VentureSouth announced that it has closed its fourth sidecar investment fund, VentureSouth Angel Fund IV, at its target size of $5 million.
In the news release (VentureSouth Final Closing of VentureSouth Angel Fund IV) issued Friday, the Greenville, SC-based firm said that Fund IV has already made investments in 13 portfolio companies including one from Chattanooga – Pass It Down. The other companies span South Carolina (6AM City in Greenville and Punchlist in Charleston) and North Carolina (Live Furnish in Winston-Salem and Coworks in Durham). The fund will likely add five to seven additional portfolio companies in the coming months as VentureSouth continues its pace of investment.
“Despite the inherent risks of an early stage equity portfolio, angel investors have consistently generated attractive returns when they diversify their investments across a highly diligenced set of opportunities,” said Charlie Banks, VentureSouth’s Managing Director. “However, building a portfolio is difficult to achieve alone, as it requires access to deal flow, investment expertise, portfolio monitoring and support – as well as administrative skill. The VentureSouth sidecar funds provide investors with efficient access to each of those capabilities, enhancing the probability of achieving attractive returns alongside one of the top 10 angel groups in North America.”
To learn more about VentureSouth, you can read the teknovation.biz article from this past April that featured Matt Dunbar, another Managing Director.