Overline Seed Fund I targets institutional funding gap for seed-stage businesses in Atlanta and the Southeast
Atlanta, GA. (March 24, 2020) – – Overline, an Atlanta-based early-stage venture capital firm, today announced the initial closing of Overline Seed Fund I, LP, with commitments totaling $17.5 million toward its target of $25 million. The fund is expected to announce its final closing this summer.
Established in 2019 by founder-operators, Michael Cohn and Sean O’Brien, Overline is focused on investing in seed-stage businesses, primarily in Atlanta and the Southeast region of the United States. As a generalist fund, Overline Seed Fund I will lead investments across multiple industries, with capital commitments ranging from $1 million to $1.5 million per company.
“We are thrilled and humbled to have received support and investments from many of the region’s leading technology companies, entrepreneurs and investors,” said Cohn. “We launched Overline to target a persistent gap in the regional funding ecosystem. Specifically, the lack of institutional lead investors willing to write the first check into a business—whether at initial concept stage, or with an MVP product and early market traction. It is clear that our message is resonating with both founders and investors alike.”
Overline Seed Fund I is anchored by marketing platform, Mailchimp, with investments from Cox Enterprises, entrepreneur-investor and Atlanta Tech Village Founder, David Cummings, Hallett Capital, Techstars Co-Founder, and Managing Partner, David Cohen, and other notable investors from across the country.
“Atlanta, and the Southeast more broadly, has all of the ingredients to make it a world-class startup market, including a diverse and educated workforce, a growing economy, and a low cost of living and high quality of life. Despite this foundation, the region continues to be under-served by venture capital, especially at the earliest stage of a company’s lifecycle,” said O’Brien. “We set out to change the narrative with Overline and to build a venture platform that supports founders with more than just capital. Our goal is to foster and grow a vibrant, inclusive community that becomes a launchpad for the next generation of local entrepreneurs.”
Overline takes a hands-on approach to supporting its portfolio companies, providing key introductions to its network of prospective customers, partners, investors, and top talent. In addition, Overline has built a world-class Operating Partner network, comprised of the region’s leading domain experts. These experts will help Overline portfolio companies create an unfair advantage by providing strategic and operational insights in key areas like product, technology, finance, and go-to-market.
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