Broadband, automotive, and media conglomerate Cox Enterprises launched its corporate venture capital arm Socium Ventures

 

Broadband, automotive, and media conglomerate Cox Enterprises launched its corporate venture capital arm Socium Ventures.  The firm did not disclose the overall size of the fund. However, it did confirm that it will invest in Series A and beyond startups, with individual ticket sizes ranging from $3M to $25M.  Cox's president and CFO, Dallas Clement, said, "Socium Ventures is a new chapter in the way Cox approaches our investment strategy, but it's built on the same principles that guide all our businesses. Our goal is to create mutually beneficial partnerships that help these companies scale to their full potential." Cox rakes in more than $20B in annual revenues through all its divisions.  The firm has previously invested in EV automaker Rivian and owns a 4% stake.  Since the firm has only a single limited partner, the firm can invest over a long time horizon without worrying too much about liquidation options.