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Charlottesville Angel Network

Established in 2004, Charleston Angel Partners is an accomplished boutique angel group consisting of diverse members supporting the bold founder and their journey.

Charlottesville, VA, USA

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Description

The Charlottesville Angel Network (CAN) is a growing group of accredited investors and family offices based in Charlottesville, Virginia, that invests collectively in early-stage, high-growth startups. 
  • Seed, Angel, and Friends & Family: This is the core focus for new investments.
  • Series A: They frequently participate in or partner with co-investors for Series A and occasionally Series B rounds.
  • Company Size: They focus on promising startups typically raising less than $5 million in total.
  • Method: Founders apply through the Charlottesville Angel Network application portal, hosted on the Gust platform.
  • Requirements: Applicants must create a comprehensive company profile on Gust, which is then used by the network for review.
  • Pitch Practice: CAN partners with the Virginia Small Business Development Center to offer "Pitch Preview," a no-cost opportunity for founders to receive actionable feedback from angel investors before formally seeking funding. 
 

Eligibility

  • Sector: Industry-agnostic, with strong historical activity in SaaS, Digital Healthcare, Biotech, Consumer Products, Clean Energy, and EdTech.
  • Geography: While they consider startups nationwide, they have a "soft spot" for Virginia-based companies, which represent over half of their portfolio.
  • Management: They prioritize passionate management teams with innovations that uniquely solve customer or market problems. 

Process

The network follows a standardized member-led vetting cycle:

  1. Digital Intake: Founders submit their company details via Gust for initial screening by the leadership team.
  2. Screening Committee: A committee of members meets monthly to review applications and selects approximately three companies to present to the full membership each month.
  3. Member Pitch: Selected finalists present their business at monthly dinner meetings held in Charlottesville.
  4. Due Diligence: If members express sufficient interest, a collaborative due diligence team is formed to conduct in-depth vetting.
  5. Investment: Members make independent decisions to commit capital, which is aggregated into a single sole-purpose LLC that writes a group check to the company. 

What an Applicant can Obtain

  1. Direct Capital: Access to group-funded investment from high-net-worth executives, entrepreneurs, and scientists.
  2. Mentorship: Strategic guidance and operational expertise from a diverse membership base.
  3. Network Access: Direct connections to professional networks and future follow-on funding sources.
  4. Educational Initiatives: Bi-annual "Getting Deals Done" training on due diligence for both investors and entrepreneurs.