Austin Ventures' $900 million VC fund was supposed to make the city the next startup hub. But it wasn't until the fund folded that Austin's tech scene flourished.

· *Austin, Texas, was home to Austin Ventures, a large investment firm that, at its peak, had about $900 million in assets under management.*
· *The firm specialized in venture-capital investments in the Texas capital's growing tech scene. But as its fund grew, partners struggled to support young tech companies.*
· *Many...