Angel Fund Options
CAF is a new committed-capital, member-managed angel fund located in Charlotte, North Carolina. Charlton Owensby is currently heading the organization efforts and has closed its first round. CAF concentrates on early-stage to expansion-stage high-growth technology and life science deals.
EGF has raised two committed-capital, member-managed angel funds in Gainesville, Florida. Michael Cain is currently the fund director. EGF typically invests $200,000 per deal and requires members to commit a minimum of $50,000 in the fund.
Velum, based in Greensboro, North Carolina, is engaged in private equity and turnaround opportunities from an investment and management perspective. Members are invited to participate on a per deal basis depending on their management skills and industry knowledge. Early exit potential is preferred; however, all deals are reviewed and considered. Velum has a team of experienced exited entrepreneurs and is currently looking for additional team members.
RTA is a new angel network located in the Research Triangle Park region of North Carolina. Michael Cain and Troy Knauss currently head the organizational efforts. The group requires a yearly membership fee, but does not enforce minimum investments. The group actively conducts due diligence and syndication with other Guardant groups.
WIN is a network model, based in Wilmington, North Carolina, that promotes angel participation in new deals. The group is very well managed and allows individual investors to syndicate as a group or to make solo investments. There are typically no minimums to invest; although, the group does charge a yearly member fee.
Please note, you must be an accredited investor, as defined by the SEC, to participate in Angel funds. The SEC defines the term accredited investor in Rule 501 of Regulation D as: a bank, insurance company, registered investment company, business development company, or small business investment company; an employee benefit plan, within the meaning of the Employee Retirement Income Security Act, if a bank, insurance company, or registered investment adviser makes the investment decisions, or if the plan has total assets in excess of $5 million; a charitable organization, corporation, or partnership with assets exceeding $5 million; a director, executive officer, or general partner of the company selling the securities; a business in which all the equity owners are accredited investors; a natural person who has individual net worth, or joint net worth with the person’s spouse, that exceeds $1 million at the time of the purchase; a natural person with income exceeding $200,000 in each of the two most recent years or joint income with a spouse exceeding $300,000 for those years and a reasonable expectation of the same income level in the current year; or a trust with assets in excess of $5 million, not formed to acquire the securities offered, whose purchases a sophisticated person makes. Please do not contact these funds if you are not an accredited investor.
