Greenville-based angel investment firm VentureSouth announced this week it invested $12.7 million in Southeastern startups in 2019.
The amount represented an 82% increase in capital deployed from the previous year, according to a news release.
“2019 was a banner year for VentureSouth,” Paul Clark, VentureSouth’s managing director said in a release. “Over the last three years, we have experienced substantial growth in our investment activity, which has grown from $4.5 million in 2017, to $7 million in 2018 and now to a record $12.7 million in 2019.”
In addition, the firm added a record-breaking 10 companies to its investment portfolio last year-Aperiomics and Outdoor Access in Virginia; HelloPackage in Georgia; MemberHub and Altis Biosystems in North Carolina and Punchlist, OffSite, Treis Blockchain, and ZylöTherapeutics in South Carolina.
VentureSouth also made 18 follow-up investments to its existing portfolio companies and participated in the latest round of funding for Proterra in Greenville. The manufacturer of zero-emission buses is the first “unicorn” in VentureSouth’s portfolio.
Founded in 2008, VentureSouth manages angel investment groups and funds across the region and recently expanded its footprint with affiliates in Hilton Head and Wilmington, North Carolina, according to the release.
VentureSouth’s members collectively have made more than 700 individual investments, the release said. The firm was named one of the top 10 angel investment groups in North America by the Angel Capital Association.