US-based venture capital firm Overline has closed its first fund on $27.4m with commitments from marketing software producer MailChimp and communications and automotive media conglomerate Cox Enterprises.
MailChimp was the anchor investor in the fund, which also received commitments from VC firms Social Leverage and Hallett Capital as well as individual investors David Cummings and David Cohen.
Overline makes seed-stage investments in technology developers primarily located in the city of Atlanta and the southeastern region of the United States, typically leading rounds sized between $250,000 and $1.5m.
The firm was established in 2020 by Michael Cohn, a co-founder of cloud-based enterprise software reseller Cloud Sherpas, and Sean O’Brien, former chief strategy officer at online event services provider, Premiere Global Services.
Overline has already backed at least 12 startups including chicken feed producer Grubbly Farms and rental accommodation platform developer PadSplit.