Intersouth Partners, an early stage venture fund, has finalized a deal to move its offices downtown to the American Tobacco Historic District.
The firm, based in Durham since its inception in 1985, will occupy space in the Crowe Building of the American Tobacco Campus, currently under renovation. Built in 1954, the Crowe Building originally housed tobacco bulks, a stock room and a dust room for the now-defunct cigarette company.
“This is an exciting step for Intersouth and for Durham,” said Dennis Dougherty, a founding partner of Intersouth. “It reflects the growth of our firm and the continuing revitalization of downtown Durham. As a venture capital firm, our top priority is to nurture the entrepreneurial spirit, and this project is certainly an extension of that philosophy. It reminds us that big plans, although they often include big risks, can lead to huge successes in our community.”
Intersouth, which will double its square footage with the move, expects to occupy the new space later this year.
Other companies committed to the American Campus space under development include GSK, McKinney & Silver, Duke University and Compuware.