The 'Godfather of Atlanta tech' is helping founders avoid Silicon Valley by raising the largest fund in the Southeast thumbnail


Summary List PlacementPaul Judge is a hectic guy. He’s made the moniker “Godfather of Atlanta’s tech scene” by establishing business like Luma House and Purewire, in addition to purchasing startups across the Southeast.
Now he’s partnering with Atlanta-based BIP Capital and is out raising money for Panoramic Ventures, a new fund with a $300 million goal and the mission of supporting varied creators outside of Silicon Valley..
” Atlanta and the Southeast have actually been on a tear for the last decade with the growth of tech start-ups,” Judge told Insider. “The area is prepared for a fund of this scale to purchase companies across stages from Seed to Series B.”.
Judge has remained in the VC world for years as a founder of early stage venture fund TechSquare Labs. He’s also on the investment committee for the SoftBank Opportunity Fund, the $100 million fund introduced by the investing giant in mid 2020 to back business established by individuals of color.
If Panoramic Ventures reaches its targeted $300 million, it will be the largest venture fund in the Southeast. It already has spoken dedications of about $125 million, a spokesperson informed Expert.
The fund will also concentrate on business based in the Southeast and Midwest, which Mark Buffington, cofounder of Scenic Ventures and BIP Capital, suggests it will be making a mindful effort to discover neglected opportunities.
” You no longer need to headquarter your start-up in Silicon Valley to raise money, which is evidenced by the unicorns that the Southeast has actually produced over the previous six months alone,” Buffington stated..
He’s referring to companies like Calendly and Greenlight Financial, who attained billion-dollar appraisals. In basic, Atlanta has actually emerged in recent years as a growing tech hotspot.
Buffington says the fund will invest throughout all phases in order to “discover chance early and accelerate development.”.
The fund has a specific focus on supporting varied creators. Less than one percent of equity capital funding goes to Black creators, and less than 3 percent goes to female founders, research study shows.
Judge said he’s eager to use his experience as a veteran financier in varied founders, along with his personal experience as a Black entrepreneur..
” It is very important for varied founders to see someone that looks like them on the other side of the table. Someone that has common experiences,” he said. “This is how we open access to the tremendous wealth-building capacity of the tech industry for a wider range of people.”.

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