South Carolina’s biotech scene is quietly building momentum. In fact, the state’s life sciences industry now supports over 87,000 jobs and contributes more than $25 billion annually to the economy (SCBIO Report).
From Medtech to drug discovery, the Palmetto State is seeing a growing number of promising biotech startups. But as every founder knows, innovation needs fuel, and that means capital.
In this article, we’ve rounded up the top 7 angel investors in South Carolina who are actively backing biotech founders.
Let’s get started!
Top 7 Angel Investors in South Carolina Who Invest in Biotech Startups
Here’s a table to quickly summarize the list:
| Investor Name | Focused Sectors | Funding Stages | Notable Investments | Total Investments |
|---|---|---|---|---|
| Peter Barth | Technology, Education, Entrepreneurship | Seed, Series A | The Iron Yard (coding academy) | ~$100,000 |
| Kevin Swan | Tech, Software, Startups | Seed, Series B | Allocadia, Granify | $500K - $1M |
| David Mendez | Biotech, Advanced Materials, Smart Cities | Seed, Pre-seed | Ateios, NALA Membranes, MFNS | ~$250,000 |
| Ryan McCalley | Tech, Healthcare | Seed, Series A | DigitalOcean, Cyr3con, Vutility | ~$2M |
| Paul Clark | Biotech, Medtech, Clean Technology | Seed, Series A | Selah Genomics, OBMedical, PharmRight, Proterra | $5K - $20K per investment |
| David Crook | Biotech, Edtech, Cleantech, Healthcare IT, Software, IT, Consumer, Aerospace | Seed | Open English | ~$50,000 |
| Jon Payne | Enterprise Software, Healthcare, Clean Technology, Mobile, Consumer Internet | Seed, Series A | Not publicly disclosed | ~$100,000 |
Peter Barth
- Focused Sectors: Technology, Education, Entrepreneurship
- Present In: Greenville, South Carolina
- Notable Investments: The Iron Yard (coding academy)
Peter Barth is a seasoned entrepreneur and angel investor with a strong focus on early-stage startups in the technology and healthcare sectors.
He is currently the CEO of Flatiron School, a prominent coding boot camp, where he has served in various leadership roles since 2018.
When investing in startups, Barth focuses on businesses that demonstrate strong technical teams and innovative solutions in healthcare and education. He values companies that value market needs and have the potential for scalable impact.
The investment range of Peter Barth is around $100,000.
Kevin Swan
- Focused Sectors: : Tech, Software, Startups
- Present In: : Charleston, South Carolina
- Notable Investments: Allocadia and Granify
Kevin Swan is a seasoned investor and executive with a strong background in the technology and healthcare sectors. He currently serves as the Managing Director and Head of Private Market Solutions at Morgan Stanley, where he leads initiatives in private equity management and strategic partnerships.
Swan's investment journey began in the early 2000s, and he has since been involved in various capacities, including as a Partner at iNovia Capital.
As an investor, Swan prioritizes startups towards startups with strong technical teams and innovative solutions in Biotech, enterprise software, SaaS, and digital media. Swan typically invests in seed to Series B stages, with investment sizes ranging from $500K to $1M.
David Mendez
- Focused Sectors: Biotech, Advanced Materials, Smart Cities
- Present In: : Charleston, South Carolina
- Notable Investments: : Ateios, NALA Membranes, MFNS
David Mendez is a seasoned venture capitalist and entrepreneur with a strong focus on early-stage investments in biotech, healthtech, and advanced materials.
He currently serves as a Managing Partner at Good Growth Capital, a venture capital firm based in Charleston, South Carolina.
Before joining Good Growth Capital, Mendez co-founded Capital A Partners (CapA), the first venture capital firm in South Carolina, which achieved over a 9x return for its investors. He also served as a Managing Director at Katalyst Venture Partners and led the Techstars/Arcadis City of 2030 Accelerator in Amsterdam, focusing on SmartCity initiatives.
Mendez's investment strategy revolves around early-stage companies, often at the seed or pre-seed stage, particularly those developing novel technologies in healthcare and advanced materials.
