We partner with Tar Heels that are building the future 


All applications to the Carolina Angel Network are screened according to their progress to date. Criteria do vary by type of industry.

Non Medical Created with Sketch.

Non-Life Science

Revenues – Beta customer(s) for several months, greater than $50K (preferable)
Product – working version 1.0 product, not necessarily fully featured
Team – CEO with prior management/entrepreneurial experience (preferable)

IP – license agreements completed and/or patents assigned to company
Financials – revenue assumptions based on customer sales evidence

Medical Device Created with Sketch.

Life Science – Med Devices

Product – working prototype, fully functional
FDA – 510K approved (preferable)
Team – Dedicated CEO with Business Background, Senior Clinical Affairs officer
Market – clear understanding of customers and market and product rollout plan
IP – Issued IP or received office action on IP

Created with Sketch.

Life Science – Diagnostics

Product - results using human samples
Legal - Validated assumptions for reimbursement and FDA approval
IP - Issued IP or received office action on IP
Team - Diagnostic industry expertise > 10 years from team
Market Validation – positive, on-going discussions with partners


Investment Criteria

Fundraising. Raising seed or series A equity capital of $100,000 to $3 million
or syndicating later-stage equity financing with an existing institutional investor.

UNC Affiliation. Company must have a founder or executive who is a UNC alumnus, faculty, staff, student, or parent or have licensed a technology from the university.

Geography. The company must be headquartered in the United States.