Bip Capital Launches $300M VC Fund, Adds New Partner - Atlanta

Panoramic Ventures Launches with $300 Million Fund

BIP Capital, headquartered in Atlanta, has rebranded its venture capital division as Panoramic Ventures. This change coincides with the addition of a new partner, Paul Judge, and the launch of a substantial $300 million fund.

The firm aims to establish itself as a leading venture fund supporting the growth of startups in emerging tech cities nationwide.

Addressing a Funding Gap in the Southeast

While Miami has recently gained attention as a burgeoning tech hub, many cities throughout the Southeast have experienced a lack of large-scale venture funding since the early 2000s. Panoramic Ventures intends to become the primary fundraising destination for entrepreneurs located outside of established tech centers like Boston, Silicon Valley, and New York.

This strategic positioning comes as new technology hubs continue to develop across the country.

Atlanta's Potential as a Regional Hub

Atlanta, already home to several successful startups valued at over $1 billion – including Greenlight Financial and Calendly – possesses a thriving startup ecosystem.

The city has a significant opportunity to become the central hub for venture capital investment in the Southeast, encompassing other rapidly growing tech centers such as Birmingham, Miami, Nashville, and New Orleans.

This approach mirrors the successful strategy employed by Drive Capital in the Midwest and throughout the U.S.

The New Partnership and Fund Size

Operating under the Panoramic Ventures brand, the venture activities will be guided by the new partnership, notably including prominent early-stage Atlanta investor Paul Judge.

Successfully raising the targeted $300 million would establish Panoramic Ventures as the largest venture fund in the Southeastern region.

Mark Buffington, a co-founder of both BIP Capital and Panoramic Ventures, emphasized the importance of a fund of this magnitude, stating that the increasing venture activity in the region necessitates a venture fund capable of scaling alongside growing companies.

Investment Strategy and Focus on Diversity

Panoramic Ventures plans to be actively involved in seed-stage funding. It will also maintain the capacity to invest in companies at later stages of venture backing.

The firm is committed to supporting a more diverse group of entrepreneurs, a goal bolstered by the inclusion of Paul Judge in the partnership.

Paul Judge is a Black entrepreneur and investor with a proven track record, having co-founded voice recognition technology firm Pindrop, Wi-Fi startup Luma Home, and security technology developer Purewire.

He actively invests in numerous Southeast startups through initiatives like Techsquare Labs and serves on the investment committee for the SoftBank Opportunity Fund, which focuses on founders from Black, Hispanic, and Native American communities.

His investment portfolio includes companies such as LeaseQuery, Cove.tool, OncoLens, and Eventeny.

Early Commitments and Collaboration

Approximately $125 million in commitments have already been secured for the new Panoramic Ventures fund.

The fund intends to collaborate closely with other investment firms that have established a presence in the Southeast, including Outlander Labs, founded by Paige and Leura Craig, and Mucker Labs, which has an investment partner based in Nashville.

Paul Judge highlighted the need for a venture fund with significant resources and energy in Atlanta, stating that Panoramic Ventures is designed to address this gap.

Investment Focus Areas

Panoramic Ventures will participate in seed, Series A, and Series B funding rounds.

Investment will be directed towards companies specializing in business-to-business software-as-a-service (SaaS), healthcare software, financial technologies, digital media, cybersecurity, and emerging technologies.