Happy 2017 everyone!
We begin our portfolio news this year with a BIG announcement – a $140 million round raised by portfolio company Proterra. This is genuinely exciting and national-scope news – congratulations to the team that is truly revolutionizing bus transportation.
It’s also exciting news for UCAN and VentureSouth. Our members were able to participate in this financing – and did so with enthusiasm. We made a substantial investment (though of course a small proportion of $140 million!) – particularly for an angel group that had already invested repeatedly in the company in each every round since we first invested.
VentureSouth (via UCAN) first invested in the bridge round in 2011 that allowed the company to survive long enough to raise the first venture capital round from Kleiner Perkins. Since then, the company has gone from strength to strength. We’ll explore on our blog some lessons learned from this investment. Look out for those.
It is still possible to invest in Proterra through VentureSouth. Contact us to learn more.