VentureSouth is pleased to announce record-setting results for a fourth consecutive year in 2017. The South Carolina based angel investment firm invested $4.5 million in 20 Southeastern startups and closed its second co-investment fund with more than $3 million in committed capital.
2017 also brought more growth to VentureSouth’s rapidly expanding network of angel groups with the launch of VentureSouth Piedmont in Winston-Salem & Greensboro, NC. Collectively, VentureSouth now includes more than 250 individual angel investors, making it one of the largest angel groups in the country.
VentureSouth Managing Director Paul Clark reflected on the year saying, “2017 was another pivotal, record breaking year for VentureSouth as we continued to expand our investor base across the Southeast. We are thrilled to add new companies to the portfolio and are excited about the progress many of our portfolio companies made over the last year. They are addressing significant problems across a myriad of industries and gaining national recognition for their innovative solutions.”
Continuing the momentum of 2017, 2018 kicked off with an acquisition of one of VentureSouth’s portfolio companies. FarmShots, based in Durham, NC, was recently acquired by Syngenta in a transaction that met VentureSouth’s return rate target in just 16 months. FarmShots provides a software platform that aids farmers and agronomists by combining satellite imagery analysis with proprietary algorithms to assess the health of crops and soils. Syngenta plans to integrate the FarmShots software into their farm management system to be used by farmers worldwide.
Josh Miller, Founder and CEO of FarmShots, stated “Working with VentureSouth was an incredible experience as an entrepreneur on a number of fronts. Not only was the process professional and well organized, the feedback we received was constructive and helped propel the business forward. On top of that, the board members they provided were absolutely incredible assets. We could not have achieved the exit we did without their hardwork, expertise, and all around hustle. Not only do I plan to raise money again from VentureSouth on my next venture, I’d hope to one day become part of the incredible community they’ve created for investors.”