Greenville-based VentureSouth invested in 30 early-stage companies in 2023
Greenville – VentureSouth, an early-stage investment organization based in Greenville, announced Feb. 16 it invested in 30 early-stage companies throughout the Southeast in 2023. The organization used almost half of its funding to support existing portfolio companies by helping them navigate a difficult funding environment, while the remaining money was invested in 11 portfolio additions.
Portfolio Additions
- Base HQ of Greenville – a software platform that provides a full-stack solution for executive assistants.
- CADchat of Columbia – a secure communications tool enabling designers to work with 3D files more efficiently.
- Yuva Biosciences of Birmingham, Alabama – a company that leverages AI and mitochondrial science to develop anti-aging products.
- Tendonova of Atlanta, Georgia – a micro-invasive medical device for treating tendinopathy.
- Modern Ritual of Chapel Hill, North Carolina – a teledermatological platform giving care providers the ability to image, assess and triage various skin conditions more effectively.
VentureSouth 2023 Highlights
- Seeing an 18% membership increase and closing out the year with more than 550 members.
- Being recognized as one of the Top 10 Angel Groups in North America by the Angel Capital Association.
- Witnessing investment returns from four portfolio companies.
- Launching a new VentureSouth group in Jacksonville, Florida.
- Establishing a strategic partnership with 757 Angels in Norfolk, Virginia.
VentureSouth will also celebrate its 10th anniversary at the 2024 VentureSouth Summit, an annual gathering of its members from across the region, the week of Feb. 23 in Greenville.
“This is a significant milestone considering the economic roller coaster we’ve experienced since the beginning of UCAN in 2008,” said Tim Reed, a longtime VentureSouth member and one of the founders of Upstate Carolina Angel Network. “Charlie Banks, Matt Dunbar and Paul Clark took this concept and grew it exponentially over the last 10 years, and I’m excited to watch them continue the growth. On behalf of all VentureSouth members, hats off to them.”
Since its inception, VentureSouth has grown to over 550 members across the Southeast, invested over $80 million in over 100 companies, generated investment returns for investors and helped its portfolio companies raise $1 billion in follow-on capital and create more than 1,500 jobs.
Sources: HERE News Network