VentureSouth, the Greenville-based network of angel investor groups, has added a new affiliate in North Carolina’s Triad region.
The addition of VentureSouth Piedmont, whose territory includes Greensboro, Winston-Salem and High Point, brings to 13 the number of angel investor groups in both Carolinas that fall under the VentureSouth umbrella.
The new Triad group is led by Malay Shah and Matt Bailey, both of whom have master’s degrees in business administration from Duke University, according to the VentureSouth website.
Shah, who’s based in Winston-Salem, has experience in corporate finance, as well as investing in startups and real estate.
Bailey, based in Greensboro, is a former management consultant for the Boston Consulting Group and previously acquired and operated distressed manufacturers for a private investor. He is also on the board of FarmShots, a VentureSouth portfolio company.
VentureSouth said in a news release that it had invested $2.6 million in 13 companies across the Southeast this year — 30 percent more than in the same period last year.
The group emerged out of a Greenville-based angel investor group, the Upstate Carolina Angel Network, and is managed from offices in the Next Innovation Center in downtown Greenville.
Other angel investor groups in the network are located in Spartanburg, Anderson, Clemson, Columbia, Charlotte, Charleston, Rock Hill, Myrtle Beach, Asheville, Hilton Head, and Aiken.
“VentureSouth continues to grow as more communities and more members see the value of a professionally managed angel investment platform that combines the collective brainpower of over 250 business and community leaders, the unrivalled experience of a dedicated team, and a proven model for making high-quality, early-stage investments,” said Paul Clark, one of four VentureSouth managing directors.
Angel investors are affluent individuals willing to invest in startup companies.