Overline wraps up sophomore fund

Atlanta-based Overline, a seed-stage venture firm, has closed its second fund.

Atlanta-based Overline, a seed-stage venture firm, has closed its second fund. No financial terms were disclosed. Also, Overline has hired Sara Saxner-Coughlin as head of platform and Michael Davis as venture partner.

PRESS RELEASE

ATLANTA (PRWEB) OCTOBER 19, 2021
Overline, an Atlanta-based seed-stage venture capital firm, today announced the closing of its second fund, Overline Opportunity Fund I, and the addition of Sara Saxner-Coughlin as Head of Platform—a key component of Overline’s investment strategy, differentiation, and commitment to the region’s startup ecosystem. The company also announced the addition of Michael Davis as a Venture Partner.

Established in 2019 by Atlanta-based founder-operators, Michael Cohn and Sean O’Brien, Overline was built to support founders in the Southeast region of the United States. The firm closed its first fund, Overline Seed Fund I, in March 2020, with the goal of eliminating the seed stage institutional funding gap that previously existed in the region. Its new fund expands Overline’s investment mandate to also include later rounds of financing. With commitments of over $13 million from existing partners, the Opportunity Fund targets $1 million investments in breakout companies, both in the Overline portfolio and across the region.

“We are thrilled to announce the closing of our second fund and the expansion of our team—key milestones in the transition of Overline from a fund to a firm, and part of our vision from the outset,” said Sean O’Brien, Managing Partner of Overline. “While our primary focus continues to be leading first round financings, we now have the flexibility to invest in the later rounds of companies that are well on their way to becoming unicorns.”

Overline’s support of founders building in the region has formalized through the hiring of senior leader, Sara Saxner-Coughlin, who has joined the firm as Head of Platform. Sara has dedicated her career to working with entrepreneurs and communities. In her new role, Sara will create value for Overline portfolio companies, partners, and the regional startup ecosystem by establishing and amplifying the Overline Platform.

“From our very first conversation, Sean and I wanted Overline to stand for more than just a capital source,” said Michael Cohn, Managing Partner of Overline. “As a founder, I benefited from having an engaged and experienced community supporting me—it was a key accelerant to the success of our business at the earliest stages. We are thrilled to welcome Sara to the team to lead the expansion of the Overline Platform, and we see her as a critical part of our success in delivering this same value to founders in our community.”

“There is tremendous talent in the Overline network,” said Saxner-Coughlin. “I am excited to support founders in the portfolio through our Platform focused on connection, community, and content, while at the same time elevating the impact Overline makes on the startup ecosystem throughout the Southeast.”

“Having Overline in our corner has been invaluable,” said Sean Warner, CEO and co-founder of Grubbly Farms. “Michael and Sean are always just a phone call or text message away. And their strong network of Operating Partners, with expertise in go-to-market, finance, supply chain, and talent continues to directly impact our growth. We’re thrilled to see them make an investment in further developing the Overline Platform and know that it will drive value for the portfolio and the ecosystem at large.”

Overline further expanded its team by naming its first Venture Partner, Michael Davis. Davis is Head of Strategic & Operational Services at Ally.io, where he works across the company’s various functional areas to help launch new offerings. Prior to joining Ally.io, Davis was with Deloitte, where he worked closely with the CEO and led corporate strategy and business design projects at Monitor Deloitte. Davis has provided strategic support and tactical know-how to founders in the Overline portfolio as an Overline Operating Partner. In his expanded role as a Venture Partner, Davis will also assist in sourcing new investment opportunities and supporting the firm’s strategic planning and growth initiatives.

About Overline
Overline is a founder/operator-led seed-stage venture capital firm, based in Atlanta, that invests in exceptional founders building in the Southeast. The firm is industry-agnostic and leads pre-seed and seed rounds with investments ranging from $250,000 to $1.5 million. Overline takes a highly engaged, platform-centered approach to supporting its founding teams, providing insights into key areas like product, technology, finance, go-to-market, and talent that help create an unfair advantage for its portfolio companies.