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Good Growth Capital investing in 3 Charleston companies

Banking & Finance
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Good Growth Capital, a Charleston-based venture capital firm formed in April, is investing in three Charleston companies and one in Massachusetts with its inaugural investments.

“There is no shortage of great technology companies and talent in the Southeast,” Amy Salzhauer, managing partner of Good Growth Capital, said in a news release. “We are seeing an incredibly robust pipeline of investment opportunities in the region.”

The firm’s initial Lowcountry investments include:

  • Questis, an enterprise-level financial platform that allows businesses to offer financial wellness tools as an employee benefit. Its headquarters are on Cannon Street in downtown Charleston. Questis raised $2.8 million in angel funding in January 2016.
  • PT On Demand, a private pay platform for physical therapists, is based on Daniel Island. It was the winner of the Harbor Entrepreneur Center’s Cohort 7 pitch competition, held at the 2017 Dig South Conference.
  • Dynepic, which is creating a social platform called iOKids that allows brands to create toys and apps for kids younger than 13, within privacy rules. Dynepic, based on James Island, won Dig South’s 2014 Wild Pitch contest.

Good Growth Capital says it aims to keep at least 50% of its investments in the Southeast.

“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,” said Carolyne LaSala, managing partner. “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 company’s fourth investment is in Rare Genetix, a Cambridge, Mass.-based company formed by experts in RNA biology and disease. The company is developing small molecules that target the underlying genetic causes of diseases including cancer.

“This is just the first set of investments,” said David Mendez, co-founder of Capital A Partners and managing partner of Good Growth Capital. “There is so much to see in our investment area. We are excited about these deals and looking forward to the ones to come.”

Reach Patrick Hoff at 843-849-3144.

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