About
The Palmetto Angel Fund was launched in 2014 as South Carolina's first state-wide early-stage investment fund, establishing a new model for angel capital deployment across the Carolinas. Formed as a collaboration between the South Carolina Angel Network (SCAN) and its affiliated regional groups—including the Upstate Carolina Angel Network (UCAN), Capital Angels, and the Tiger Angel Network—the fund operates as a co-investment vehicle designed to deploy committed capital alongside active individual angels in local groups. This sidecar fund structure allows the Palmetto Angel Fund to extend the reach and impact of angel syndicates by providing additional capital to companies that have already attracted investment from member angels. The fund invests in early-stage technology-enabled ventures across the Carolinas, with documented investments in companies spanning healthcare devices (OB Medical), zero-emission vehicle manufacturing (Proterra), healthcare messaging solutions (Zipit Wireless), and enterprise software platforms (TipHive and Pandoodle). By coordinating with established regional angel networks, the fund leverages the due diligence and industry expertise of successful entrepreneurs and business leaders who serve as active investors and advisors. The fund's model appeals to both institutional limited partners seeking exposure to early-stage deal flow and individual angels looking to participate in smaller increments through a professionally managed vehicle. The Palmetto Angel Fund closed to new investors at the end of 2014 after raising over $1 million in committed capital. The fund was subsequently rebranded as the VentureSouth Angel Fund, reflecting broader organizational evolution within the ecosystem supporting early-stage innovation across South Carolina and North Carolina.