Overline Closes First Seed-Stage Fund, at $27M

Overline, an Atlanta, GA-based seed-stage venture capital firm, closed its first fund, at $27.4m.

Anchored by marketing platform, Mailchimp, Overline’s additional partners include Cox Enterprises, Social Leverage, Hallett Capital, Atlanta Tech Village founder David Cummings, and Techstars co-founder David Cohen.

Established by Managing Partners Michael Cohn and Sean O’Brien, Overline is a Founder/Operator-led firm focused on seed venture deals in the Southeast U.S. the firm aims to be the first institutional investor in high-potential, established founding teams building differentiated companies in large markets.

Overline Seed Fund I, LP, is a generalist fund that leads investments with capital commitments of $250k to $1.5m. The firm has invested in 11 companies to date, in industries ranging from FinTech to Space to Logistics and Transportation.

The portfolio includes Padsplit, an Atlanta-based flexible housing marketplace that raised a $10m Series A round in 2020, and Relay Payments, a logistics fintech company that has raised over $40m from top-tier investors.

Cohn and O’Brien utilize their experience as longtime Atlanta-based entrepreneurs, angel investors, and operators leading companies through massive growth stages.

Cohn co-founded Cloud Sherpas, serving as the company’s initial CEO and in other senior leadership roles through its 2015 acquisition for over $400 million by Accenture. He then spent three years as the founding Managing Director of the Techstars Atlanta accelerator program.

O’Brien served as President, Strategic Initiatives and Chief Strategy Officer of PGi, helping to grow the public technology company to almost $600 million in revenue through over 30 acquisitions, before helping sell the business to private equity in 2015 for $1.1 billion. Prior to PGi, O’Brien spent time as a hedge fund manager and equity analyst.

FinSMEs

01/04/2021