The firm’s leadership decided to open in Greenville after a venture capital investment in ChartSpan, a local health care technology company. BIP Capital said in a news release that the firm will leverage its presence in Greenville to make more investments in Upstate entrepreneurs.
John Moore, CEO of Next, said the firm will be good for the local entrepreneurial environment.
“BIP Capital establishing an office in Greenville is a huge ecosystem builder,” he said in a news release. “Now, startups who evolve past seed capital and need growth capital will have access locally to multi-million dollar venture capital opportunities. The infrastructure of a startup ecosystem is important, and we plan to fuel that by helping curate and build connections.”
BIP Capital is leading a syndicate of five investment firms that are investing $15 million in ChartSpan, the news release said. Joining BIP Capital in the ChartSpan investment round are Blue Heron Capital of Richmond, Va., Bailey Southwell & Co. of Nashville, C&B Capital of Atlanta, and Service Provider Capital of Atlanta.
“ChartSpan represents what we hope will be many more investments in the Upstate area as well as the beginning of strong relationships with angel investors, entrepreneurs and operations in the startup ecosystem,” BIP Capital CEO Mark Buffington said in the news release. “We have been impressed with the quality of entrepreneurial-driven companies in the Upstate. With a focus on healthcare, software and B2B companies, we believe our partnership with Next will deliver significant deal flow.”
“The BIP Capital announcement represents two big wins for the Upstate,” Jon-Michial Carter, CEO of ChartSpan and a Next board member, said in the release. “Our new $15 million in venture capital, led by BIP Capital, means we’ll continue to grow our presence in Greenville and add hundreds of more jobs. Additionally, BIP Capital’s commitment to the Upstate means many more entrepreneurs will have the chance to raise significant capital without having to do so in Silicon Valley or New York.”
ChartSpan is the largest managed service provider of chronic care management programs in the country, according to the news release.