COLUMBIA, S.C. - Trelys Venture Partners has recently conducted an initial closing of its venture capital fund. With this closing, Trelys can now begin evaluating promising businesses with exceptional growth potential and commence investment activities.
"We are very pleased to have reached this important milestone," said Larry Wilson, a managing general partner of Trelys. "Since announcing the creation of the fund last summer, we have received almost 200 business plans from entrepreneurs seeking venture capital. We look forward to reviewing these plans in greater detail and making an initial investment in the near future."
Investors in Trelys include a number of corporations and institutions that have strong ties to South Carolina. They include Blue Cross and Blue Shield of South Carolina, BB&T Corporation, Carolina First Bank and First Citizens Bank, as well as the Clemson Foundation and the Health Sciences Foundation of the Medical University of South Carolina. A large number of business leaders and families from across the state and beyond are also investing in Trelys.
Adrian Wilson, also a managing general partner of Trelys, said, "The support we have received from investors across South Carolina is impressive. These investors share our vision that South Carolina and the Southeastern United States are underserved and offer much in the way of early- and middle-stage investment opportunities. We firmly believe that our efforts will be financially rewarding for our investors and will also prove to be helpful to South Carolina as it transitions to a new economy."
The final size of the venture capital fund is not known at the present time as one or more subsequent closings for additional investors can be held for up to one year. At the time of the announcement of the final closing of the fund, Trelys will disclose the total amount of money raised.
Trelys Venture Partners, based in Columbia, South Carolina, is a venture capital fund that has been organized to invest in high growth companies located in South Carolina and the surrounding region. Trelys will focus its investment attention on companies with a compelling product or service, exceptional growth potential, and a desire for strategic, operational and financial assistance from Trelys' experienced management team.
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