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As Atlanta rings in the New Year, it's a good time to look back at what we accomplished in 2019.
Atlanta startups broke an all-time record for VC funding raised in the community last year. That feat couldn't have been possible without the help of local VC funds, which is why we're taking a look at the funds that closed in 2019.
Don't see a VC fund listed? Email mhogan@americaninno.com.
October
- BIP Capital closed its $101M venture fund at the tail end of October. The fund will be used in Series A and Series B rounds for B2B SaaS startups and tech-enabled services companies with a focus on enterprise SaaS, health care IT, digital media, dev tools and martech.
- Georgia State University’s Entrepreneurship and Innovation Institute announced the 2020 cohort of the Main Street Entrepreneurs Seed Fund. The fund, supported by the Marcus Foundation, was created to support entrepreneurs and companies that promote diversity and variety in race, ethnicity, gender and ideas. The goal of MSESF is to create at least 10 new businesses in the metro Atlanta area by June 2020 with a $300K grant.
- Atlanta-based early-stage venture capital firm Valor Ventures announced the first close of its second fund. The VC firm is vying for a $25M fund and has closed a little more than one-third of its goal. The firm’s general partner and founder, Lisa Calhoun, is the first woman in the state to raise a VC fund, according to a news release. Valor’s second fund plans to help support founders scale with programs such as Startup Runway, Atlanta Tech Park and Valor’s Innovation Council, which consists of more than 50 corporate leaders.
August
- Algo Capital, an Atlanta-based financial institution focused on accelerating access, adoption and liquidity of the Algo, the native digital currency of the Algorand blockchain, closed its Algo VC Fund at $200M. The fund surpassed the firm’s original goal of $100M and will invest in businesses that are building on the Algorand technology platform. In addition to direct investments, Algo Capital plans to invest in early-stage startups through partnerships with venture studios and accelerators in Atlanta and around the world.
May
- Atlanta-based early growth equity firm NMP Management Corporation completed fundraising for its latest fund, Noro-Moseley Partners VIII, L.P, and outperformed its goal. Noro-Moseley Partners raised about $30M over its target of $150M, making it one of the largest funds in the Southeast United States at $180M. Investors in the fund include public and sovereign pension plans, leading health plans and health systems, foundations, endowments and family offices.
