757 Angels and VentureSouth Announce Mega-Region Angel Group Partnership
For Immediate Release
Nov 18, 2022
Contact: Monique Adams, [email protected]
Contact: Matt Dunbar, [email protected]
Norfolk, VA and Greenville, S.C. – 757 Angels, named a “Top 3 Angel Network” by the Angel Capital Association (ACA), and VentureSouth, one of the largest angel investment groups in the United States, are excited to announce their partnership, effective June 2023. The partnership will provide Virginia entrepreneurs with increased access to capital and investors with increased benefits, including diversification, deal flow, professional diligence, and member networking.
With the addition of 757 Angels, the VentureSouth network will expand to its 20th Southeastern market, bringing the resources of a professionally led early-stage venture capital firm to local Hampton Roads investors. VentureSouth, with more than 450 members and more than $70M invested in nearly 100 early stage companies, has also been consistently recognized by the ACA as one of the top 10 groups in North America.
“We are proud to partner with VentureSouth, given their reputation, financial results, and talent,” said Dave Levin, MD, Chair, 757 Angels. “As in many areas of business and development, angel networks are forming to expand their reach and expertise to benefit founders and investors alike.”
“The desirability of VentureSouth’s model is that it follows a methodical and proven process that leverages the collective expertise of hundreds of investors who screen investment opportunities and conduct professional due diligence”, said Monique Adams, Executive Director, 757 Angels. “Their highly professional and successful process will undoubtedly lead to the growth of Hampton Roads’ already expanding entrepreneurship ecosystem, giving local companies broader access to capital and expertise.”
Matt Dunbar, Co-Founder and Managing Director of VentureSouth, commented, “We are excited and honored to align with one of the nation’s strongest angel groups, and we are pleased to add VentureSouth representation in the growing Hampton Roads entrepreneurial ecosystem. We look forward to partnering with 757 Angels to continue the impressive momentum they have built serving investors and entrepreneurs in the region.”
Dunbar noted that 757 Angels will retain its name and add “Powered by VentureSouth” to its logo. 757 Angels, Powered by VentureSouth, will continue to emphasize the importance of supporting local companies,” he said. “The VentureSouth model allows the most promising local companies to gain access to a deep pool of capital and expertise through our broad investor network and affiliated funds.”
“As a portfolio company with investment from 757 Angels’ members, we are excited to learn of this partnership,” said Jeff Conroy, Founder and CEO of sports medicine company Embody, Inc. Conroy continued, “Access to capital is fundamental to new companies, and it is a testimony to founders here about the economic growth of our region and Virginia.”
Adams is extremely supportive of the VentureSouth model, noting that “VentureSouth will provide our members, entrepreneurs, and community more benefits in terms of ROI, resources, networking, and economic development.”
Adams will be assisting with the transition through summer 2023 when she will be stepping back from her role to take some time to consider other opportunities in the ecosystem. A new Director position will be posted and filled at the appropriate time.
About 757 Angels
757 Angels was formed in 2015 and seeks to catalyze the regional and statewide economy by supporting investment in startups and early-stage companies. To date, 757 Angels’ members’ have invested more than $100M and has been recognized as a Top 10 angel group in North America in 2019 and 2020 and a Top 3 in 2021.
About Venture South
VentureSouth is an early-stage venture firm that provides capital and expertise to Southeastern startups through its angel investment network and affiliated funds. VentureSouth has grown to include more than 450 active investors, making it one of the largest angel investment groups in the United States – and has been named a top 10 angel group numerous times. To date, VentureSouth has invested over $70 million in nearly 100 companies. www.venturesouth.vc