outside its headquarters?

The firm relies on an "Entrepreneurs Council" of more than two dozen experienced operators distributed across target geographies. These scouts are not full-time Next Coast employees; they are active founders and executives who alert the partnership to promising early-stage companies in cities like Denver and Atlanta and occasionally co-diligence opportunities. This distributed sourcing layer is the firm's practical answer to the challenge of being a single-office fund serving a multi-city thesis.

### What is the mentor-in-residence program and how does it differ from typical venture operating partners?

The EIR program places seasoned operators inside portfolio companies for months-long embedded engagements — executing product launches, building sales playbooks, or standing up finance functions — rather than offering periodic board-level advice. The firm absorbs program costs at the fund level, so startups receive operational talent without adding permanent headcount before they can afford it. EIRs rotate across multiple portfolio companies, making the model more akin to an in-house consulting bench than a traditional venture advisory function.

### What investment stages does Next Coast Ventures typically target?

The firm focuses on Seed through Series B, with initial checks ranging from $2 million to $10 million. It frequently leads or co-leads rounds and reserves significant capital for follow-on investments across the life of its funds. The portfolio includes both pure early-stage positions and selective growth-stage follow-ons in existing portfolio companies.

### What is Next Coast's known posture on co-investments alongside external GPs?

Next Coast regularly syndicates rounds with other early-stage firms, particularly those with domain expertise in enterprise SaaS or with geographic overlap in "Next Coast" cities. It has co-invested with Austin-based peers including Silverton Partners and elsewhere with national firms looking for local lead partners. The firm does not operate a club-deal or SPV aggregation model — co-investments are traditional equity syndications.

## Related profiles

- [Next Capital Partners](https://altss.com/profile/next-capital-partners)
- [Next Gear Ventures](https://altss.com/profile/next-gear-ventures)

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Last updated: 2026-08-11T15:07:34.613Z

Canonical page: https://altss.com/profile/next-coast-ventures

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