BPVIII exceeds target, closes at $164 million, makes first investment

January 28, 2015

Ballast Point Ventures announces the final closing of its third venture capital fund. Ballast Point Ventures III and affiliates closed with commitments of more than $164 million, exceeding its initial target of $140 million.

Founded in 2002, Ballast Point Ventures provides growth equity venture capital to rapidly growing private companies in the Southeast and Texas. BPV has partnered with over thirty companies in its first two funds within its target industries of health care, technology-enabled business services, communications and consumer. The new Fund’s investors include large institutional investors, family offices and over sixty successful entrepreneurs.

“The BPV team appreciates the strong support of both our previous investors who have partnered with us again and a select group of new partners who are joining us in BPV III,” said Partner Drew Graham. “We are excited to continue helping entrepreneurs build outstanding growth companies throughout Florida, the Southeast and Texas, and we are encouraged by the high level of entrepreneurial activity we continue to see in the region.”

Ballast Point Ventures has been the most active investor in Florida companies over the past ten years.* Ballast Point Ventures III recently made its first investment in PowerDMS, a technology-enabled business services company based in Orlando, Florida.  PowerDMS provides technology solutions utilizing a Software-as-a-Service model in the Governance and Risk Compliance and Enterprise Content Management sectors.

“We have been fortunate to partner with an impressive group of talented and driven entrepreneurs,” said Partner Paul Johan. “We cherish those relationships and look forward to partnering with more great entrepreneurs as we invest BPV III. Successful private growth companies not only create tremendous value and often reinvent industries, but they also provide the vast majority of new jobs in this country.”

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 * Growth equity and venture capital investments of at least $2 million in private Florida companies, based on 2003-14 data from the Dow Jones VentureSource database.

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