Former Rackspace execs form Austin VC firm

Three former Rackspace Hosting Inc. executives have quietly launched a venture capital firm in Austin.

Lanham Napier, the San Antonio company’s former CEO, founded BuildGroup Management LLC in June with former Rackspace General Counsel Alan Schoenbaum and former Rackspace General Manager Jim Curry, according to their online profiles.

BuildGroup, which operates a bare-bones website, describes itself as a “growth outfitter that equips entrepreneurs for the long haul.” The website doesn’t list any investment information, fund sizes or portfolio companies.