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Greenville Business Magazine

BIP Capital Plants Roots In Upstate S.C. Following Large Investment In ChartSpan

Jun 10, 2019 09:40AM
Atlanta-based BIP Capital has announced they are planting roots in Greenville, South Carolina after closing their first venture capital investment in the Upstate. The venture firm will be establishing an office at NEXT on Main, located at the Bank of America building in downtown Greenville. BIP Capital will leverage their presence in the Upstate to make further investments in Upstate entrepreneurs.  

John Moore, CEO of NEXT, is excited about the impact the investment firm will bring to the local entrepreneurial ecosystem. “BIP Capital establishing an office in Greenville is a huge ecosystem builder. 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.”

The firm made their decision to plant themselves in Greenville after announcing a large venture capital investment in ChartSpan, a healthcare technology company located in Greenville. BIP Capital is leading a syndicate of five investment firms who are investing $15 million in ChartSpan. 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,” said BIP Capital CEO Mark Buffington. “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,” said Jon-Michial Carter, CEO of ChartSpan and NEXT board member. “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.”