Today we announced the successful close of BIP Capital Venture Fund IV, surpassing our target of $100 million. Venture Fund IV will focus on Series A and Series B investments for market-disrupting B2B SaaS and tech-enabled services companies focused on Enterprise SaaS, Healthcare IT, Digital Media, Dev Tools, and MarTech.
With more than 30 companies currently in our investment portfolio, we will continue to focus on businesses in the Southeast startup ecosystem, while also expanding into the Midwest where we have already begun making investments.
“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.”
Our focus on B2B SaaS is indicative of the innovation occurring in the Southeast. Georgia remains the Southeast’s SaaS innovation leader, with 349 deals totaling $1.7 billion invested since 2014, as we noted in the 2019 The State of Startups(SM) in the Southeast eBook (the report is free and can be read online).
We look forward to partnering with entrepreneurs to support their growth and that of the overall innovation ecosystems of the Southeast and Midwest.