IMAF Cape Fear

What IMAF Cape Fear does

IMAF Cape Fear is a member-owned and member-managed limited liability company organized as a seed-stage angel investment fund serving accredited investors in the Cape Fear region of North Carolina. Founded in 2014 with $1M of committed capital, the fund is part of the broader Inception Micro Angel Fund (IMAF) regional network and targets emerging, high-growth companies primarily in life sciences, biotechnology, medical devices, diagnostics, therapeutics, and technology, with a preference for companies located in or near the Cape Fear region of southeastern North Carolina. Typical investments range from $50,000 to $250,000 per company, with deals exceeding $250K syndicated across the IMAF Family of Funds, and the fund typically secures a board seat or observer rights on each portfolio company.

The fund is administered by Cornerstone Advisory Partners, Inc. (co-founded by Dallas Romanowski and Rich Novak), which provides administrative infrastructure, fund executive services, business coaching, and peer advisory board support to portfolio companies. IMAF Cape Fear holds Qualified Grantee Business certification via an investment from the North Carolina Biotechnology Center, which entitles individual investors to a NC state tax credit of up to 25% of their investment amount. Deal sourcing is supported through partnerships with the NC Biotechnology Center, the SBTDC, and the UNCW Entrepreneurship Center.

As of May 2017, the fund has invested all of its committed capital and is in harvest mode, meaning it no longer considers new investments and is focused on managing its existing portfolio of companies, which includes 3Derm Inc., Groundfloor, Xanofi Inc., Kwipped Inc., Entigral Systems Inc., Next Glass Inc., and Nirvana Sciences Inc. Revenue to the administering entity is generated from administrator fees (based on committed funds and add-on investments) and carried interest on excess fund and add-on investment distributions.

Name

IMAF Cape Fear

Legal name

IMAF-Cape Fear, LLC

Website

https://imafcapefear.com

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

1–10 employees

Short description

IMAF Cape Fear is a Wilmington, NC-based, member-managed angel fund that deployed $1M of capital into early-stage life science, biotech, medical device, and technology startups. Founded in 2014 and part of the Inception Micro Angel Fund network, the fund has been in harvest mode since May 2017.

Ownership category

akta.pro rank

Product category

Angel Investment Services

NAICS

Portfolio Management and Investment Advice (523940), All Other Financial Investment Activities (52399)

SIC

Investment Advice (6282)

akta.pro primary industry

Venture Capital Fund-of-Funds (FSANAGAC)

akta.pro secondary industries

Capital Raising Advisory (Debt/Equity/Private Capital) (BPAHADAG), Private Markets Fund of Funds (PE / VC / Private Credit FoF) (FSAHAKAF)

Keywords

• Angel investment fund
• Seed stage capital
• Early stage investing
• Life science ventures
• Member-managed fund

Headquarters

HQ city

Wilmington

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Others

Revenue model

1. Carried Interest: Carried interests on excess distributions from the fund and add-on investments provide returns to the fund administrator (Cornerstone Advisory Partners, Inc.) for administrative infrastructure and fund executive services.
2. Administrative Fees: Administrator fees, based on committed funds and add-on investments, contracted annually, go towards administrative infrastructure and fund executive services provided by Cornerstone Advisory Partners, Inc.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

IMAF Cape Fear is a member-owned and member-managed angel investment LLC that pools capital from accredited investors to make seed-stage equity investments of $50,000 to $250,000 per company in early-stage, high-growth biotechnology, medical device, diagnostics, therapeutics and technology companies, primarily in the Cape Fear region of North Carolina. Members actively participate in screening, due diligence, and voting on investments, with add-on investment opportunities and board or observer seat rights allocated to portfolio companies.

