Blue Delta Capital Partners Closes $215 Million Fund

Washington, DC – December 21, 2021 – Cooley advised Blue Delta Capital Partners, a venture capital firm based in Tysons, Virginia, on the closing of its oversubscribed $215 million fund, Blue Delta Capital Fund III. Lawyers Aaron Velli, Katelyn Kimber and Christine Zhao led the Cooley team advising Blue Delta.

The raise comes two years after Blue Delta announced Blue Delta Capital Fund II, which also exceeded its target. Fund III will allow Blue Delta to continue to scale its proven track record of success in the US federal government services sector, providing growth-stage venture capital investments.

“It is a humbling and flattering vote of confidence to have a new, well oversubscribed fund just two years after our last fund,” Mark Frantz, general partner of Blue Delta, said in a news release. “Raising Fund III in a matter of weeks, and with only one closing, enables us to spend more time working with our existing portfolio companies and partnering with new industry-leading federal companies in 2022 and beyond.”

Founded in 2009, Blue Delta was formed to fill a void in the government services marketplace by providing equity capital to entrepreneurs who wanted to grow their businesses without selling control of their companies or taking on too much debt. The venture capital firm makes equity investments in return for non-control ownership positions and – given its team members’ combined decades of experience as venture capitalists and successful CEOs – it can serve as a value-added partner in the businesses that it backs.

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