Intersouth Partners

Intersouth Partners is a Durham, North Carolina–based venture capital firm founded in 1985 that concentrates on seed and early-stage investments in technology and life sciences. It seeks to be a lead or co-lead investor, often participating in the first institutional round with initial investments in the range of several hundred thousand to several million dollars and pursuing a total investment across rounds around ten to twelve million dollars. The firm emphasizes equity investments and typically seeks a board seat on portfolio companies, aiming to support growth in sectors such as software, semiconductors, communications, digital media, clean technology, security, medical devices, biopharmaceuticals, agricultural biotechnology, and biomaterials. Its geographic focus centers on the Southeast, including the Research Triangle area, Washington, DC, Atlanta, and the broader corridor from Baltimore to Florida. The firm is known for its active engagement and long-standing experience in building early-stage technology and life sciences companies.

Kay Burgess

CFO

Dennis Dougherty

Founder and Managing General Partner

Richard Kent MD

Venture Partner

Mitchell Mumma

Managing General Partner

Mitch Mumma

Managing General Partner

Past deals in North Carolina

Advanced Animal Diagnostics

Venture Round in 2021
Advanced Animal Diagnostics, Inc. specializes in the research, development, and commercialization of on-farm diagnostic tools aimed at the early detection of subclinical mastitis in dairy cows. Founded in 2001 and based in Durham, North Carolina, the company offers innovative products such as the QScout Farm Lab, an analyzer system that detects infections before visible symptoms occur, and the QScout Milk Leukocyte Differential rapid test, which identifies and differentiates leukocytes in milk to facilitate early mastitis detection. Additionally, Advanced Animal Diagnostics provides the QuickSmear slide for animal research and the SCC+ System for timely mastitis diagnosis. The company's solutions focus on enhancing the management of disease states and improving the reproductive, nutritional, and overall health of production animals, serving veterinarians and livestock producers to promote healthier and more productive animal care.

Vascular Pharmaceuticals

Series A in 2015
Vascular Pharmaceuticals, Inc. is a biopharmaceutical company focused on developing therapeutics for patients with type 1 and type 2 diabetes, particularly targeting diabetic nephropathy. Founded in 2005 and headquartered in Research Triangle Park, North Carolina, the company is advancing its lead candidate, VPI-2690B, a subcutaneously administered monoclonal antibody designed to address complications associated with diabetes. This drug binds to a specific molecular target within the αVβ3 receptor, aiming to mitigate the harmful effects of hyperglycemia and improve patient outcomes. Vascular Pharmaceuticals operates at the intersection of biotechnology and healthcare, committed to innovative solutions for diabetes-related complications.

Zenph

Debt Financing in 2013
Learn to play the music you love in the Zenph Online Education Network (ZOEN). We deliver the perfect match between teachers and students through live online music lessons. Whether you’re looking to learn your favorite song, seeking advice on perfecting your technique or searching for the right music teacher for your kids, taking a live online music lesson from one of the ZOEN’s experienced, nationally renowned music teachers is just a matter of a few clicks! The ZOEN is brought to you by Zenph, Inc. – our award winning Re-Performance® technology was named one of the “Best Ideas of the Year” by The New York Times Magazine and has earned us accolades from music lovers and critics the world over, including multiple GRAMMY® nominations. Based in North Carolina’s Research Triangle Park, we are a venture-backed technology company led by a team of music and software professionals with expertise in music education, consumer software, social gaming and entertainment.

Argos Therapeutics

Series E in 2013
Argos Therapeutics is a biotechnology company specializing in developing immunotherapy treatments for cancer and infectious diseases. It focuses on personalized immunotherapies using its proprietary Arcelis technology platform, with product candidates including rocapuldencel-T for metastatic renal cell carcinoma and AGS-004 for HIV.

Argos Therapeutics

Series E in 2013
Argos Therapeutics is a biotechnology company specializing in developing immunotherapy treatments for cancer and infectious diseases. It focuses on personalized immunotherapies using its proprietary Arcelis technology platform, with product candidates including rocapuldencel-T for metastatic renal cell carcinoma and AGS-004 for HIV.

