Gray Ventures

Gray Ventures is a private investment company founded in 1991 by Bernard "Berny" Gray to support entrepreneurialism in the Southeast. The firm is headquartered in Atlanta, Georgia, now led by Principals Bernard and Alex Gray, with a geographic focus on Atlanta and North Carolina's Research Triangle Park. Its current vehicle, Gray Ventures IV (launched 2022), invests exclusively in the southeastern United States, focusing on seasoned entrepreneurs building B2B SaaS solutions for IT, telecom, and tech-enabled industries; earlier funds (I–III) also backed healthcare and broader information technology companies, including a fund-of-funds structure supporting 25 regional venture funds and the Georgia Tech-affiliated Flashpoint accelerator. The firm has made 131 investments with 59 exits to date, including unicorns Pendo.io and Greenlight, alongside Shipt, BitPay, SmartAsset, Red Canary, Pindrop, MacStadium, ShopKeep, Featurespace, and Ionic Security. Current portfolio companies include Intellectible, Illoominus, NuTEQ Solutions, QuantHub, Worth AI, Fastbreak AI, and Vitelis. Gray Ventures has historically invested between $0.5 million and $3 million per company, preferring a minority stake, board seat, and lead or co-lead position alongside other professional investors. Its approach emphasizes hands-on, long-term partnership — founders cite the firm's support extending well beyond capital, into networking, hiring, and strategic guidance.