More than a decade ago, a group of investors formed a small angel network in upstate South Carolina. The seeds of that organization laid the groundwork for VentureSouth, a coalition of 21 angel networks and startup organizations across the Southeast. Richmond nonprofit incubator and startup hub StartUp Virginia became part of the network almost two years ago, and through the network, investors have placed capital into such Richmond startups as Babylon Farms, HopDrive and RoundlyX.
Richmond Inno recently talked with VentureSouth Managing Director Charlie Banks about the organization’s history, moving into Richmond and the fundraising environment for startups.
How did VentureSouth expand into what it is today? When you fast forward a couple of years [after its formation], the group had made a couple of investments, but they realized that they couldn’t write a check size that was big enough to make a long-term impact with a company. They started to syndicate and bring in other firms…
Read the full story from the Washington Business Journal.
