Carolina Angel Network

What is Carolina Angel Network?

The Carolina Angel Network (CAN) is an angel network that facilitates connections between UNC alumni, donors, and friends, and early-stage companies associated with the University of North Carolina. With a commitment to filling the funding gap for startups, CAN operates by allowing its accredited members to engage in the investment process on a selective basis.

They provide a platform where members receive opportunities to invest in 4 to 6 new companies each year, reviewing comprehensive investment documents and due diligence memos. Members have the autonomy to select which deals to pursue and are offered the chance to attend investment meetings to evaluate founders and business plans collectively. After reviewing the term sheets and legal documents, members make individual decisions to invest.

Additionally, CAN organizes a thorough due diligence process conducted by their in-house team to ensure the best deals are presented. On the entrepreneur side, UNC-affiliated startup founders submit investment documents and business plans, present to CAN's senior team and screening committee, and participate in the due diligence process. Post-investment, entrepreneurs report their progress quarterly.

The network prides itself on building the future by connecting and making a difference through its members' engagement with promising UNC startups. CAN emphasizes the importance of aiding early-stage companies that demonstrate early revenue or customer engagement, thereby actively contributing to the entrepreneurial ecosystem associated with the University of North Carolina.