DURHAM, NC—Donald J. Rainey, the DC-based partner of Intersouth Partners, the Durham venture capital firm, is leaving it. PeHUB and other sources report Rainy will join Grotech Capital Partners, another venture capital firm focused on the Southeast and Mid-Atlantic region.

Rainey joined Intersouth in 2000 from TotalSumParts, a web development firm he founded in 1998, located in Reston, Virginia. He leaves to join another venture capital firm.

“We consider the Baltimore and Washington, DC area to be an integral part of Intersouth’s investment strategy,” said Mitch Mumma, general partner with Intersouth Partners.

“We appreciate the contributions Don has made over the years as we’ve grown our investment footprint in the region, and we wish him the best in his new endeavors. We look forward to identifying exciting new companies in which to invest while providing continued support for our active portfolio of technology and life science companies in the region.”

Rainey primarily worked with Intersouth portfolio companies in the Baltimore and Washington, DC area. His role with those companies will be managed by Intersouth team members as part of a comprehensive transition plan.

Intersouth Partners is one of the largest, most active and most experienced early stage venture funds in the country, having invested in more than 90 private companies over the last two decades. Founded in 1985, Intersouth Partners manages $780 million in seven venture capital limited partnerships.

Grotech says it applies a “stage-agnostic” investment strategy and invests in only in technology firms, although in the past it also invested in life science and consumer companies.

On the Web: www.intersouth.com; www.grotech.com

© 2007, TechJournal South. All rights reserved.