He looks for early partnerships with founders who are well-experienced and startups that can easily give 4-8x ROI.
The investment range of David Mendez is around $250,000.
Ryan McCalley
- Focused Sectors: Tech and Healthcare
- Present In: South Carolina
- Notable Investments: DigitalOcean, Cyr3con, and Vutility.
Ryan McCalley is a seasoned investor and entrepreneur with over two decades of experience in portfolio management and startup operations.
He is the Founder and Managing Partner of SQN Venture Partners, a venture lending firm based in Charleston, South Carolina. Under his leadership, SQN has invested over $300 million in early- to mid-stage transformative companies across various sectors, including biotechnology, healthcare, artificial intelligence, and sustainable energy
Prior to founding SQN, McCalley served as Senior Vice President at ATEL Ventures. He also co-founded PURE Energies, Inc.
McCalley's investment approach focuses on companies with innovative solutions working in large markets. Even in high-competition markets, McCalley wants the startup to have a unique edge that can position itself as an industry leader for the coming year.
In the initial rounds, McCalley can invest around $2M.
Paul Clark
- Focused Sectors: : Biotech, Medtech, Clean Technology
- Present In: Greenville, South Carolina
- Notable Investments: Selah Genomics, OBMedical, PharmRight, Proterra
Paul Clark is also an active angel investor and the Managing Director of VentureSouth.
Since co-founding VentureSouth in 2014, Clark has been expanding the firm's reach across the Southeastern United States, developing and managing multiple angel groups and funds that have collectively invested over $80 million in more than 100 companies.
When investing in startups, Clark focuses on early-stage companies, particularly those in the biotech, digital health, and enterprise SaaS sectors. He typically invests in seed to Series A rounds, with investment sizes ranging from $5,000 to $20,000, aiming for a target of $10,000 per investment.
David Crook
- Focused Sectors: : Biotech, Edtech, Cleantech, Healthcare IT, Software, IT, Consumer, Aerospace
- Present In: South Carolina
- Notable Investments: : Open English
David Crook is an investor and also the Chief Operating Officer at Arclabs Welding School.
Crook's investment strategy centers on seed-stage companies, particularly those introducing innovative solutions in their respective industries. He seeks startups with strong leadership teams and the potential for 5-6x ROI within the first 4 years of investment.
Although David has a strong bias towards aerospace startups, he also likes to invest in biotech or healthcare businesses that are related to education.
The investment range of David Crook is around $50,000.
Jon Payne
- Focused Sectors: Enterprise Software, Healthcare, Clean Technology, Mobile, Consumer Internet
- Present In: Fort Mill, South Carolina
- Notable Investments: Specific portfolio companies are not publicly disclosed
Jon Payne is an active angel investor based in Fort Mill, South Carolina.
He has founded and led multiple ventures, including Net Focus Media, Vocational Media Group, and Illuminated Goods. His entrepreneurial journey has equipped him with insights into the challenges startups face, which is the prime reason for his strict focus on Seed-stage businesses.
As an angel investor, Payne has backed over 50 startups, primarily focusing on early-stage companies in sectors like enterprise software, healthcare, clean technology, mobile, and consumer internet.
He typically invests during the seed to Series A stages, seeking startups with paying customers, a clear path to profitability, and a strong, execution-focused founding team.
Moreover, Payne is known for his candid advice to founders. He often shares insights on common pitfalls in startup pitches, aiming to guide entrepreneurs toward more effective fundraising approaches.
The investment range of Jon Payne is around $100,000.
Wrap-Up:
In short, South Carolina’s biotech scene is buzzing, and investors are paying attention.
With over 87,000 jobs in life sciences and startups popping up across the state, angel investors are playing a key role in making sure these innovations reach their full potential.
But let’s be real, getting that investment isn’t a walk in the park.
Pitching to angels needs a game plan. If you’re looking to grab their attention, here are a few tips that will set up your journey:
- Your team is everything. Investors want to see a group of people who can execute.
- Know your market inside and out. Be ready to prove there’s a real demand for what you’re offering.
- Don’t sugarcoat it. Investors want to know the risks as much as the rewards.
