VentureSouth, one of the largest angel investment groups in the United States, announced its investment activity for the first half of 2020.
Despite health and economic challenges brought on by the COVID pandemic, VentureSouth invested nearly $4 million in 17 early-stage companies through the first six months of the year – matching last year’s record for companies funded in a six-month period. Nearly two-thirds of the capital was deployed after the onset of pandemic quarantines in March.
In addition to a couple new investments, VentureSouth provided strong support to existing portfolio companies as they faced uncertainty from the crisis—and embraced new opportunities for growth. Some of the companies receiving funds included Charleston-based Sentio; GoPiv
VentureSouth Managing Director Charlie Banks, commented, “2020 has been a tough year as companies, regardless of size, have struggled to mitigate the painful effects of illness, shutdowns, operational disruptions, and a significant decrease in available risk capital. However, we are proud that VentureSouth and our members have remained active, supporting our companies with further capital and making new investments in companies poised to address some of these health and economic challenges.”
Banks further stated, “Many of the most well-known companies throughout the country were started as a response to, and during, difficult economic times. We firmly believe our region’s entrepreneurs will do the same, and VentureSouth is poised to bring those opportunities together with local investors who want to “make money, have fun and do good.”
VentureSouth is one of the largest early-stage investment groups in the Southeast, with more than 300 private investors in 13 local chapters across the Carolinas. The firm has invested nearly $50 million in over 70 companies. To learn more about VentureSouth, visit www.venturesouth.vc.