About This Fund
Cofounders Capital Fund III is a $50 million seed-stage venture capital fund managed by Cofounders Capital, a Cary, North Carolina-based VC firm dedicated to investing in early-stage B2B software companies across the southeastern United States. The fund reached its final close in March 2023, making it the firm's largest raise to date and following Fund I ($12 million) and Fund II ($31 million) in a pattern of consistent fund-on-fund growth. The fund was raised under the leadership of Managing Partner Tim McLoughlin, Founding Partner David Gardner, and Partner Tobi Walter, and targets investments in 15 to 20 seed-stage companies with a continued emphasis on North Carolina's fast-growing technology ecosystem and the broader Southeast.
Cofounders Capital Fund III invests in B2B software companies providing solutions with measurable return on investment for enterprise customers, with an increasing focus on artificial intelligence applications within the B2B sector. The firm's investment model goes beyond capital provision, offering founders deep entrepreneurial mentorship, operational guidance, and hands-on co-building support that draws on the partners' own experiences as founders and operators. Typical investments range from $300,000 to $1 million in seed-stage companies at the earliest formation stages, with active reserve capital for follow-on participation in subsequent rounds. The fund's Southeast-first geographic strategy capitalizes on Cofounders Capital's status as the most active early-stage VC in North Carolina and its established relationships with the region's corporate innovation ecosystem.
Cofounders Capital has been recognized consistently as the Most Active Investor in North Carolina and manages approximately $95 million in assets under management across its three funds. Across the fund family, the firm has deployed capital into more than 40 portfolio companies, secured over $250 million in follow-on funding for its portfolio, and recorded 10 exits. Notable Fund III portfolio companies include Troupe AI, Titl, and Lineage Technologies, operating across AI-enabled B2B productivity tools, real estate technology, and financial software verticals. The fund has been profiled by PitchBook as a 2022 vintage vehicle with a final close in March 2023.