Blue Delta Capital Partners has secured $250 million for its fourth fund, allowing it to continue making growth stage equity investments in companies in the U.S. federal government services market.
In a statement published Thursday, Blue Delta General Partner Phil Nolan said the venture capital firm and its team of investors could provide mentoring support to the next generation of federal market professionals.
“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,” added Nolan.
“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 Kevin Robbins, a Blue Delta general partner and a previous Wash100 awardee.
The Tysons, Virginia-based venture capital firm raised the oversubscribed Blue Delta Capital Fund IV just over two years after the third fund was launched.
“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,” said Mark Frantz, co-founder and a general partner at Blue Delta and a previous Wash100 Award winner.
Cooley led by partners Aaron Velli and Katelyn Kimber acts as Blue Delta’s fund counsel.
