June 2021 recap:
June was a big month for VentureSouth as we wrapped up the first half of 2021. We made several investments, added new members and cheered numerous major accomplishments from portfolio companies – including one going public!
- In the month of June, VentureSouth invested in four companies – and while we would love to talk about those investments, the rounds are still open and we don’t want to run afoul of disclosure rules. But don’t worry, you’ll be hearing about those investments soon!
- June was a big month for many of our portfolio companies. 6AM City and Spiffy announced expansions into new cities – and in the biggest news, Proterra became a public company!
Ten years ago, VentureSouth investors helped provide bridge financing to a local electric bus company that had recently lost funding from a fraudulent investor. Fast forward to January of 2021 and the company, Proterra, announced it would go public through a SPAC merger. Finally, on June 16th, Proterra rang the Nasdaq Closing Bell!
Proterra is a leader in the design and manufacture of zero-emission electric transit vehicles and EV technology solutions for commercial applications. Proterra provides a suite of products, services and financing options for a seamless transition to clean, quiet, battery-electric fleets. Designed for durability, safety and energy efficiency and validated by rigorous U.S. independent testing, Proterra products are proudly designed, engineered and manufactured in America.
VentureSouth portfolio company 6AM City announced a major expansion into 24 cities across the country by the end of the year. 6AM is redefining the future of local media as the fastest growing newsletter-first local media company in the country, delivering the most relevant need-to-know local news and events. 6AM City aims to build communities driven by conversation, designed to educate and activate cities across the country.
Spiffy is your eco-friendly, on-demand car care solution for wash, detail, oil change, and more. In June, Spiffy launched its South Carolina franchise in Greenville and announced further expansion to Columbia.
- VentureSouth welcomed 9 new members to our flock in June across 6 of our 14 core markets across the Southeast – along with 4 new “virtual” members outside of those markets.
Other Notable Mentions:
- VentureSouth and Venture Carolina hosted five educational sessions this month, covering subjects including How to Pitch, Early Exits, and Taxes for Startups. These sessions are for VentureSouth members, prospective members, and entrepreneurs; so even if you are not a member, be sure to check out https://www.venturecarolina.org/events to view all our upcoming educational events.
- In June, we published testimonials of long-time VentureSouth members Chuck Tutterow and David Grisell. We also posted testimonials from three of our team members, Kevin Meinecke, Alex Biermann, and Paul Clark.