Despite pandemic, VentureSouth invests roughly $4M in 17 startups including 3 in RTPDate Published:
GREENVILLE, S.C.– Despite health and economic challenges brought on by the COVID pandemic, VentureSouth hasn’t stopped investing.
The angel investment group, headquartered in Greenville, South Carolina, invested nearly $4 million in 17 early-stage companies through the first six months of the year. Three companies from the Research Triangle were among them, including MemberHub, Reveal Mobile, and UVision 360.
VentureSouth said the sum invested matched last year’s record for companies funded in a six-month period — with nearly two-thirds of the capital was deployed after the onset of pandemic quarantines in March.
“2020 has been a tough year as companies, regardless of size, have struggled to mitigate the painful effects of illness, shutdowns, operational disruptions, and a significant decrease in available risk capital,” said VentureSouth Managing Director Charlie Banks, in a statement.
“However, we are proud that VentureSouth and our members have remained active, supporting our companies with further capital and making new investments in companies poised to address some of these health and economic challenges.”
He added: “Many of the most well-known companies throughout the country were started as a response to, and during, difficult economic times. We firmly believe our region’s entrepreneurs will do the same, and VentureSouth is poised to bring those opportunities together with local investors who want to ‘make money, have fun and do good.’”
Other companies receiving funds included Charleston-based Sentio and GoPivot Solutions and HelloPackage in Atlanta; and other companies from Jacksonville, FL to Sterling, VA.
VentureSouth is one of the largest early-stage investment groups in the Southeast, with more than 300 private investors in 13 local chapters across the Carolinas. The firm has invested nearly $50 million in over 70 companies.
Original Post By: WRAL TechWire