Durham, NC-based Bull City Venture Partners said Monday that it has raised approximately $26 million for its new fund. Its LPs include Blue Cross and Blue Shield of North Carolina, Capitol Broadcasting Company, Cisco, Grosvenor Capital Management, Industry Ventures and Red Hat. The pool will focus on early, seed and growth stage firms.
DURHAM, N.C.–(BUSINESS WIRE)–Bull City Venture Partners, a Durham, N.C.-based venture capital fund today announced it has closed its oversubscribed Bull City Venture Partners Fund III, L.P., with approximately $26 million in capital commitments. Limited partners include Blue Cross and Blue Shield of North Carolina, Capitol Broadcasting Company, Cisco, venture capitalist Brad Feld, Grosvenor Capital Management, Industry Ventures and Red Hat.
Bull City Venture Partners is focused on investments in early, seed, and growth stage companies. The firm typically invests in software, health information technology, mobile, internet, e-commerce, and digital media companies. It seeks to partner with the very best entrepreneurs to solve large problems. The fund’s two principals have a long history working with success stories that include ArtusLabs (acquired by PerkinElmer NYSE:PKI), ChannelAdvisor (NYSE:ECOM), and WeddingWire.
“Jason Caplain and I are pleased to have a new fund in which to invest and we appreciate the trust our limited partners have placed in us as stewards of their capital,” said David Jones, co-founder and general partner, Bull City Venture Partners. “We are looking forward to finding and working with more great entrepreneurs in the years ahead.”
“Cisco has a tradition of cultivating innovation in North Carolina. BCVP is one of the top funds providing strong access and visibility to leading entrepreneurs, talent and deal opportunities in technology in our region. We are excited to be a part of the BCVP Fund III and look forward to supporting the local start-up and entrepreneurial community as part of this effort,” said Cisco vice president of US Sales and member of Cisco RTP’s Executive Advisory Board, Bill McCarthy.
“Red Hat is a company born and bred in North Carolina. We’ve experienced tremendous success here and have found the area to be rich with talent,” said DeLisa Alexander, executive vice president and chief people officer, Red Hat. “We feel a keen responsibility to foster innovation in this region and to help entrepreneurs have an opportunity to bring compelling new products and technologies to market. We are thrilled to be partners with Bull City Venture Partners in this effort.”
About Bull City Venture Partners
Based in Durham, N.C., Bull City Venture Partners is a venture capital firm focused on partnering with the best technology entrepreneurs to create market-leading companies. Learn more at http://www.bcvp.com.