Product overview

IMAF Cape Fear is a member-owned and member-managed limited liability company organized as an angel investment fund. As part of the Inception Micro Angel Fund (IMAF) network, the fund provides accredited investors an opportunity for active involvement in a diversified seed-stage capital investment process. The fund targets early stage, high quality, and high growth companies in the life science, bioscience, medical device, diagnostics, therapeutics, and technology sectors, primarily in the Cape Fear region of North Carolina. The fund's investment offering includes typical investments of $50,000 to $250,000 per portfolio company, with members able to make add-on investments individually. As of May 2017, the fund has invested all capital raised and is currently in harvest mode. The fund does not offer products or services in the traditional sense—it provides angel investment services to its members and manages investments in portfolio companies including 3Derm Inc., Groundfloor, Xanofi, Inc., Kwipped, Inc., Entigral Systems Inc., Next Glass, Inc., and Nirvana Sciences, Inc.

Differentiator

Problem solved

Functional benefit

Products and services

• IMAF Cape Fear Seed Investment Fund A member-managed, $1M seed-stage angel investment LLC that makes equity investments of $50,000 to $250,000 per company in early-stage, high-growth biotechnology, medical device, diagnostics, therapeutics and technology companies, primarily in the Cape Fear region of North Carolina. Members actively screen, conduct due diligence, and vote on investments.

Quantifiable outcome

• Up to 25% NC state tax credit on investment
• +1 more outcomes

Named customers7 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered support and core.

• Small Business & Technology Development Center (SBTDC)supportStrategic or Co-development PartnerSBTDC plays a significant role in assisting IMAF Cape Fear LLC with deal sourcing and support services for portfolio companies.
• Inception Micro Angel Fund (IMAF)coreStrategic or Co-development PartnerIMAF is the parent organization of IMAF Cape Fear. It is a member-managed seed stage angel capital fund designed to capitalize on entrepreneurial activity and venture financing in North Carolina. Investments exceeding $250K are syndicated with the IMAF Family of Funds.
• UNCW Entrepreneurship CentersupportStrategic or Co-development PartnerCornerstone Advisory Partners is a member of the UNCW Entrepreneurship Center, providing access to deal flow and student mentorship through the Cameron Executive Network.

Scale indicators4 records

Recent moves6 records

Expansion highlights3 records

Direct peers

• NC Capital Highway: Eighth member of the IMAF network of angel funds operating across North Carolina. Directly comparable member-managed seed-stage vehicle focused on North Carolina-based startups.
• IMAF Charlotte: Sibling IMAF angel fund serving the Charlotte region. Same governance, same administrator (Cornerstone), same primary life science/technology investment thesis.
• IMAF East: Sibling IMAF angel fund covering eastern North Carolina. Directly comparable in fund size, member-managed structure, and seed-stage capital deployment focus.
• IMAF RTP: Sibling IMAF network angel fund serving the Research Triangle Park region of NC. Operates the same member-managed LLC structure and co-invests via the IMAF Family of Funds, making it a directly comparable peer in geography-overlapping segments.
• IMAF Triad: Sibling IMAF angel fund targeting the Triad region of North Carolina. Shares governance, administration by Cornerstone Advisory Partners, and life science investment thesis with IMAF Cape Fear.
• IMAF West: Sibling angel fund in the Inception Micro Angel Fund (IMAF) network covering western North Carolina. Same parent organization, governance model, and $1M-class seed-stage capital deployment thesis as IMAF Cape Fear.
• IMAF Sandhills: Sibling IMAF angel fund covering the Sandhills region of NC. Co-managed by Dallas Romanowski and directly comparable in structure and investment criteria to IMAF Cape Fear.

Broad incumbents

• Council for Entrepreneurial Development (CED): North Carolina's broader life science and technology venture and entrepreneur support organization. Connects angel investors with deal flow in the same biotech/tech verticals that IMAF Cape Fear targets, and overlaps with the fund's NC Biotechnology Center and SBTDC partnerships.

Regional players

• LaunchNC: North Carolina-focused early-stage investment and entrepreneur support network. Comparable in its regional focus on NC startups and member-driven investment activity.
• Carolina Angel Network: Angel investing network serving the Carolinas with a similar member-driven, early-stage capital deployment model. Closely comparable to IMAF Cape Fear in geography, fund structure, and target portfolio stage.

Market position

Strengths3 records

Weaknesses3 records

Competitive moat4 records

Key risks5 records

Key highlights5 records

Customer concentration

• LinkedInlinkedin.com/company/imaf-cape-fear

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about IMAF Cape Fear