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BIP Capital closes Venture Fund IV with USD101m

Venture capital firm BIP Capital has closed BIP Capital Venture Fund IV, with USD101 million in capital commitments, surpassing its target of USD100 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 recognised as vibrant innovation centres with promising opportunities for investment,” says 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 endeavours. 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 totalling USD1.7 billion invested since 2014.
 
Buffington added that the USD101 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 US states over the five-and-a-half-year time period from 1 January, 2014 through 30 June, 2019. The report is free and can be read online.

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