
Investments
100Portfolio Exits
13Funds
4Partners & Customers
2
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Latest VentureSouth News
Sep 12, 2023
DURHAM – VentureSouth , rapidly emerging as a leading investor in early-stage startups across the Triangle and southeast, has a new director for its Triangle opreations. He is Jonathan Heigel , a Duke University graduate who recently moved to Raleigh. “VentureSouth is thrilled to continue working with Jonathan, now in his role of director of our angel investment group in the Triangle,” said Paul Clark, managing director of VentureSouth. “Jonathan has been a valuable VentureSouth member for several years, as an investor, due diligence team member, and advocate. His service on the board of directors for portfolio companies, most recently for Seal the Seasons in Durham, lets him apply his consulting and entrepreneurial expertise, to early-stage companies in the region. We are thrilled to have him leading our efforts in the Triangle.” Heigel earned an undergraduate degree in economics and an MBA in political science at Duke and has been a member of the VentureSouth group. He’s worked for the U.S. Navy, several consulting firms and has led his own consulting firm. “I’m very excited to be taking on an active role representing VentureSouth in the Triangle,” Heigel said in a statement. “Having recently relocated to Raleigh, it’s incredibly exciting to see how the region has exploded in so many ways since my college days. The vitality and volume of entrepreneurs, venture investors, and the startup ecosystem matches anything I’ve seen elsewhere in the country, and I’m excited to become a part of it.” VentureSouth has more than 500 members and has made more than 100 investments across the southeast, including 25 in the Triangle.
VentureSouth Investments
100 Investments
VentureSouth has made 100 investments. Their latest investment was in Gradient Health as part of their Seed VC - II on June 6, 2023.

VentureSouth Investments Activity

Date | Round | Company | Amount | New? | Co-Investors | Sources |
---|---|---|---|---|---|---|
6/20/2023 | Seed VC - II | Gradient Health | $2.75M | Yes | 2 | |
6/1/2023 | Series A - III | APPROVE | $3.94M | No | 3 | |
3/29/2023 | Angel | Darby | Yes | 2 | ||
12/8/2022 | Series C | |||||
6/7/2022 | Seed VC |
Date | 6/20/2023 | 6/1/2023 | 3/29/2023 | 12/8/2022 | 6/7/2022 |
---|---|---|---|---|---|
Round | Seed VC - II | Series A - III | Angel | Series C | Seed VC |
Company | Gradient Health | APPROVE | Darby | ||
Amount | $2.75M | $3.94M | |||
New? | Yes | No | Yes | ||
Co-Investors | |||||
Sources | 2 | 3 | 2 |
VentureSouth Portfolio Exits
13 Portfolio Exits
VentureSouth has 13 portfolio exits. Their latest portfolio exit was ThreatSwitch on October 18, 2022.
Date | Exit | Companies | Valuation Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model. | Acquirer | Sources |
---|---|---|---|---|---|
10/18/2022 | Acquired | 5 | |||
1/12/2022 | Acquired | 4 | |||
6/15/2021 | Reverse Merger | 8 | |||
Date | 10/18/2022 | 1/12/2022 | 6/15/2021 | ||
---|---|---|---|---|---|
Exit | Acquired | Acquired | Reverse Merger | ||
Companies | |||||
Valuation | |||||
Acquirer | |||||
Sources | 5 | 4 | 8 |
VentureSouth Fund History
4 Fund Histories
VentureSouth has 4 funds, including VentureSouth Angel Fund IV.
Closing Date | Fund | Fund Type | Status | Amount | Sources |
---|---|---|---|---|---|
8/17/2021 | VentureSouth Angel Fund IV | $5M | 2 | ||
1/14/2019 | VentureSouth Angel Fund III | ||||
12/31/2017 | VentureSouth Angel Fund II LP | ||||
6/27/2014 | Palmetto Angel 2014 Fund LP |
Closing Date | 8/17/2021 | 1/14/2019 | 12/31/2017 | 6/27/2014 |
---|---|---|---|---|
Fund | VentureSouth Angel Fund IV | VentureSouth Angel Fund III | VentureSouth Angel Fund II LP | Palmetto Angel 2014 Fund LP |
Fund Type | ||||
Status | ||||
Amount | $5M | |||
Sources | 2 |
VentureSouth Partners & Customers
2 Partners and customers
VentureSouth has 2 strategic partners and customers. VentureSouth recently partnered with Startup Virginia on March 3, 2021.
Date | Type | Business Partner | Country | News Snippet | Sources |
---|---|---|---|---|---|
3/10/2021 | Partner | United States | Startup Virginia , VentureSouth partner to provide investment opportunities to Richmond founders . | 1 | |
2/1/2021 | Vendor |
Date | 3/10/2021 | 2/1/2021 |
---|---|---|
Type | Partner | Vendor |
Business Partner | ||
Country | United States | |
News Snippet | Startup Virginia , VentureSouth partner to provide investment opportunities to Richmond founders . | |
Sources | 1 |
VentureSouth Team
5 Team Members
VentureSouth has 5 team members, including current Founder, Managing Director, Matt Dunbar.
Name | Work History | Title | Status |
---|---|---|---|
Matt Dunbar | Founder, Managing Director | Current | |
Name | Matt Dunbar | ||||
---|---|---|---|---|---|
Work History | |||||
Title | Founder, Managing Director | ||||
Status | Current |