Investments
56Portfolio Exits
7Funds
3About Piedmont Angel Network
The Piedmont Angel Network is a member-managed angel venture investing capital fund primarily focused on the Piedmont area of North Carolina and secondarily in other regions of NC. The fund may also selectively evaluate qualified investment opportunities outside of NC - but the focus is primarily on the Piedmont and other NC region investments. PAN likes to invest in businesses that are addressing large, painful problems. These businesses do not have to be technology based as long as the problems are sizeable and the markets large. Large markets often mean businesses with a national or international scope with at least $50 to $100 million in annual revenues. The first investment from the fund is between $250,000 and $350,000 with possible add-ons from individual PAN members or other investors. Add-on amounts are added to the PAN fund amount and portfolio companies have to deal with one investor and one check. PAN will syndicate with other angels, investment networks or venture firms to raise the remaining balance of the round. PAN will participate in funding rounds as a lead or follow-on investor. PAN investors would like to get their money back in three to five years. More than likely, the company will be sold rather than go through an Initial Public Offering (IPO). PAN does not want to get paid dividends or interest, but would like to get back 10-30 times its original investment.

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Latest Piedmont Angel Network News
May 18, 2015
See All Homes of the Day The Charlotte Angel Fund and the Piedmont Angel Network also participated in the funding, along with several other individual investors. Ryan Pratt said the $2 million is crucial for the company’s growth in the semiconductor industry, where expensive specialized tools and lab equipment are needed for product development. "The company really is not generating revenue yet because we are new; it takes years to really begin generating revenue in the semiconductor business," Pratt said. At the moment, Guerrilla RF is “burning cash because we don’t have revenue coming in; this cash buys us a lot more time before we begin taking in revenue," he said. He said the money will allow Guerrilla RF to begin manufacturing several products this summer. The company plans to begin production in July on a low-noise amplifier used in bay stations and cell towers. Production on a low-noise amplifier for WiFi access points will start later in the summer. Production will be carried out in Taiwan, and packaging will take place in either Malaysia or the Philippines Pratt said the company's last round of funding for $500,000 put Guerrilla RF in position to manufacture a couple of products this summer, but the $2 million means "now we can take easily 10 more products into mass production.” Target markets for Guerrilla RF's technology include infrastructure equipment manufacturers such as Ericsson and Cisco. Pratt added that Guerrilla RF is creating products that aren't as complicated or expensive to develop as the ones developed by larger semiconductor businesses. “We’re developing products that are single little blocks, whereas some other semiconductor companies are developing dozens of blocks put together on one chip," he said. Industries
Piedmont Angel Network Investments
56 Investments
Piedmont Angel Network has made 56 investments. Their latest investment was in Guerrilla RF as part of their Series B on May 5, 2015.

Piedmont Angel Network Investments Activity

Date | Round | Company | Amount | New? | Co-Investors | Sources |
---|---|---|---|---|---|---|
5/18/2015 | Series B | Guerrilla RF | $2M | No | Charlotte Angel Fund, Piedmont Angel Network, and Undisclosed Angel Investors | 2 |
2/27/2015 | Series A - II | Guerrilla RF | $0.5M | No | 2 | |
6/30/2014 | Series A | Guerrilla RF | $0.82M | Yes | 1 | |
12/1/2013 | Series B | |||||
8/1/2013 | Series A |
Date | 5/18/2015 | 2/27/2015 | 6/30/2014 | 12/1/2013 | 8/1/2013 |
---|---|---|---|---|---|
Round | Series B | Series A - II | Series A | Series B | Series A |
Company | Guerrilla RF | Guerrilla RF | Guerrilla RF | ||
Amount | $2M | $0.5M | $0.82M | ||
New? | No | No | Yes | ||
Co-Investors | Charlotte Angel Fund, Piedmont Angel Network, and Undisclosed Angel Investors | ||||
Sources | 2 | 2 | 1 |
Piedmont Angel Network Portfolio Exits
7 Portfolio Exits
Piedmont Angel Network has 7 portfolio exits. Their latest portfolio exit was Guerrilla RF on October 28, 2021.
Date | Exit | Companies | Valuation Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model. | Acquirer | Sources |
---|---|---|---|---|---|
10/28/2021 | Reverse Merger | 3 | |||
Date | 10/28/2021 | ||||
---|---|---|---|---|---|
Exit | Reverse Merger | ||||
Companies | |||||
Valuation | |||||
Acquirer | |||||
Sources | 3 |
Piedmont Angel Network Fund History
3 Fund Histories
Piedmont Angel Network has 3 funds, including Piedmont Angel Network Three LLC.
Closing Date | Fund | Fund Type | Status | Amount | Sources |
---|---|---|---|---|---|
7/1/2013 | Piedmont Angel Network Three LLC | Early-Stage Venture Capital | Closed | $2M | 1 |
12/31/2007 | Piedmont Angel Network Two LLC | ||||
2/15/2004 | Piedmont Angel Network |
Closing Date | 7/1/2013 | 12/31/2007 | 2/15/2004 |
---|---|---|---|
Fund | Piedmont Angel Network Three LLC | Piedmont Angel Network Two LLC | Piedmont Angel Network |
Fund Type | Early-Stage Venture Capital | ||
Status | Closed | ||
Amount | $2M | ||
Sources | 1 |
Piedmont Angel Network Team
1 Team Member
Piedmont Angel Network has 1 team member, including former General Partner, Tom Sloan.
Name | Work History | Title | Status |
---|---|---|---|
Tom Sloan | General Partner | Former |
Name | Tom Sloan |
---|---|
Work History | |
Title | General Partner |
Status | Former |
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