VentureSouth invests more than $4 million in Southeast startups for 2016

VentureSouth invested more than $4 million in startups in the Southeast last year, setting a new record for the early stage investment firm.

VentureSouth has more than 200 individual angel investors.   Contributed image

VentureSouth invested more than $4 million in startups in the Southeast last year, setting a new record for the early stage investment firm.

VentureSouth started in 2008 by launching the Upstate Carolina Angel Network in Greenville. It now includes 11 angel groups across the Southeast. Last year, three new angel investment groups were added: Salt Marsh Angels in Hilton Head, Grand Strand Angels in Myrtle Beach and VentureSouth Charlotte.

Collectively, VentureSouth has more than 200 individual angel investors and is one of the largest such groups in the country.

"We are grateful for the impressive depth of expertise we can tap into across our investor network, and we are excited about our increasing capacity to fund promising early stage companies in the Southeast," Matt Dunbar, a managing director for VentureSouth, said.

At the end of last year, the group invested in KWIPPED, an online B2B equipment rental marketplace in Wilmington, North Carolina. It also invested several other startups in various fields and invested more funds to help eight of its portfolio companies boost growth.

"We are very excited about these new investments, as well as the progress of many of our portfolio companies over the last year,"  Charlie Banks, another managing director of VentureSouth, said. "They are addressing significant problems across many industries and gaining national recognition for their innovative solutions. We look forward to even stronger progress in 2017."

To learn more about VentureSouth and its investments, visit www.venturesouth.vc.

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