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No Shortage of Great Tech Companies or Talent in the South

Good Growth Capital, a Charleston-based venture capital firm that announced its formation in April and took in its first capital over the summer, is already announcing its first investments.

“There is no shortage of great technology companies and talent in the Southeast,” said Amy Salzhauer, a Managing Partner of Good Growth Capital. “We are seeing an incredibly robust pipeline of investment opportunities in the region. Our fund has deep networks across the country—we have Venture Partners in Boston and Washington, DC as well as in the Southeast—but three of our first investments are here in Charleston.”

Good Growth Capital’s first Charleston-based investments include Questis, an enterprise-level financial platform that enables businesses to offer financial wellness tools as an employee benefit. The investment is being led on behalf of the fund by Milt Alpern, a Venture Partner with Good Growth Capital and formerly CFO of Benefitfocus.

“I’m very excited about the potential of Questis as a business opportunity,” remarked Alpern. “GGC’s inaugural portfolio of investments demonstrate our ability to attract, evaluate and propose exciting opportunities for our investors to put capital to work. The entrepreneurs behind our portfolio companies are taking innovative ideas and creating real products that, we believe, will result in significant returns.”

Good Growth Capital Managing Partner Carolyne La Sala’s experience includes launching and running iTunes, iTunes Europe, and the App Store for Apple, so she has considerable insight to share with entrepreneurs and companies that need to operate in those environments. She says, “This is a great place to live and a great place to do business, but it has been a capital desert for companies seeking more than a few hundred thousand dollars. That dearth of capital has limited entrepreneurship in the region. So while we are also seeking the highest possible returns for our investors, we also think of ourselves as impact investors who can help sustainably grow the economy of South Carolina and the Southeast.”

The fund is aiming for at least 50% of its investments to be in the region, but having a talented team of experienced entrepreneurs in multiple cities around the country allows the fund’s investors access to world-class deals that would otherwise not be available in the Southeast.

The fund’s main investing team in Charleston is rounded out by David Mendez and John Osborne, both experienced investors in the region. “I can’t say enough about what a pleasure it is working with our team. A committed capital fund with the kind of talent our partners have executing multiple investments in our region is extremely exciting. I look forward to helping support our initial portfolio company founders as they continue to grow,” says John Osborne, a Managing Partner with Good Growth Capital. Adds Mendez, “This is just the first set of investments. There is so much to see in our investment area. We are excited about these deals, and looking forward to the ones to come.”

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