ATLANTA & RESEARCH TRIANGLE – The economic recovery is not jobless in venture-backed startups. Southern Capitol Ventures’ Jason Caplain tells us, “100 percent of our portfolio companies are hiring.”
In Atlanta, Noro-Moseley Partners portfolio companies list about 150 openings on its site.
Intersouth Partners, based in Durham, NC, says that 14 of 16 of its portfolio companies it surveyed are “hiring across the board.”
Caplain says many of Southern Capitol’s portfolio firms are staffing up in sales and marketing. Southern Capitol’s 11 portfolio companies include firms in Miami, RTP, Baltimore, Morrisville, Raleigh and Durham.
Noro-Moseley’s portfolio firms list jobs for network and systems engineers, security specialists, software engineers, a director of channel sales, a PR associate, and a project manager, among many others.
Intersouth tells us 14 of its companies plan to hire an average of 18 employees each this year with jobs open in both its tech and biotech companies.
Jobs across the board
Jobs are across the board – in sales, development, engineering, clinical, operations, marketing, says Intersouth spokesperson Suzanne Cantando.
We think a broader survey of the Southeast and in fact the nation would reveal that venture-backed startups and those bootstrapped, as well, are the real engine of job creation, not all these huge companies the government keeps pumping money into.
Intersouth Partners Dennis Dougherty
Intersouth’s Dennis Dougherty points out that ““High-growth startups aren’t using the money they’ve raised to acquire real estate or build new buildings – they’re using it to hire people. If you take the amount of venture capital raised each quarter and multiply it by 80 percent, that’s probably about the amount of money that will be going to paying for jobs.”
Noro-Moseley’s Mike Elliott says all of its portfolio companies have positions open. “If we were an investor during the downturn, they were stripped to minimal staffs,” he says, “So now they’re beginning to put people in both C level and middle management positions.”
Eliot says that while he feels “We’re definitely coming out of the recession, I don’t think we’re going to come roaring out. We have to remain cautious.”
He adds, however, “That we would like to show the folks in DC that it’s the young companies that really create the fuel for growth.”
Southeast Venture Conference, February 29 – March 1, 2012 at the Ritz Carlton in Tysons Corner, VA – Where Smart Money Meets Smart People.
www.seventure.org
© 2010, TechJournal South. All rights reserved.
Tags: Atlanta, Baltimore, Dennis Dougherty, Durham, economic recovery, Intersouth Partners, Jason Caplain, jobs, Mike Eliot, Morrisville, NC, Noro Moseley Partners, Raleigh, RTP, Southern Capitol Ventures, startup company jobs
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