WRAL TechWire reports that Durham-based Bull City Venture Partners has closed Bull City Venture Partners Fund IV L.P., an oversubscribed $53 million fund.
The firm focuses its investments on seed and early stage companies in the Southeast and Mid-Atlantic. With the new funding and five exits in the past eight months, Bull City will be able to double-down on its existing strategy. At $53 million, Fund IV is more than twice as much as the firm raised in its third fund, $26 million and brings the assets under its management to more than $100 million.
One of Bull City’s active portfolio companies is Get Spiffy, the fast-growing Research Triangle region start-up that acquired Pit Crew last September. The latter company was co-founded by several former University of Tennessee, Knoxville students as we detailed in this March 2019 teknovation.biz article.