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Charlotte Fund is a venture capital firm based in Charlotte, North Carolina, founded in 2022 to bolster the local technology ecosystem. The fund operates as a collaboration between LaunchCLT, a nonprofit dedicated to supporting startups, and the city's most active venture capitalists. This partnership allows Charlotte Fund to leverage local expertise and resources effectively.
The fund employs a barbell strategy, allocating 80% of its capital to lower-risk later-stage investments, typically targeting companies with valuations exceeding $100 million. The remaining 20% is dedicated to seeding promising early-stage companies within the Charlotte Metro area. This approach aims to accelerate startup capital investment and enhance the success of technology companies in the region.
Charlotte Fund's first fund was launched in 2022 as a proof-of-concept, leading to the formation of a larger Fund II, which closed in October 2024. The firm currently manages over 35 portfolio companies and is committed to reinvesting a portion of its carried interest back into the community to support future startups.
Charlotte Fund primarily invests in technology companies at the pre-seed and later stages, with a strong emphasis on the Charlotte Metro area for early-stage investments. The fund's investment strategy includes a diverse range of sectors, including artificial intelligence, fintech, energy, and healthcare. This focus allows Charlotte Fund to tap into the growing demand for innovative solutions across these industries.
The firm seeks to accelerate startup capital investment and success within the Charlotte market by identifying high-quality technology companies. Charlotte Fund's investment criteria include a preference for founders who demonstrate strong leadership capabilities and a clear vision for their companies. The fund's deal structure typically involves equity investments, and it often collaborates with other investors to co-invest in promising opportunities.
Charlotte Fund's geographic focus extends beyond the Charlotte Metro area for later-stage investments, targeting the broader Carolinas region. This dual approach enables the fund to support both emerging startups and established companies looking to scale.
Charlotte Fund's portfolio consists of over 35 companies across various sectors, showcasing its commitment to supporting diverse technology ventures. Notable investments include:
This diverse portfolio reflects Charlotte Fund's strategy of investing in high-potential technology companies that are positioned to thrive in their respective markets.
Mark McDowell — Partner. Mark has extensive experience in venture capital and has been instrumental in shaping Charlotte Fund's investment strategy. He has a background in technology investments and has worked with various startups in the region.
Don Rainey — Partner. Don brings a wealth of knowledge in venture capital and has a strong track record of successful investments. His expertise lies in identifying high-potential technology companies and guiding them through the growth process.
Taylor Davis — Associate / Entrepreneur in Residence. Taylor has a background in entrepreneurship and provides valuable insights to portfolio companies. His role includes mentoring founders and assisting with operational challenges.
To pitch Charlotte Fund, startups should use the preferred channel available on their website at charlottefund.com. The pitch deck should include a comprehensive overview of the business, including market analysis, financial projections, and the team’s background. Startups are encouraged to provide clear information about their funding needs and how the investment will be utilized.
Response times may vary, but founders can expect to hear back within a few weeks after submitting their pitch. Warm introductions are preferred, as they can enhance the likelihood of receiving a favorable response.
In October 2024, Charlotte Fund successfully closed Fund II, which is 50% larger than Fund I. This expansion reflects the fund's early success and the positive trajectory of its portfolio companies. The firm continues to focus on enhancing the technology landscape in Charlotte through its investments.
Charlotte Fund has been actively promoting its mission to support the local technology ecosystem, although no recent blog activity or specific updates have been detected on their website. The firm remains committed to investing in high-quality technology companies and fostering growth within the Charlotte market.
What are Charlotte Fund's investment criteria?
Charlotte Fund invests in technology companies at the pre-seed and later stages, focusing on sectors such as AI, fintech, energy, and healthcare. The fund looks for strong leadership and a clear vision from founders.
How can startups apply or pitch to Charlotte Fund?
Startups can pitch to Charlotte Fund through their website at charlottefund.com. It is recommended to include a detailed business plan and financial projections in the pitch deck.
What makes Charlotte Fund different from other venture capital firms?
Charlotte Fund employs a barbell strategy, allocating 80% of its capital to lower-risk later-stage investments while seeding early-stage companies. This unique approach allows the fund to support a wide range of startups.
What is the geographic scope of Charlotte Fund's investments?
The fund primarily focuses on the Charlotte Metro area for pre-seed and seed investments, while later-stage investments target the broader Carolinas region.
What type of post-investment involvement does Charlotte Fund have?
Charlotte Fund provides strategic guidance and access to a robust network of local and regional resources to its portfolio companies, helping them grow and succeed.
What is the typical check size for investments?
While specific check sizes are not publicly disclosed, Charlotte Fund invests in both early-stage and later-stage companies, indicating a range of investment amounts depending on the stage and needs of the startup.
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