Advanced Animal Diagnostics

Series B in 2013
Advanced Animal Diagnostics, Inc. specializes in the research, development, and commercialization of on-farm diagnostic tools aimed at the early detection of subclinical mastitis in dairy cows. Founded in 2001 and based in Durham, North Carolina, the company offers innovative products such as the QScout Farm Lab, an analyzer system that detects infections before visible symptoms occur, and the QScout Milk Leukocyte Differential rapid test, which identifies and differentiates leukocytes in milk to facilitate early mastitis detection. Additionally, Advanced Animal Diagnostics provides the QuickSmear slide for animal research and the SCC+ System for timely mastitis diagnosis. The company's solutions focus on enhancing the management of disease states and improving the reproductive, nutritional, and overall health of production animals, serving veterinarians and livestock producers to promote healthier and more productive animal care.

Vascular Pharmaceuticals

Series A in 2012
Vascular Pharmaceuticals, Inc. is a biopharmaceutical company focused on developing therapeutics for patients with type 1 and type 2 diabetes, particularly targeting diabetic nephropathy. Founded in 2005 and headquartered in Research Triangle Park, North Carolina, the company is advancing its lead candidate, VPI-2690B, a subcutaneously administered monoclonal antibody designed to address complications associated with diabetes. This drug binds to a specific molecular target within the αVβ3 receptor, aiming to mitigate the harmful effects of hyperglycemia and improve patient outcomes. Vascular Pharmaceuticals operates at the intersection of biotechnology and healthcare, committed to innovative solutions for diabetes-related complications.

Argos Therapeutics

Series D in 2012
Argos Therapeutics is a biotechnology company specializing in developing immunotherapy treatments for cancer and infectious diseases. It focuses on personalized immunotherapies using its proprietary Arcelis technology platform, with product candidates including rocapuldencel-T for metastatic renal cell carcinoma and AGS-004 for HIV.

Advanced Animal Diagnostics

Series B in 2012
Advanced Animal Diagnostics, Inc. specializes in the research, development, and commercialization of on-farm diagnostic tools aimed at the early detection of subclinical mastitis in dairy cows. Founded in 2001 and based in Durham, North Carolina, the company offers innovative products such as the QScout Farm Lab, an analyzer system that detects infections before visible symptoms occur, and the QScout Milk Leukocyte Differential rapid test, which identifies and differentiates leukocytes in milk to facilitate early mastitis detection. Additionally, Advanced Animal Diagnostics provides the QuickSmear slide for animal research and the SCC+ System for timely mastitis diagnosis. The company's solutions focus on enhancing the management of disease states and improving the reproductive, nutritional, and overall health of production animals, serving veterinarians and livestock producers to promote healthier and more productive animal care.

Semprius

Venture Round in 2012
Semprius, Inc. is a company based in Durham, North Carolina, specializing in the design, development, and manufacture of high concentration photovoltaic (HCPV) solar modules. Founded in 2005, Semprius focuses on creating low-cost, high-performance solar solutions that are particularly effective in sunny and dry climates. The company's innovative micro-transfer printing technology allows for the production of highly efficient and reliable CPV modules, which are suitable for utility, commercial, industrial, and government applications. Additionally, Semprius licenses its micro-transfer printing technology for various non-solar applications, enabling the development of lightweight and thin products such as flat-panel displays, flexible electronics, and large-area sensors. This technology facilitates the integration of high-performance semiconductors across diverse platforms, enhancing the usability and accessibility of solar energy.

Semprius

Series C in 2011
Semprius, Inc. is a company based in Durham, North Carolina, specializing in the design, development, and manufacture of high concentration photovoltaic (HCPV) solar modules. Founded in 2005, Semprius focuses on creating low-cost, high-performance solar solutions that are particularly effective in sunny and dry climates. The company's innovative micro-transfer printing technology allows for the production of highly efficient and reliable CPV modules, which are suitable for utility, commercial, industrial, and government applications. Additionally, Semprius licenses its micro-transfer printing technology for various non-solar applications, enabling the development of lightweight and thin products such as flat-panel displays, flexible electronics, and large-area sensors. This technology facilitates the integration of high-performance semiconductors across diverse platforms, enhancing the usability and accessibility of solar energy.

