There’s a new $300 million fund based in Atlanta
Cox Enterprises launches Socium Ventures, a new fund within the diversified company focused on making investments in emerging growth businesses. The range of funding at the Series A and beyond level is in the range of $3 to $25 million.
Cox Enterprises, an Atlanta-based broadband, automotive services, and media corporation that is heavily involved in the start-up scene, has stepped up to the plate again with a big announcement.
The company that already underwrites two of Atlanta’s Techstars accelerators has launched Socium Ventures, a new fund within the company focused on making investments in emerging growth businesses. According to the announcement, “Socium Ventures will strive to support every stage of its portfolio companies’ development while building lasting relationships with founders and partners.”
The new $300 million fund, according to this article in Hypepotamus, is actively seeking future investment opportunities in the range of $3 to $25 million for Series A and beyond.
“Socium Ventures is a new chapter in the way Cox approaches our investment strategy, but it’s built on the same principles that guide all our businesses,” said Dallas Clement, President and Chief Financial Officer at Cox Enterprises. “Our goal is to create mutually beneficial partnerships that help these companies scale to their full potential. It’s a strategy that has worked for us in the past, and we’re excited for Andrew Davis to lead this effort. His long-time experience managing investments, including sourcing, diligence, and ongoing analysis, will be invaluable to us as we launch this new endeavor.”
Socium Ventures provides invested companies with a unique opportunity to leverage Cox’s infrastructure, including:
- Permanent capital from a single limited partner with a long-term time horizon and no specific liquidity timeline;
- Direct access to leaders who have strategic, operational and technical experience building markets from the ground up or scaling markets that are ripe for innovation; and
- An investment team with vast experience in public and private investing, including guiding notable companies to public exits from start to finish.
“We’re excited to launch Socium Ventures, Cox’s latest investment into the future,” said Alex Taylor, Cox Enterprises Chairman and Chief Executive Officer. “We’ll be looking for early-stage businesses that are solving big problems and leaving the world in a better place for the next generation.”
Cox is celebrating its 125th year in business and has a long history of honoring partnerships with trust, collaboration, and confidence. This combination has contributed to a high level of success and the growth and development of many innovative companies.