Austin Ventures Invests Another $50 Million In An Online Startup

You know what they say: 50 million here, 50 million there, and pretty soon it starts to add up to real money.

For the second time in two months, Austin Ventures has committed $50 million toward the creation of an online startup company.

This time, the area's leading venture capital firm is putting its money behind the creation of Atcor Holdings Inc., a new company that will acquire online advertising, marketing and digital media companies.

Atcor will be based in Orange County, California, and will be led by former MySpace and Buy.com executive Sherman Atkinson.

In April, Austin Ventures announced it was putting up $50 million to back a corporate social networking software and services company headed by Razorfish co-founder Jeffrey Dachis.

Austin Ventures also is the lead investor in a deal reported earlier this month to buy Entrepreneur Media, a publisher that serves small-business owners.