Ex-Southern Capitol Ventures execs’ new fund beats $25m target


Computer_software_techLPs including Cisco have helped a pair of former Southern Capitol Ventures execs close their new firm’s debut fund above its $25m target.

Bull City Ventures Partners also picked up commitments from investors including Blue Cross and Blue Shield of North Carolina, Capitol Broadcasting Company and Red Hat for the fund, which held a final close on $26m.

Despite being labelled Fund III by the firm, the vehicle is the first raised by founders Jason Caplain and David Jones since launching Bull City last year.

The pair are still listed as part of the Southern Capitol Ventures team, which lost general partner Dave Murray when he died unexpectedly in 2012.

Cisco vice president of US sales Bill McCarthy said, “BCVP is one of the top funds providing strong access and visibility to leading entrepreneurs, talent and deal opportunities in technology in our region.”

The US venture capitalist fund focuses on early, seed and growth-stage companies, investing in software, health information technology, mobile, internet, e-commerce, and digital media companies.

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