The South Carolina Angel Network (SCAN), one of the largest angel investment organizations in the United States with more than 200 investors, this week announced the launch of VentureSouth, a new corporate identity for its expanding activities in the Southeast.
The new brand signals several advances in the organization’s development including better integration across its various angel groups, the addition of a new partner to the management team, and an expanded vision to be a leading provider of early-stage capital and expertise in the Southeast.
VentureSouth currently manages angel investment groups and funds across South Carolina and western North Carolina, including Greenville, Columbia, Asheville, Spartanburg, Anderson, Aiken, Rock Hill, Myrtle Beach, and Charleston, with additional groups in development within the region. The groups have collectively invested over $17 million in 50 early stage companies since the creation of the Upstate Carolina Angel Network (UCAN) in Greenville in 2008. In 2014, CB Insights, a leading data provider for the venture capital industry, ranked UCAN a Top 10 angel network in the US.
The driving force behind VentureSouth’s expansion is to develop a more robust market for early stage capital in its home region where such capital has historically been notoriously scarce. The group invites accredited investors to participate in its rigorous vetting and diligence processes that seek to identify the most promising ventures in the region. In addition to providing those ventures with much needed capital, VentureSouth investors provide additional value by leveraging their expertise to help companies grow, overcome challenges, and ultimately achieve the successful outcomes necessary to reward investors and entrepreneurs for the calculated risks they are taking.
Co-Founder and Managing Director Matt Dunbar noted “The creation of VentureSouth builds on our track record of bringing smart investors together with talented entrepreneurs to make successful early stage investments in the Southeast. By building the infrastructure to draw in more capital and more bright minds to participate in this market, we aim to accelerate our impact in the region by generating investor returns, entrepreneurial experience, and ultimately jobs and wealth in our communities.”
Along with rebranding, VentureSouth announces the addition of Mac Lackey as a Managing Director, joining Dunbar, Charlie Banks and Paul Clark who co-founded SCAN in 2014. Mac is a startup veteran who has been in the entrepreneurial trenches for over 20 years. Having built and sold five companies (all based in the Southeast), Mac has unique insights into what it takes to be successful, which will be invaluable to VentureSouth portfolio companies.
“Mac epitomizes a serial entrepreneur with a long and very successful track record of starting, building, and exiting companies,” Banks said. “He has a rare set of experiences as a startup entrepreneur, investor, and advisor that will be catalytic for VentureSouth. We are thrilled to have him on our team.”
Mac added, “I have been an entrepreneur based in the Southeast for over 20 years. I know the challenges as well as the opportunities, and I am incredibly excited to leverage what I have learned about building and selling companies with this group of investors and their entrepreneurs. VentureSouth will make a significant impact here in the Southeast.”
To learn more about the firm or how to become involved as an angel investor or as an entrepreneur, visit www.venturesouth.vc.