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Angel Investor (Group)
piedmontangelnetwork.com

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Investments

56

Portfolio Exits

8

Funds

3

About 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.

Piedmont Angel Network Headquarter Location

2007 Yanceyville Street

Greensboro, North Carolina, 27405,

United States

336.235.0941

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Latest Piedmont Angel Network News

Guerrilla RF closes on $2M funding round

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.

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Piedmont Angel Network Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

5/18/2015

Series B

Guerrilla RF

$2M

No

Charlotte Angel Fund, 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

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$99M

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10

8/1/2013

Series A

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$99M

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10

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

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Amount

$2M

$0.5M

$0.82M

$99M

$99M

New?

No

No

Yes

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Co-Investors

Charlotte Angel Fund, and Undisclosed Angel Investors

Sources

2

2

1

10

10

Piedmont Angel Network Portfolio Exits

8 Portfolio Exits

Piedmont Angel Network has 8 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

00/00/0000

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$991

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10

00/00/0000

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10

00/00/0000

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10

00/00/0000

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10

Date

10/28/2021

00/00/0000

00/00/0000

00/00/0000

00/00/0000

Exit

Reverse Merger

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Companies

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Valuation

$991

Acquirer

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Sources

3

10

10

10

10

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

$2M

1

12/31/2007

Piedmont Angel Network Two LLC

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$99M

10

2/15/2004

Piedmont Angel Network

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$99M

10

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

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Status

Amount

$2M

$99M

$99M

Sources

1

10

10

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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