Greenville-based investment firm VentureSouth set for another record year

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Greenville-based angel investment firm VentureSouth is on pace for another record year.

The firm announced last week that it has invested more than $5.2 million in 15 companies across the Southeast this year, surpassing the total of $4.5 million invested for all of 2017.

“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,” said Charlie Banks, VentureSouth managing director, in a news release. “Our investor base continues to grow, and we are excited and determined to continue building upon our successes.”

Founded in 2008, VentureSouth manages angel investment groups and funds across South Carolina and western North Carolina, including groups in Asheville, Greenville, Columbia, Spartanburg, Anderson, Aiken, Rock Hill, Myrtle Beach, and Charleston.

The firm launched VentureSouth Piedmont in 2017. The affiliate, which operates out of North Carolina’s Triad region, is led by Malay Shah and Matt Bailey, both of whom have master’s degrees in business administration from Duke University.

VentureSouth affiliates have collectively invested more than $28 million in over 60 early-stage companies over the last decade. The firm has returned more than $6 million to investors, generating total returns in excess of 3.5 times the investment, the release said.

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

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