Stories of Technology, Innovation, & Entrepreneurship in the Southeast

JumpStart Ventures:

JumpStart Ventures has announced the successful first close of NEXT Fund III, raising nearly $25 million toward its $50 million target. NEXT Fund III is supported by funding from the State of Ohio from its State Small Business Credit Initiative, institutional and private investors and reinforces JumpStart Ventures’ commitment to providing tech founders with the capital they need to scale their start-ups.

NEXT Fund III will invest in Seed and Series A start-ups and build upon JumpStart Ventures’ two decades of experience supporting high-growth new ventures with risk capital while generating top returns for their investment partners.

NEXT Fund III is JumpStart Ventures’ third fund under its NEXT model and its eighth venture capital fund overall. With this first close, JumpStart Ventures is positioned to continue its momentum of funding high-growth start-ups.

JumpStart Ventures manages four unique investment funds to drive startup growth, pairing stage-appropriate capital with deep connections and partnerships. As one of Ohio’s most active early stage investors, the organization’s investment activities have generated top quartile investment returns via nationally recognized exits and fundraises. NEXT Fund III will continue these efforts by investing in approximately 15 startups in the coming years.

Foundation Capital:

Foundation Capital has announced its 11th fund, a $600 million vehicle focused on backing extraordinary founders as early as possible.

In the announcement posted on its website, Foundation writes, “For us, early doesn’t simply mean early stage. It means being there at day zero, side by side with founders as they tackle their earliest and most fundamental challenges. Sometimes that means spending many months ideating with a founder at the whiteboard before their company has a name. Other times, it means recognizing the spark in a prototype built in a dorm room.

The firm was founded in October 1995 and was one of the original investors in Netflix.

Soul Street Ventures:

Soul Street Ventures, which declares it puts founders first and spreadsheets second, has announced the successful closing of its $22.5 million inaugural fund, marking a significant milestone for the firm. This achievement highlights Soul Street’s strong positioning in the venture capital space and reflects the confidence of its investors as the firm looks to redefine early-stage investing through a uniquely hands-on, founder-focused approach.

Soul Street Ventures takes an innovative, hands-on approach to early stage investing by focusing on fewer companies, allowing for deeper involvement and personalized guidance. The firm invests with intention, targeting founders who are developing transformational technologies and building sustainable, growth-oriented businesses. By offering both capital and strategic support, Soul Street Ventures aims to redefine the venture landscape and provide startups with the resources they need to scale effectively and efficiently.

The new inaugural fund will enable Soul Street Ventures to continue its mission of supporting high-potential early stage start-ups. In contrast to traditional venture firms, Soul Street focuses on a smaller, more curated portfolio, ensuring each company receives personalized, strategic guidance from a dedicated team.

“Securing this $22.5 million fund is a powerful milestone for Soul Street Ventures and a reflection of our deep commitment to the venture community,” said Prasanth Chilukuri, Co-Founder of Soul Street Ventures. “We’re not just providing capital; we’re partnering closely with founders who are building meaningful, enduring businesses. With our operational expertise as former CEOs, we aim to help each portfolio company strategically navigate early growth hurdles, scale efficiently, and drive long-term success. We’re already seeing positive momentum, having invested in seven promising companies innovating in transformative ways.”

Fusion Fund:

Fusion Fund has officially announced its fourth early stage venture capital fund, Fusion Fund IV, aiming to address the critical challenges and opportunities arising from rapid digitalization across healthcare, enterprise, and industrial tech. With $190 million in committed capital, Fusion Fund IV builds on the success of Funds I, II, and III by focusing on next-generation technology and artificial intelligence solutions to meet the rising demands for efficiency and scalability across industries. This new fund, which was heavily oversubscribed after less than six months of fundraising, underscores Fusion Fund’s value proposition in the early-stage venture capital landscape.

Founded in 2015 by Managing Partner Lu Zhang, Fusion Fund has consistently supported technically driven entrepreneurs leveraging data and technology to redefine industries. Many companies across the portfolio have experienced dramatic growth in the past two years, further reinforcing Fusion Fund’s position as a key player in the early-stage venture ecosystem.

Fusion Fund IV builds on this legacy, bringing the firm to more than $500 million in total assets under management. The fund’s Limited Partner (LP) base is comprised of a diverse cohort of institutional LPs, including endowments, foundations, sovereign wealth funds, large corporates, fund-of-funds, and strategic family offices. Securing an oversubscribed fourth fund in half a year from this institutional base, including many returning LPs from previous funds, is a powerful testament to the team’s proven track record of success.

---