GREENVILLE, S.C., July 17,
2024 /PRNewswire/ -- VentureSouth, one of the top 10
angel groups in North America, is
excited to announce investments totaling $5.5 million into 24 early-stage companies in the
first half of 2024. In addition to the investment activity, despite
quieter M&A markets, VentureSouth also distributed nearly
$2 million in returns to investors
from prior investments.
Like many early-stage investors, investing activity this year
has focused on existing portfolio companies, with investments into
20 existing companies. Four new companies, which received
approximately $1 million of
investment, also joined the VentureSouth portfolio.
Existing portfolio companies receiving investment included
KIYATEC and 6AM City in Greenville (which announced a major round of
funding led by Tegna in February), and Trio Labs and Redbud Labs in
Raleigh.
VentureSouth Managing Director Paul
Clark commented, "While signs are pointing to its
improvement, 2024 has been a challenging year for companies raising
capital in our region. Thus, we are proud to have devoted support
and funding to our portfolio companies to help them continue to
thrive. We look forward to continuing this support for the rest of
2024."
New companies joining the portfolio were: Phinite, which turns
animal farms into renewable fertilizer mines, in eastern
North Carolina; MPath Health in
Winston-Salem, NC, which uses
automation to improve the performance of healthcare systems;
UrbanSDK in Jacksonville, FL, a
traffic management software company helping state and local
governments better understand their traffic flows; and Seafarer
Exploration, an underwater archaeology technology company in
Tampa, FL.
Clark further added, "VentureSouth has invested in an
interesting variety of compelling new technologies and businesses
this year. From studying traffic to finding buried treasure, our
investors have the opportunity to invest in fascinating
technologies and talented entrepreneurs while supporting the
entrepreneurial ecosystems across the southeast."
VentureSouth also completed several new strategic activities
this year. It launched new groups in Savannah, GA, and along the "Space Coast" in
Melbourne, FL, conducted
educational workshops across the southeast, and helped curate and
launch the Upstate Upstarts list of early stage technology
companies in the Upstate region of South
Carolina. The group also enjoyed record attendance of over
250 investors at its annual VentureSouth Summit, held earlier this
year in Greenville, SC.
Media Contact: Paul
Clark, paul@venturesouth.vc
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SOURCE VentureSouth