S3 Ventures Seeks $100 Million

S3 Ventures is raising up to $100 million for its inaugural fund, according to a regulatory filing. It already has secured around $20 million. The Austin, Texas-based firm is led by Brian Smith, a former managing director with Convergent Ventures who previously served as founder, chairman and CEO of Crossroads Systems (Nasdaq: CRDS). www.s3vc.com