US-based venture capital firm Bull City Venture Partners has closed its third fund with approximately $26m in capital commitments from companies including media group Capitol Broadcasting Company, networking company Cisco, open-source software company Red Hat and health insurance company Blue Cross and Blue Shield of North Carolina.
Bull City will invest through the oversubscribed Bull City Venture Partners Fund III in companies in the early, seed and growth stages that are active in the software, health technology and digital media markets.
Other limited partners in the fund include private investor Brad Feld, hedge fund Grosvenor Capital Management and investment firm Industry Ventures.
David Jones, co-founder and general partner of Bull City Venture Partners, said: “We appreciate the trust our limited partners have placed in us as stewards of their capital. We are looking forward to finding and working with more great entrepreneurs in the years ahead.”