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Popular startup in VentureSouth network receives $9M investment from PNC Bank

By Staff Report, posted Mar 8, 2022 on BizFayetteville.com

Despite challenges presented by the pandemic, VentureSouth finished 2021 with $10 million invested in 30 early-stage companies in the Southeast, one of which just received a large investment from PNC Bank. 

TRU Colors, a brewery based in Wilmington, received $9M in investments from PNC, which will help complete the transformation of a factory that will serve as the headquarters and brewery of TRU Colors.

VentureSouth invested in 11 companies during the year and made 19 further investments to support the growth of existing portfolio companies. The investment firm closed 2021 with $20 million in returns to investors from exits and distributions. 

VentureSouth opened its fourteenth branch in the Fayetteville region in 2020. 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 Managing Director Charlie Banks reflected on the year stating, "2021 was another record-breaking year for VentureSouth. We continued to expand our investor base and improve on all key metrics. We believe this is a testament to both the appealing early-stage investment opportunities in the Southeast and the resilient infrastructure we have built at VentureSouth. Most importantly, we were thrilled to return significant capital to our investors this year. Not only do these returns provide more capital for our region's early-stage companies, it successfully raises the profile of the early-stage investment asset class in the Southeast."

To learn more about VentureSouth and plans for 2022, visit the company’s website.

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