Facebook investor Jim Breyer picks Austin as Breyer Capitals second home

The move is a sign of Austins growing clout as a technology hub and another indication that Silicon Valley, New York and Boston may have more competition from a growing collection of cities for tech talent and national attention.

Breyer has always had an eye on markets outside the Valley, but typically those endeavors meant international expansion through IDG Breyer or planned forays to deploy capital in the Middle East or other international tech hotspots.

The new Austin effort comes after several years of thinking through where would be the most interesting place to expand Breyer Capital outside of Silicon Valley, he said in an interview.

Breyer has several investments in Los Angeles, New York and other cities beyond the Bay Area, but a close relationship with Michael Dell and a seat on the Dell board left him with a hankering for more than just barbecue and personal computers.