More than a few beers have been spilled inside La Zona Rosa. The concert venue has hosted hundreds of rocking concerts, including Prince, and dozens of crowded parties.

Now, the space serves a slightly different purpose during the day, while retaining elements of its previous mission. La Zona Rosa has rebranded as LZR, a 10,000-square-foot space with a lounge, bar and, yes, a stage — though it’s now outdoors.

The space at 612 W. Fourth St. can be rented for company parties, weddings and other events. And it has multiple configurations, including a 6,600-square-foot warehouse area for big events with up to 900 people.

A separate portion of the space is also the new home to Vast, a big data analytics company used by big auto and real estate businesses.

Vast’s CEO John Price is a partner in the LZR project, along with Nate Paul, CEO of holding and management company World Class.

The venue is also home to Vast’s lead investor — March Capital. The venture capital firm, which closed on a $240 million fund last year, is based in Santa Monica, Calif. But it has an Austin office anchored by former Austin Ventures partner Jim Armstrong. Armstrong spends about a week a month in Austin scouting deals. In addition to Vast, March Capital has invested in Austin cybersecurity startup SpyCloud.

Armstrong, along with Vast’s team, will be working inside an Austin musical landmark. I remember seeing Tomahawk play La Zona Rosa back in 2001. The venue changed hands several times, but always seemed to attract interesting acts, including Adele, Merle Haggard, A Tribe Called Quest, Amy Winehouse, Willie Nelson and Prince (see some video here).

“LZR has deep roots in Austin,” Paul said in a news release. “The building itself embodies that feeling of true Austin. John and I wanted to keep that feeling alive. It’s the perfect place for showcasing what Austin is all about—which happens to be both new and old.”

Here’s a look inside.