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VentureSouth On Pace for Record Year in 2018

Charlie Banks
Charlie Banks
Last updated: June 5, 2024
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VentureSouth, one of the nation’s largest angel investment firms, is on a record-breaking pace for investments and returns in 2018.

In September, the group announced its third exit of the year when OBMedical, a wireless fetal monitoring device company was purchased by Philips.  Combined with the sale of FarmShots to Syngenta in February and another undisclosed transaction this spring, VentureSouth has returned over $6 million to investors this year, generating total returns in excess of 3.5x. 

In addition to the returns, the group has invested over $5.2 million into 15 companies this year, which surpasses the total of $4.5 million invested for all of 2017.

New companies recently receiving initial investments included Threatswitch, a Charlotte-based security and compliance software platform for heavily-regulated companies; Spiffy, the Triangle-based on-demand car care, technology, and services company; Emergo Therapeutics, a biopharmaceutical start-up based in Durham; and Ecomdash, a Charlotte-based ecommerce inventory management platform.

In addition, several existing VentureSouth portfolio companies have recently received follow-on funding from the group, including Proterra, Greenville’s electric bus manufacturer; Atlas Organics, a Spartanburg organic food collection and composting business; and Physcient, a medical device company in Durham.

VentureSouth Managing Director, Charlie Banks, commented, “This year has been a very busy and rewarding one for VentureSouth. We were pleased to return significant capital gains to our investors while deploying more capital than all of last year.  Our investor base continues to grow, and we are excited and determined to continue building upon our successes.”