NEW YORK (GenomeWeb News) – Southern Capitol Ventures, a venture capital firm that focuses on early-stage technology and life science companies in the Southeast and Mid-Atlantic, said today that it has closed on its second fund, worth $15 million.
Investors in the fund include Square 1 Bank, Capitol Broadcasting, and individual investors.
The firm, based in Raleigh, NC, launched in 2001 with a first fund of just under $5 million. It said its investments for the new fund will be in the range of $100,000 to $1,000,000.
Ben Brooks, a founder of Southern Capitol, told Local Tech Wire, a news service based in the Research Triangle Park area, that the company will invest in e-commerce firms as well as bioinformatics startups and “tools and devices on the biotech side.”
“We do not invest in molecules. We invest in technology we understand,” Brooks told Local Tech Wire.
Southern Capitol’s portfolio companies include Art.com, ChannelAdvisor, Motricity, Eminor, and Synthematix, a cheminformatics firm that was acquired by Symyx Technologies in 2005 for around $13 million.