Upstate Upstarts Catalytic Fund

Upstate Upstarts aims to connect and grow the entrepreneurship ecosystem in the Upstate of South Carolina by showcasing early-stage companies that are redefining technology and innovation in the Upstate. It aspires to be a beacon, attracting talent, capital, and partnerships to these innovative startups.

See more about its list of companies and the plans and criteria for investing in these companies.

An Upstate Upstarts Catalytic Fund (UUCF) has been established at Abundance, allowing you to use venture philanthropy to participate. As the Fund’s advisor, the team at Venture Carolina will direct investments from the Upstate Upstarts List that meet Abundance’s impact-focused compliance. As part of the pooled UUCF, your funds will be invested in all qualifying companies selected. Instead, or in addition, you may choose to select qualifying companies on your own.

How it Works

  1. Open a donor-advised fund at Abundance (if new to us!) called an Angel Fund.

  2. Donate to your Angel Fund to cover your desired investment amount and ongoing admin fees as applicable (see Terms & Conditions). Donations may be in the form of new, tax-deductible charitable gifts or grants from other donor-advised funds or foundations.

  3. Recommend that your Angel Fund be used to invest in the pooled UUCF for investing in all qualifying companies. Note, your Angel Fund will not incur fees after transfer is made to the pooled UUCF. In addition, or instead of investing in the pooled UUCF, you may choose to recommend select UUCF investments directly from your Angel Fund. You will be notified when investment opportunities are available.

  4. As the UUCF advisor, Venture Carolina will direct investments from the Upstate Upstarts List that meet Abundance impact-focused compliance.  You will be notifed of these in case you desire to recommend investing directly with your individual Angel Fund.

  5. Abundance executes and monitors placement, aggregates and distributes the funds, carries UUCF investment assets on its books, and manages all compliance in partnership with Venture Carolina.

  6. Any returns to the pooled UUCF are shared out proportionately with individual Angel Funds, available for further venture philanthropy or grantmaking.

Questions? Contact Margaret Gifford at margaret@abundancecap.org