Bull City Venture Partners Exceeds Target, Closes Fund at $26 Million

  Bull City Venture Partners Exceeds Target, Closes Fund at $26 Million

Business Wire

DURHAM, N.C. -- June 16, 2014

Bull City Venture Partners, a Durham, N.C.-based venture capital fund today
announced it has closed its oversubscribed Bull City Venture Partners Fund
III, L.P., with approximately $26 million in capital commitments. Limited
partners include Blue Cross and Blue Shield of North Carolina, Capitol
Broadcasting Company, Cisco, venture capitalist Brad Feld, Grosvenor Capital
Management, Industry Ventures and Red Hat.

Bull City Venture Partners is focused on investments in early, seed, and
growth stage companies. The firm typically invests in software, health
information technology, mobile, internet, e-commerce, and digital media
companies. It seeks to partner with the very best entrepreneurs to solve large
problems. The fund’s two principals have a long history working with success
stories that include ArtusLabs (acquired by PerkinElmer NYSE:PKI),
ChannelAdvisor (NYSE:ECOM), and WeddingWire.

“Jason Caplain and I are pleased to have a new fund in which to invest and we
appreciate the trust our limited partners have placed in us as stewards of
their capital,” said David Jones, co-founder and general partner, Bull City
Venture Partners. “We are looking forward to finding and working with more
great entrepreneurs in the years ahead.”

“Cisco has a tradition of cultivating innovation in North Carolina. BCVP is
one of the top funds providing strong access and visibility to leading
entrepreneurs, talent and deal opportunities in technology in our region. We
are excited to be a part of the BCVP Fund III and look forward to supporting
the local start-up and entrepreneurial community as part of this effort,” said
Cisco vice president of US Sales and member of Cisco RTP’s Executive Advisory
Board, Bill McCarthy.

“Red Hat is a company born and bred in North Carolina. We’ve experienced
tremendous success here and have found the area to be rich with talent,” said
DeLisa Alexander, executive vice president and chief people officer, Red Hat.
“We feel a keen responsibility to foster innovation in this region and to help
entrepreneurs have an opportunity to bring compelling new products and
technologies to market. We are thrilled to be partners with Bull City Venture
Partners in this effort.”

About Bull City Venture Partners

Based in Durham, N.C., Bull City Venture Partners is a venture capital firm
focused on partnering with the best technology entrepreneurs to create
market-leading companies. Learn more at http://www.bcvp.com.

   Red Hat is a trademark of Red Hat, Inc. in the U.S. and other countries.


Bull City Venture Partners
Jason Caplain, 919-789-1412
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