Ballast Point Ventures hits $164m Fund III final close

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money dollar capital fishingFlorida-based investment firm Ballast Point Ventures has held a final close for its third fund on more than $164m.

The firm was initially targeting $140m for Ballast Poinnt Venture III, which will continue the firm’s strategy of targeting rapidly-growing private companies in Texas and the south-eastern US.

BPV was founded in 2002 and has since partnered with more than thirty companies through its first two funds.

It targets industries including healthcare, tech-enabled business services, communications and consumer goods.

Partner Drew Graham said, “The BPV team appreciates the strong support of both our previous investors who have partnered with us again and a select group of new partners who are joining us in BPV III.

“We are excited to continue helping entrepreneurs build outstanding growth companies throughout Florida, the Southeast and Texas, and we are encouraged by the high level of entrepreneurial activity we continue to see in the region.”

Ballast Point recently made its first investment through Fund III in PowerDMS, a technology-enabled business services company based in Orlando, Florida.

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