RALEIGH – VentureSouth, headquartered in Greenville, South Carolina, is ramping up its operations in the Triangle with its latest appointment.
Brett Danforth, an executive with Oak City Consulting and the former managing director of the Wolfpack Investor Network (WIN), has been named director of VentureSouth Triangle, it was confirmed this week.
The angel investment group has had a presence in the region for a number of years, but formally launched the chapter earlier this year due to “continued interest” to expand. The group does not have a physical office, but local directors are generally available to meet with potential investors and portfolio companies, a spokesperson told WRAL TechWire.
In total, VentureSouth has 18 chapters scattered around the Southeast.
“I’m excited to help grow VentureSouth’s presence in the Triangle,” Danforth said in a statement.
Despite pandemic, VentureSouth angels invest $9.2M in 26 startups including 14 from NC
Who is Danforth?
Danforth leads client development for Oak City Consulting, an institutional investment consulting firm that serves faith-based endowments and foundations in the areas of asset allocation, investment manager selection and performance reporting.
Prior to joining Oak City this year, he was the managing director of the Wolfpack Investor Network, an angel investment network based at North Carolina State University. Previously, he spent five years in venture banking at Square 1 Bank, now Pacific Western Bank. He is also a graduate of North Carolina State University’s Poole College of Management.
“I’ve been impressed by the group’s curated approach to angel investing that is fun and approachable for new or experienced angel investors because it allows individuals to engage in various ways to fit their interests and availability.”
A map of VentureSouth chapters scattered around the Southeast.
In 2021, VentureSouth invested $10.7 million in 36 early-stage companies last year — including $5 million in 13 companies from North Carolina, a spokesperson for the company confirmed to WRAL TechWire.
VentureSouth said around “40% of its total invested dollars” go to Triangle-based companies, “demonstrating our active involvement in one of the Southeast’s leading entrepreneurial hubs.”
Portfolio companies in the Triangle include Baebies, MemberHub, Nirvana Biosciences, Reveal Mobile, Seal the Seasons, Spiffy, Trio Labs, and UVision360.
“Brett’s unique experience, deep knowledge of the local early stage ecosystem, and his industry-specific aptitude make him the perfect person for this role,” Charlie Banks, VentureSouth’s managing director, said. “We are thrilled to add him to the VentureSouth team.”
VentureSouth has more than 400 members and has invested $70 million in more than 90 Southeastern early-stage companies.
