As the curtain was about ready to come down on the final day of the “DIG SOUTH Tech Summit” on Friday in Charleston, SC, Good Growth Capital, which has a significant presence in both Charleston and Boston, made a major announcement.
The majority women-managed firm has closed its oversubscribed third fund at $102 million, making it the largest in Palmetto State history and now one of the largest early stage funds in the Southeast.
According to this article in the Charleston Regional Business Journal, Good Growth’s managing partners are 60 percent female and 20 percent Latino, and the firm reports more than 75 percent of its portfolio is led by founders from diverse backgrounds. The company has four Managing Partners in Charleston and one in Boston. It also has a London office and a network of venture partners and advisers in several U.S. locations.
Separately, the Charleston Post and Courier quoted Amy Salzhauer, Co-Founder and Managing Partner, as saying the new money will target “complex” and innovative science-based companies that “meet a pressing societal need” in areas such as the biomedical field and the environment.
The firm, which was founded in 2015, lists 37 portfolio companies on its website. Ten of those are based in either North or South Carolina. No investments are listed in Tennessee-based start-ups.