Venture capital firm Blue Delta Capital Partners announced a new $250 million fund well oversubscribed by market-leading institutional investors in a single closing.
“We are humbled by the overwhelming support of our investors. In addition, given our sector focus, we are very proud to once again have a fund that is comprised solely of U.S. investors,” said General Partner Kevin Robbins. “Since we began 15 years ago, we have been focused only on the federal government market and our track record of venture capital investing in this sector as a value-added partner to our management teams has been proven out by the industry-leading returns that our companies and our funds have achieved.”
The company said Blue Delta Capital Fund IV enables it to expand its success in the federal services sector by providing growth-stage venture capital investments of $15 million to $50 million in leading companies for non-controlling ownership positions.
“As a team of investors with deep operating backgrounds in the sector, we are uniquely positioned to coach and mentor the next generation of talent in the federal market,” said General Partner Phil Nolan. “This new fund will allow us to do more of the same ⏤ scaling companies through superior organic growth and occasionally augmented with selective tuck-in M&A ⏤ to fill the gap in the lower-middle market for differentiated, well-run $100+ million revenue businesses with strong technical capabilities, deep management teams, and superior customer intimacy.”
General Partner Mark Frantz added, “We were fortunate to be over-subscribed on our hard cap level before we even formally launched just a few weeks ago and with this new fund closed, we can now spend more time on what our investors pay us to do: work with our existing portfolio companies to build market leaders, close new investments in great companies, and keep working on some potential exits that are on the horizon.”
Cooley LLP (Aaron Velli and Katelyn Kimber) serves as fund counsel to Blue Delta.