Cox Enterprises is launching a second $300 million fund under its Socium Ventures investment firm to nurture and support up-and-coming businesses.
Cox and Socium on Thursday announced the new fund, which will bring the total amount of investment capital under management to $600 million. Socium is a venture capital firm that focuses on investments of $3 million to $25 million in technology-led companies across many sectors, including public sector software, enterprise and vertical software, health care, financial technology and sustainability.
“Cox Enterprises has built innovative businesses for 126 years,” Dallas Clement, Cox president and chief financial officer, said in a news release. “This second round of funding for Socium Ventures strengthens our ability to partner with the next generation of original thinkers to create solutions to big problems and prosperity for the next generation.”
Cox, which has its headquarters in Sandy Springs, is one of the largest privately held companies in the U.S. Cox has core businesses that include broadband provider Cox Communications, Cox Automotive and media companies including Axios and The Atlanta Journal-Constitution.
The family-owned company has spent billions in recent years diversifying its holdings. Among those new ventures are more than $2 billion that Cox has invested in public sector technology, indoor agriculture and other sustainable businesses and technologies.
Credit: SPECIAL
Credit: SPECIAL
Socium, which launched in 2023, supports a portfolio of companies, including Carbyne, a New York-based emergency communications technology company. The venture fund has also made investments in Knowde, a marketplace for raw industrial components and other products, and Crisp, a cloud-based supply chain management and insights company.
“This second fund recognizes what we’ve accomplished since launching Socium Ventures last year,” Andrew Davis, Socium’s managing partner and Cox senior vice president of strategy and investments, said in the release. “Moving forward, we will continue our investing strategy to help early-stage businesses scale for a bigger impact. This is a formula that has worked well for us, and we are excited about our future prospects.”
Socium also announced Thursday that it is adding a seasoned partner to the firm.
David Yang, a veteran of Warburg Pincus and TA Associates, has joined Socium to support its growth and help its portfolio businesses.
Credit: SPECIAL
Credit: SPECIAL
Yang has previously invested in companies, including Chime, Digital Ocean, JOKR, Papaya Pay and Chinese e-commerce platform Pinduoduo.
“I’ve spent my career supporting founders and leadership teams who are building foundational companies,” Yang said in the release.
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