Top 5 Angel Investors and VC Firms in Charlotte

Charlotte, aka Queen City, is attracting many tech companies because of its growing economy. The top angel investors and VC firms in Charlotte are Charlotte Angel Fund, VentureSouth Charlotte, CFV Ventures, TFX Capital, and Defiance Ventures.

Angel Match currently lists 300+ investors based in Charlotte and 900+ across North Carolina, so founders in the Queen City have more options than the five below. These are simply the local names that come up again and again.

Below is the list of top 5 angel investors and VC firms in Charlotte and some tips on how to pitch your startup to these investors.

Top 5 Angel Investors and VC Firms in Charlotte

Charlotte Angel Fund

• Website: www.cltangelfund.com

• Investor Type: Angel Group

• Investment Interests: Scalable early-stage startups, including software, tech, and healthcare.

Charlotte Angel Fund is a member-managed angel group and the most prominent early-stage investment group in Charlotte. It started in December 2013 with 18 investors and $430,000 in capital, made its first investment in December 2014, and opened its third fund, CAF III, in March 2022.

The fund typically invests around $50,000 per company, and individual members can invest additional capital on a deal by deal basis. Because the members make investment decisions together, pitching to the group puts you in front of dozens of accredited investors at once, many of whom focus on seed-stage startups.

Getting in front of them is refreshingly simple. Founders can submit their startup directly through the fund's website or email the administrator, Greg Brown. Even when the group passes on a deal, individual members sometimes invest on their own or make introductions.

The fund is also active alongside local VCs. For example, it participated in the $600,000 seed round of Bundle, which CFV Ventures led.

VentureSouth Charlotte

• Website: www.venturesouth.vc

• Investor Type: Angel Network

• Investment Interests: Early-stage companies across the Carolinas and the Southeast.

VentureSouth is one of the largest angel networks in the Southeast. It grew out of the Upstate Carolina Angel Network, founded in Greenville, South Carolina in 2008, and launched its Charlotte affiliate in 2016.

The network has more than 300 members who have collectively invested over $50 million in more than 70 companies across the region. VentureSouth typically invests in rounds of $250,000 to $1 million, which makes it a good fit for startups that have outgrown a single angel check but aren't ready for a full venture round.

Unlike a committed-capital fund, VentureSouth runs on a network model. Members see potential investments each month, and each investor decides individually whether to put money into a deal. A full-time team manages screening and due diligence, so founders who pitch get a professional process rather than an informal dinner-club vote.

CFV Ventures

• Website: www.fintechvc.us

• Investor Type: Venture Capital Firm

• Investment Interests: Fintech and SaaS.

CFV Ventures is a seed-stage fintech fund based in Charlotte. The firm was founded in 2017 by Dan Roselli and Nathaniel Clarkson and has invested in more than 55 companies, most related to fintech.

CFV Ventures works closely with the Charlotte fintech ecosystem its founders helped build, including the RevTech Labs accelerator (formerly Queen City Fintech). Startups affiliated with that accelerator program have historically been the firm's primary pipeline, so going through the program is one of the best ways to get on its radar.

The firm's checks have typically been between $100,000 and $250,000 at the seed stage. Notable portfolio activity includes leading the $600,000 seed round of Bundle alongside Charlotte Angel Fund, and exits such as Upswot and Tookitaki.

TFX Capital

• Website:tfxcap.com

• Investor Type: Venture Capital Firm

• Investment Interests: B2B startups led by military veterans and former national security professionals.

TFX Capital is also among the well-known VC firms in Charlotte. The firm was founded in 2015 by Brandon Shelton, a U.S. Army veteran, and it is one of the few early-stage venture firms in the country dedicated to backing founders who have served in the military or national security community.

The investors at TFX Capital fund B2B startups that can beat the market competition and stand out with unique ideas, with the defining criterion being founders with a military or national security background.

Aside from its funding, TFX Capital hosts the annual Charlotte Veteran Startup Showcase, where veteran founders compete for $50,000 in cash prizes and get in front of investors and enterprise executives, even if they aren't portfolio companies.

The investment range of TFX Capital isn't publicly disclosed. Some of their investments are:

• ProctorFree: ProctorFree is a test proctoring service that utilizes facial detection software for authenticating proctored test sessions.

• ThinkOrbital: ThinkOrbital is a space technology startup whose seed round was led by TFX Capital.

• SkyFi: SkyFi is a satellite and overhead imagery platform in the TFX portfolio.

• Spiffy: Spiffy is an on-demand car care startup that TFX invested in and has since exited.
  

Defiance Ventures

• Website: defianceventures.com

• Investor Type: Venture Capital Firm / Venture Builder

• Investment Interests: B2B, Enterprise Technology.

Defiance Ventures is a venture builder that funds B2B enterprise technology startups. The firm was founded in 2020 by John Espey and Tareq Amin and has made more than 15 investments.

What makes Defiance different from a traditional VC is that it combines capital with hands-on operational help, including marketing, branding, sales, application development, and cloud architecture. Startups that have a great pitch deck always have a higher chance of getting funded.

The firm specializes in companies that are beyond the MVP stage but struggling to find growth, so it is a strong option for Charlotte founders who need more than just a check.

Some of the companies Defiance Ventures or its founders have invested in are:

• Lucid Drone Technologies: Lucid Drone Technologies is a robotics company specializing in exterior spray drones.

• Rent Ready: Rent Ready is a services platform that uses a proprietary logistics platform to connect communities to skilled professionals.

• Rabbu: Rabbu is a short-term rental management company based in Charlotte.

• 2ULaundry: 2ULaundry is a pick-up and drop-off laundry service.

Wrap Up

With that said, the list of top angel investors and VC firms in Charlotte has come to an end.

Summing up, always remember that investors always fund startups that can generate profits. If you aren't showing confidence in your business idea, no investor would want to fund it and take such a risk.

Pitch to related investors, be patient, always work on your pitch deck, and most importantly, secure a warm introduction to angel investors.

Good Luck!

Frequently Asked Questions

How many angel investors are there in Charlotte?

Angel Match currently lists 300+ investors based in Charlotte. That includes individual angel investors, organized groups like Charlotte Angel Fund and VentureSouth Charlotte, and seed-stage venture funds. Across all of North Carolina, the database lists 900+ investors.

How much do Charlotte angel investors typically invest?

Charlotte Angel Fund typically invests around $50,000 per company, with members free to add more individually. VentureSouth targets rounds of $250,000 to $1 million. Seed VC checks in the market, like CFV Ventures' historical checks, have typically run $100,000 to $250,000.

Which industries do Charlotte investors favor?

Fintech is Charlotte's biggest theme, supported by the RevTech Labs accelerator (formerly Queen City Fintech) and funds like CFV Ventures. B2B enterprise software gets strong attention from Defiance Ventures, and TFX Capital backs B2B startups led by military veterans. Healthcare and SaaS also appear frequently in local portfolios.

How do I get in front of Charlotte angel investors?

Charlotte Angel Fund accepts submissions directly through its website or by email to its administrator. For VC firms like CFV Ventures, going through the RevTech Labs accelerator is the most reliable path. In every case, a warm introduction from a founder or fellow investor dramatically improves your odds.