Socium Ventures is a new venture fund created to partner with companies that can define the next generation.
ATLANTA, June 21, 2023 /PRNewswire/ — Cox Enterprises announced the launch of Socium Ventures, a new fund within the company focused on making venture investments in emerging growth businesses. Socium Ventures will strive to support every stage of its portfolio companies’ development, while building lasting relationships with founders and partners. The fund is actively seeking future investment opportunities in the range of $3–$25 million for Series A and beyond.
“Socium Ventures is a new chapter in the way Cox approaches our investment strategy, but it’s built on the same principles that guide all our businesses,” said Dallas Clement, president and chief financial officer, Cox Enterprises. “Our goal is to create mutually beneficial partnerships that help these companies scale to their full potential. It’s a strategy that has worked for us in the past and we’re excited to begin building relationships with new companies and see what the future holds.”
Socium Ventures provides invested companies with a unique opportunity to leverage Cox’s infrastructure, including:
- Permanent capital from a single limited partner with a long-term time horizon and no specific liquidity timeline.
- Direct access to leaders who have strategic, operational and technical experience building markets from the ground up or scaling markets that are ripe for innovation.
- An investment team with vast experience in public and private investing, including guiding notable companies to public exits from start to finish.
“We’re excited to launch Socium Ventures, Cox’s latest investment into the future,” said Cox Enterprises Chairman and CEO Alex Taylor. “We’ll be looking for early-stage businesses that are solving big problems and leaving the world in a better place for the next generation.”
Cox is celebrating its 125th year in business and has a long history of honoring partnerships with trust, collaboration and confidence. This combination has contributed to a high level of success and the growth and development of many innovative companies.
“One of the reasons Cox has thrived through generations is our consistent and intentional approach to thinking about the future,” said Andrew Davis, senior vice president of strategy and investments, Cox Enterprises, and managing partner of Socium Ventures. “Socium Ventures is a way for us to invest in new businesses beyond our current operations that have aspirations aligned with our own. There are many companies with compelling ideas worth exploring, and Socium Ventures will be one of the ways we help scale these innovations to more people and industries.”
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, while strategically investing in emerging technologies driving the future of cleantech, health care, and public sector services. Its major operating subsidiaries are Cox Communications and Cox Automotive, which includes brands like Autotrader and Kelley Blue Book. Headquartered in Atlanta, Georgia, Cox is a global company with $22 billion in annual revenues and a proud 125-year history. To learn more about Cox and its commitment to its people, planet and communities, visit coxenterprises.com.
SOURCE Cox Enterprises
