Investing in early stage companies pays off in many ways. The most tangible is when they are bought by bigger companies. We're delighted to start the year off with "an exit" - with FarmShots acquired by Syngenta.
You can see Syngenta's press release here, and a nice profile of Josh and the FarmShots team in the Triad Business Journal.
VentureSouth members invested in FarmShots in September 2016, attracted by Josh Miller's technological skills and persistence, FarmShots' technology and market opportunity, and the cost saving and efficiency improvements for farmers.
Financial terms have not been disclosed, but we are happy to say that the investment definitely hit our return targets! This investment is a case study on how angel investing should, and does, work.
Though our part on the entrepreneurial journey is over, we wish Josh and Syngenta the best of luck in continuing to develop a great business.