UNC-Chapel Hill has formally launched its Carolina Angel Network, pledging some $2 million to match angel investments made into UNC-related startups. A UNC professor, investor and entrepreneur, leads the fund.

The CAN effort launched earlier this month.

Randy Myer, a former entrepreneur, current angel investor and a Kenan-Flagler professor at UNC, will serve as managing director.

Myer has more than 30 years experience as an investor and entrepreneur. He is tasked to lead a team that will manage deal flows, from pre-screening deals and performing preliminary due diligence to connecting founders and network members.

About the fund

The Carolina Angel Investment Fund consists of philanthropic contributions that are targeted at entrepreneurship across the Carolina community. At the discretion of the Screening Committee and CAN management, the Fund will match angel member investments in each CAN investment. All investment gains are returned to the University. UNC has committed $2 million to the fund.

Source: CAN website

“The Carolina Angel Network is an amazing opportunity for its members to have a direct impact and influence on the success of UNC-Chapel Hill-affiliated startups,” said Myer. “What better way to harness the power of the entrepreneurial and investment community to vitalize our economy.”

The CAN board of directors includes both University and non-University members. Steve Lerner, an experienced entrepreneur himself who is a Carolina alumnus and former trustee, is boar chair. .

CAN aims to recruit more than 200 members over the next three years.

According to its website, to be considered for membership or funding:

  • Applicants must be accredited investors and Carolina alumni, faculty, staff, parents or donors.
  • A company must be affiliated with UNC, for-profit, meet minimum criteria and go through an extensive vetting process.

Learn more at: http://carolinaangelnetwork.com/