VentureSouth surpasses $100 million invested in startups across the Southeast

In 2008, a group of business leaders in Greenville, SC founded the Upstate Carolina Angel Network (UCAN) with a simple vision: give promising entrepreneurs across the Southeast access to the early-stage capital and experienced investors they needed to build great companies. Matt Dunbar was hired to lead that effort.

Several years later, Charlie Banks and Paul Clark joined Dunbar to expand the network beyond the Upstate, transforming UCAN into VentureSouth, a regional early-stage investment network serving entrepreneurs and accredited investors across the Southeast. That vision has now reached a major milestone: this summer, VentureSouth surpassed $100 million in total investments across 135 startups throughout the region that have created significant new technologies, hundreds of jobs, and significant investor returns.

Now with more than 500 accredited investors across the Carolinas and nearby states, VentureSouth is consistently recognized as one of the nation’s leading angel investment organizations. In the 2026 Angel Funders Report released in July by the Angel Capital Association, the group once again earned Top 10 status among the most active angel groups in North America, a reflection of its sustained commitment to entrepreneurs and innovation.

While the investment milestone and Top 10 ranking are significant for an angel investing group, VentureSouth’s founders measure impact not just by the dollars invested and returns achieved, but also by the companies built, the entrepreneurs backed, and the innovation ecosystem strengthened throughout the Southeast.

“One hundred million dollars invested is a notable milestone worth celebrating, but what matters more is what that capital represents,” said Matt Dunbar, Managing Director of VentureSouth. “Behind every one of those dollars is an investor willing to make a risky bet on an unproven venture led by a visionary entrepreneur working against long odds to solve hard problems and create new value in the world. That is a remarkable and noble quest that forms the underlying engine of the American economy, and we are proud to play a small part in that process. We are incredibly grateful to all the investors, founders, partners, and employees who have contributed to that work, and we look forward to seeing the continued impact these companies will have in the region and beyond.”

Over the past 18 years, VentureSouth has invested across software, healthcare, life sciences, advanced manufacturing, financial technology, consumer products, artificial intelligence, and other high-growth sectors. Portfolio companies have raised more than $1.5 billion in follow-on capital, created more than 1,000 jobs, and generated significant investor returns across more than 30 successful exits – proof of the long-term impact organized angel investing can have on entrepreneurs, communities, and regional economies.

For many founders, VentureSouth has become much more than a source of capital.

“VentureSouth believed in me when FarmShots was little more than an idea,” said Josh Miller, founder of FarmShots and founder & CEO of Gradient Health. “That early support gave us far more than funding. It connected us with experienced entrepreneurs and investors who challenged our thinking, opened doors, and helped us build a successful company. Years later, as we’re building Gradient Health, those relationships still matter. That’s what makes VentureSouth unique- it invests in founders, not just companies.”

That collaborative approach- disciplined investment processes paired with active mentorship from experienced entrepreneurs, executives, and investors—is central to VentureSouth’s model.

“Great companies rarely succeed on capital alone,” said Paul Clark, Managing Director of VentureSouth. “The best outcomes happen when experienced investors roll up their sleeves and help founders navigate the challenges of building a business. That’s always been at the heart of VentureSouth. We’ve built a community where successful entrepreneurs and executives share their experience alongside their capital, and that combination has created tremendous value for both founders and investors.”

By the Numbers

• $100+ million invested
• 135 portfolio companies
• 350+ investment rounds
• 500+ accredited investors
• 33 successful company exits, and counting
• $1.5 billion in follow-on capital raised by portfolio companies
• Over 1,000 jobs created
• Top 10 Angel Capital Association ranking over the last decade

Looking ahead, VentureSouth sees even greater opportunity as the Southeast continues to emerge as one of the country’s fastest-growing innovation hubs.

“Crossing the $100 million mark isn’t the finish line – it’s the beginning of our next chapter,” said Charlie Banks, Managing Director of VentureSouth. “The Southeast is producing exceptional entrepreneurs at a pace we’ve never seen before, and the quality of companies being built here continues to rise. Our mission is to ensure founders don’t have to leave this region to access world-class capital, mentorship, and investor networks. If the first $100 million established VentureSouth as a leader in angel investing, our focus now is on helping build the next generation of iconic companies that call the Southeast home.”

About VentureSouth

VentureSouth is one of North America’s largest and most active angel investment organizations, providing capital, expertise, and strategic guidance to early-stage companies across the Southeast through a network of more than 500 accredited investors. Since inception, VentureSouth has invested more than $100 million in 135 companies. In 2025, VentureSouth joined forces with Vicinity Capital to form Vicinity Ventures, expanding its platform to offer investors access to a broader range of public and private investment opportunities, including real estate, local small businesses, and sports teams.  Learn more at venturesouth.vc.