The performance of composite materials and structures at high-velocity impacts reaching or exceeding their ballistic limit is crucial for assessing their strength and safety in aerospace applications. In this highly transient impact regime, composite materials are subject to multiple complex failure modes and their properties are susceptible to strain rate effects, making very challenging the simulation and understanding of their ballistic impact performance. This study presents: (1) a multi-scale computational framework for predicting the ballistic limit of composite plates, and (2) experimental results of ballistic impacts on carbon/epoxy plates. The multi-scale model uses a micromechanical approach to account for strain-rate dependency, to calculate micro-stress effects on the matrix and fiber properties, and to predict their coupled effect on effective composite properties. Intralaminar damage initiation and evolution are identified using the maximum stress criterion, but the degradation of properties in the matrix and fibers is predicted with the micromechanics model. Mixed-mode damage laws are implemented to simulate delamination, which guarantees accurate and reliable results. The proposed multi-scale model has been implemented and integrated into ABAQUS/Explicit (VUMAT). Experimental results from high-velocity steel ball impacts on woven IM-65 Carbon/RTM6 epoxy composite plates conducted on a high-speed impact test bench are also presented including non-destructive evaluation of the types of damage and failure. The experimental results are finally used to validate the model predictions for the ballistic limit and the predicted types of damage and failure.