Charlotte Angel Fund raising third fund that could reach $6 million

Charlotte Inno reports (subscription required) that the Charlotte Angel Fund (CAF) has launched its third fund with an initial capital infusion of $780,000 from 17 investors and a goal of raising as much as $6 million. There’s a minimum commitment of $30,000.

CAF describes itself as “a large group of experienced, committed investors in early stage companies in a wide range of industries” and “one of North Carolina’s most active angel investor groups” that “represents Charlotte’s largest source of capital for high aspiration start-ups.” Through the first two funds, CAF has invested in 27 companies in the Carolinas. The average investments is between $100,000 and $250,000 as part of a $500,000 to $2 million capital round.

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