June 4, 2024
Charleston, SC and Boston, MA
Good Growth Capital, a majority women-owned venture capital firm, has announced a new investment by Bank of America that will support the VC firm’s Fund III. Focusing on early-stage companies, Good Growth Capital has a dual investment mission: to create the highest possible returns by investing in defensible technology companies in the life science, green tech and data science sectors, and secondly, to make investments that have a positive societal impact.
Across Good Growth Capital’s earlier funds, 60% of portfolio companies are led by CEOs who are either women or from traditionally under-represented ethnic backgrounds. In addition, 78% of Good Growth Capital’s portfolio companies have at least one diverse founder that is not a CEO."
Through its sound strategies and a leadership team with extensive experience, Good Growth Capital has built a portfolio of companies that meet their defined investment targets,” said Mark Munn, President, Bank of America Charleston-Hilton Head. “We are excited at the positive impact their investment decisions will continue to have on building communities across the country.”
“Bank of America’s investment will help support the fund’s mission to identify the best new technologies while giving access to scientists and founders from many different backgrounds,” said David Mendez, Managing Partner at Good Growth Capital. “We are committed to leveling the playing field for diverse teams, since through our own analysis and investment returns, these founders are out-performing the broader market.”
Good Growth Capital prioritizes mentorship both prior and post investment in its strategy. The mentoring is made possible by a team of operators and scientists who have real-world experience in identifying and de-risking high potential science- and technology-based companies.
“Running a successful venture fund means focusing on all stages of the investment, from identifying the best scientists and companies through to managing the portfolio and helping our companies reach a successful acquisition or IPO,” relayed Amy Salzhauer, Good Growth Managing Partner. “We are honored to have Bank of America join us as an investor.”
“Our target sectors - life science, green tech and data science- are driving the economy, so it makes sense that we are investing in Seed and Series A innovators from these sectors to help funnel greater economic growth,” said Maureen Stancik Boyce, Good Growth Managing Partner.
About Good Growth Capital
Good Growth Capital is a majority women-owned venture capital firm that invests in early-stage life science, green tech and data science companies that meet pressing societal needs. Based in Charleston, SC and Boston, MA, Good Growth is known for finding, funding and growing superior, defensible technology companies. The team has world-leading expertise in technology commercialization, with the Managing Partners having a combined 120 years of early-stage operational and investing experience. Good Growth invests for the highest possible returns while also investing for positive societal impact. Good Growth Capital and its funds meet both ESG and UNSDG impact goals.
Learn more at www.goodgrowthvc.com
