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VentureSouth announces successful exit from portfolio company Atlas Organics

By Staff Report, posted 3 years ago

VentureSouth, an angel investment group, recently announced that it has successfully exited one of its portfolio company investments after the acquisition of Atlas Organics by Generate Capital.

Atlas Organics is based out of Spartanburg, South Carolina and is a developer and operator of commercial composting solutions. Recently, Atlas Organics completed a transformation transaction with Generate Capital that allowed them to expand its operations nationwide.

In 2020, VentureSouth opened its fourteenth branch in the Fayetteville region. The area director is local businessman Marty Cayton. (Editor’s note: Cayton is the publisher of Greater Fayetteville Business Journal.) The group has 400+ angel investors in the Southeast. 

VentureSouth first became involved with Atlas Organics in 2015 when Atlas was in its early stages as a startup. 

Over the last six years, nearly 200 VentureSouth members have invested approximately two million dollars in Atlas Organics as it grew across five states. Along with the investors, VentureSouth included their own funds. 

Each investment and fund made to grow Atlas cumulated over several rounds.

Currently the terms of the partnership between VentureSouth and Atlas Organics are undisclosed; however, there have been significant returns in investment since funding began. 

“Thanks to the VentureSouth team and members who have provided invaluable capital, advice, board contributions, and support over several years to help Atlas grow to where we are today,” CEO of Atlas Organics, Joseph McMillin said in a press release. “In the next few years, we will continue to grow Atlas, from our home in Spartanburg, S.C., to the premier organics recycling company in the nation.” 

VentureSouth Managing Director, Paul Clark, added, “We’re grateful for the partnership, proud of the past VentureSouth and its members have played in Atlas’ growth, and we’re excited to see how they continue to grow its business nationwide with the new capital from Generate Capital.”

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