Charlottesville Angel Network

What is Charlottesville Angel Network?

The Charlottesville Angel Network (CAN) is an angel network focused on fostering a thriving entrepreneurial culture primarily in Charlottesville but also beyond. Known for its significant activity in the angel investment landscape, CAN aims to contribute to an environment where entrepreneurs and businesses can grow, prosper, and benefit the community.

CAN's approach includes educating investors and entrepreneurs, cultivating and attracting innovative business ideas, and ensuring the creation of new jobs. Highly regarded for its investment momentum, CAN has been recognized by the 2021 HALO Report as the 9th most active angel group in the U.S. and the #1 most active group in the Southeast region. Their members meet monthly to invest collectively in early-stage companies, raising capital on a deal-by-deal basis and often forming sole-purpose LLCs to serve as investment vehicles.

While they have a strong inclination toward Virginia-based companies, with more than half of their investments in the region, they remain open to startups from any location. CAN's investment interest spans various industries, including SAAS, digital healthcare, biotech, consumer products, clean energy, and Ed Tech. They typically participate in seed, angel, and friends & family funding rounds, usually investing between $100K and $300K, and often join forces with co-investors in later financing stages.

Their deal sourcing process involves a screening committee that reviews monthly applications, selecting three companies to present to the members for potential investment. CAN utilizes Gust.com for the application and review process, and they hold a strong emphasis on fostering robust relationships with their investees.

Additionally, they offer resources to entrepreneurs and potential members, including links to industry reports, pitch deck guides, and educational materials on angel investing. All investments and memberships are contingent upon meeting specific accredited investor criteria, ensuring their network comprises individuals with the necessary expertise and financial capabilities.