BIP Capital, one of the most active venture capital firms in the southeastern United States, announced today the successful close of BIP Capital Venture Fund IV, surpassing its target of $100 million. Venture Fund IV will provide Series A and Series B financing for market-disrupting B2B SaaS and tech-enabled services companies focused on Enterprise SaaS, Healthcare IT, Digital Media, Dev Tools, and MarTech.
The firm will continue to focus on companies in the southeastern United States’ startup ecosystem, while also expanding into the Midwest where it has already begun making investments. BIP Capital currently has more than 30 companies in its investment portfolio.
In August, BIP Capital was named the most active venture capital investor in Georgia for the fourth consecutive time, as assessed by CB Insights. The market intelligence company also identified the rise in importance and number of investments in second-tier cities, a trend BIP Capital has noted in its own research.
“Increasingly, Atlanta and other cities outside Boston, New York City, and the San Francisco Bay Area are being recognized as vibrant innovation centers with promising opportunities for investment,” said Mark Buffington, co-founder and CEO of BIP Capital. “Since our founding, our mission has been to drive top quartile returns while also growing emerging company ecosystems. The close of Venture Fund IV will support us in continuing these endeavors. We’re proud of the successes we’ve been a part of to date, and we’re excited by the prospect of helping more companies grow into market leaders.”
BIP Capital’s focus on B2B SaaS in particular is indicative of the innovation in this category occurring in the Southeast. Georgia remains the Southeast’s SaaS innovation leader, with 349 deals totaling $1.7 billion invested since 2014.1
Buffington added that the $101 million Venture IV fund is comprised of capital invested by family offices, high-net-worth individuals (HNWI), and institutional investors.
Earlier this month, BIP Capital released its 2019 The State of StartupsSM in the Southeast eBook, which delivers a comprehensive overview of the venture capital and startup ecosystem in the region. The third annual report takes an in-depth look at startup activity throughout nine southeastern U.S. states over the five-and-a-half-year time period from January 1, 2014 through June 30, 2019. The report is free and can be read online: https://bip-capital.com/the-state-of-startups-2019.
About BIP Capital
BIP Capital is recognized as one of the most active and successful venture investors in the Southeast, serving entrepreneurs, investors, and operators to grow the emerging company ecosystem. It applies experience and process to make investment decisions and operational recommendations, allowing its portfolio companies to achieve and stay on a glide path of growth. Areas of focus include Enterprise SaaS, Healthcare IT, Digital Media, Dev Tools, and MarTech. For more information, visit www.bip-capital.com or follow BIP Capital on LinkedIn or Twitter @BIPCapital.
1 BIP Capital. The State of Startups SM in the Southeast. October 2, 2019.