Cox Enterprises Backs Socium Ventures with a Second $300 Million Fund, Reinforcing Commitment to Fostering Innovation

David Yang joins Socium Ventures as Partner

ATLANTA, Oct. 24, 2024 /PRNewswire/ -- Socium Ventures is a venture and growth investment firm focused on investing in durable and compounding companies. Today, Cox Enterprises announced the second fund for Socium Ventures, a $300 million investment, bringing the total managed capital to $600 million. Socium Ventures is actively seeking investment opportunities in the $3 million to $25 million range across industries and sectors experiencing technology-led growth, including enterprise and vertical software, advanced computer tools, public sector software, healthcare, fintech, B2B marketplaces and sustainability. The Socium Ventures team looks to support its portfolio companies across every stage of development with strategic and operational support as well as permanent capital over the long term.

"Cox Enterprises has built innovative businesses for 126 years," said Dallas Clement, president and chief financial officer, Cox Enterprises. "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."

Launched in June 2023, Socium Ventures, backed by Cox Enterprises, is looking to build on the strengths of the Cox platform, including its deep and permanent capital base as well as the strategic and operational expertise of Cox's $23 billion family of businesses. Socium Ventures' current portfolio of companies include New York-based Carbyne, a company revolutionizing how citizens engage with emergency services nationwide— and recently added Knowde and Crisp to the portfolio.

"This second fund recognizes what we've accomplished since launching Socium Ventures last year," said Andrew Davis, senior vice president of Strategy and Investments, Cox Enterprises and managing partner of Socium Ventures. "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."

In a significant addition to its team, Socium Ventures welcomes David Yang as a partner. He is the first dedicated senior hire for the firm. Yang joins Socium Ventures after spending 15 years investing in growth technology companies across investment stages, including venture, growth and public companies. His past investments have included Chime, Deuna, Digital Ocean, JOKR, Papaya Pay and PinDuoDuo. He started his investing career at Warburg Pincus and TA Associates.

"I've spent my career supporting founders and leadership teams who are building foundational companies," said Yang. "I'm incredibly excited to join Socium Ventures and execute against our mandate of partnering with durable and compounding companies that are leading the charge on innovation and growth."

For more information about Socium Ventures and its latest investments, please visit sociumventures.com.

About Cox Enterprises
Cox Enterprises is dedicated to empowering people to build a better future for the next generation. Cox is a leader in the broadband, automotive, and media industries, as well as a leading investment platform with strategic positions in emerging technologies driving the future of agriculture, renewable energy, health care, and public sector software. Headquartered in Atlanta, Georgia, Cox is a global company with $23 billion in annual revenues and a proud history spanning more than 125 years. To learn more about Cox and its commitment to its people, planet and communities, visit coxenterprises.com. 

About Socium Ventures
Socium Ventures, a venture and growth investment fund launched by Cox Enterprises, represents a new era in full life cycle investment strategies. Socium Ventures is dedicated to supporting portfolio companies at every stage of development and building strong partnerships with founders. Seeking investment opportunities for Series A and beyond, Socium Ventures offers a unique proposition, providing companies with access to deep and permanent capital, extensive strategic and operating experience, and support across stages and over the long term. Learn more at SociumVentures.com.

SOURCE Cox Enterprises