Advanced Animal Diagnostics

Series B in 2011
Advanced Animal Diagnostics, Inc. specializes in the research, development, and commercialization of on-farm diagnostic tools aimed at the early detection of subclinical mastitis in dairy cows. Founded in 2001 and based in Durham, North Carolina, the company offers innovative products such as the QScout Farm Lab, an analyzer system that detects infections before visible symptoms occur, and the QScout Milk Leukocyte Differential rapid test, which identifies and differentiates leukocytes in milk to facilitate early mastitis detection. Additionally, Advanced Animal Diagnostics provides the QuickSmear slide for animal research and the SCC+ System for timely mastitis diagnosis. The company's solutions focus on enhancing the management of disease states and improving the reproductive, nutritional, and overall health of production animals, serving veterinarians and livestock producers to promote healthier and more productive animal care.

Semprius

Series B in 2009
Semprius, Inc. is a company based in Durham, North Carolina, specializing in the design, development, and manufacture of high concentration photovoltaic (HCPV) solar modules. Founded in 2005, Semprius focuses on creating low-cost, high-performance solar solutions that are particularly effective in sunny and dry climates. The company's innovative micro-transfer printing technology allows for the production of highly efficient and reliable CPV modules, which are suitable for utility, commercial, industrial, and government applications. Additionally, Semprius licenses its micro-transfer printing technology for various non-solar applications, enabling the development of lightweight and thin products such as flat-panel displays, flexible electronics, and large-area sensors. This technology facilitates the integration of high-performance semiconductors across diverse platforms, enhancing the usability and accessibility of solar energy.

Argos Therapeutics

Series C in 2008
Argos Therapeutics is a biotechnology company specializing in developing immunotherapy treatments for cancer and infectious diseases. It focuses on personalized immunotherapies using its proprietary Arcelis technology platform, with product candidates including rocapuldencel-T for metastatic renal cell carcinoma and AGS-004 for HIV.

Semprius

Series A in 2007
Semprius, Inc. is a company based in Durham, North Carolina, specializing in the design, development, and manufacture of high concentration photovoltaic (HCPV) solar modules. Founded in 2005, Semprius focuses on creating low-cost, high-performance solar solutions that are particularly effective in sunny and dry climates. The company's innovative micro-transfer printing technology allows for the production of highly efficient and reliable CPV modules, which are suitable for utility, commercial, industrial, and government applications. Additionally, Semprius licenses its micro-transfer printing technology for various non-solar applications, enabling the development of lightweight and thin products such as flat-panel displays, flexible electronics, and large-area sensors. This technology facilitates the integration of high-performance semiconductors across diverse platforms, enhancing the usability and accessibility of solar energy.

6th Sense Analytics

Series A in 2007
6th Sense Analytics provides software solutions for automated collection and analysis of software engineering process and product data. The company was founded in 2004 and is based in Morrisville, North Carolina. As of January 12, 2009, 6th Sense Analytics operates as a subsidiary of Rally Software Development Corp.

Nitronex

Venture Round in 2006
Nitronex is a company specializing in the development and manufacturing of gallium nitride-on-silicon (GaN-on-Si) RF power devices. Founded in 1999 by graduates from North Carolina State University's wide bandgap program, the company is headquartered in Durham, North Carolina. Nitronex is recognized as a global leader in high-performance GaN-on-Si RF power devices, holding 21 patents with an additional 17 pending. The company's products are primarily aimed at wireless communications, solid-state lighting, and data storage applications, with a focus on wireless infrastructure, broadband, and military markets. Through its innovative technology, Nitronex provides RF power transistors that enhance the performance and efficiency of various electronic systems.

HexaTech

Series A in 2005
HexaTech, Inc., established in 2001 and based in Morrisville, North Carolina, specializes in the development and production of advanced semiconductor materials, with a particular focus on single-crystalline aluminum nitride (AlN) substrates. These substrates are crucial for electronic and optoelectronic devices, including ultraviolet (UV-C) LEDs, lasers, and detectors. The company's products are used in various applications such as sterilization and disinfection systems, chemical and bioagent detection, and analytical devices for biotechnology and pharmaceutical industries. Additionally, HexaTech's technology is employed in the development of high voltage/high power diodes and switches, as well as high frequency (RF) devices.

6th Sense Analytics

Venture Round in 2005
6th Sense Analytics provides software solutions for automated collection and analysis of software engineering process and product data. The company was founded in 2004 and is based in Morrisville, North Carolina. As of January 12, 2009, 6th Sense Analytics operates as a subsidiary of Rally Software Development Corp.

Jaggaer

Venture Round in 2004
Jaggaer, LLC is a cloud-based software company that specializes in procurement automation and spend management solutions. Founded in 1995 and headquartered in Morrisville, North Carolina, Jaggaer offers a comprehensive suite of tools for organizations to streamline their purchasing processes, manage supplier relationships, and analyze spending data. Its key products include Sourcing Manager for bid management, Eprocurement solutions for procurement automation, and Spend Analytics for data-driven cost management. Additionally, Jaggaer provides inventory management and invoicing solutions, enhancing overall operational efficiency. The company's services are delivered through a software-as-a-service model, ensuring scalability and accessibility for its diverse client base, which includes sectors such as higher education, healthcare, and government. Jaggaer's platform aims to reduce costs, improve collaboration with suppliers, and optimize supply chain resilience.

StemCo Biomedical

Series B in 2003
StemCo Biomedical, Inc. was founded in 1999 and is located in the Research Triangle Park area of NC. The Company is engaged in the development, manufacture and distribution of a series of medical products designed to improve therapeutic transplantation of adult hematopoetic stem and progenitor cells derived from bone marrow, peripheral blood or umbilical cord blood. Addressing a market of more than $1 billion annually, the Company will have a series of products on the market starting in 2002 that identify, sort and custom-engineer stem cell grafts based upon cellular expression of ALDH resulting in what may be better, more effective stem cell transplants in the future.

Norak Biosciences

Series B in 2002
Norak Biosciences, Inc., headquartered in Research Triangle Park, NC, is a private biotechnology company. Norak is utilizing its proprietary Transfluor technology to become a world leader in the discovery and development of drugs that regulate G protein-coupled receptors.

StemCo Biomedical

Series A in 2000
StemCo Biomedical, Inc. was founded in 1999 and is located in the Research Triangle Park area of NC. The Company is engaged in the development, manufacture and distribution of a series of medical products designed to improve therapeutic transplantation of adult hematopoetic stem and progenitor cells derived from bone marrow, peripheral blood or umbilical cord blood. Addressing a market of more than $1 billion annually, the Company will have a series of products on the market starting in 2002 that identify, sort and custom-engineer stem cell grafts based upon cellular expression of ALDH resulting in what may be better, more effective stem cell transplants in the future.

Accordant Health Services

Venture Round in 2000
Accordant provides its program members with healthcare advice. The service focuses on delivering support for patients with rare, chronic diseases. Its care management solutions comprise of tools and resources of professionals in the healthcare sector. The service also delivers care management services for rare diseases which include health plans, employers, and third party administrators. Accordant is a subsidiary of CVS Caremark. It was founded by Steve Schelhammer and is headquartered in Greensboro, North Carolina.

Accipiter

Series A in 1997
Accipiter offers online advertising solutions and services worldwide. It offers AdManager, an ad management solution that allows to increase targeting capabilities to speed ad delivery and to monitor and control inventory projections in real-time; Ad Trafficking, which provides AdManager hosted clients with outsourced and customized solution to administer the campaign management process; AdMarket, a real-time bid-for-placement technology enabling publishers to operate branded online advertising marketplaces and transact with advertisers who are requesting a pay-per-click pricing model; and Visitor Interest Behavioral Engine, a behavioral targeting solution that delivers promotions and content to interested prospects. Accipiter is based in Raleigh, North Carolina with an additional office in London, United Kingdom.

Accipiter

Seed Round in 1996
Accipiter offers online advertising solutions and services worldwide. It offers AdManager, an ad management solution that allows to increase targeting capabilities to speed ad delivery and to monitor and control inventory projections in real-time; Ad Trafficking, which provides AdManager hosted clients with outsourced and customized solution to administer the campaign management process; AdMarket, a real-time bid-for-placement technology enabling publishers to operate branded online advertising marketplaces and transact with advertisers who are requesting a pay-per-click pricing model; and Visitor Interest Behavioral Engine, a behavioral targeting solution that delivers promotions and content to interested prospects. Accipiter is based in Raleigh, North Carolina with an additional office in London, United Kingdom.
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