Tech Coast Angels Companies Receive More Than 1B
30 TCA Portfolio Companies Secure More Than 75M in 2008
LOS ANGELES – February 23, 2009 – Tech Coast Angels (TCA), the largest angel network in the United States, today announced that more than $1B has been invested in TCA-funded companies since the group’s inception in 1997. TCA members have personally invested more than $99M and venture capital firms and other private equity investors have contributed more than $960M. The number of companies financed by Tech Coast Angels members was up last year over 2007. In 2008, companies received more than $75M in 15 first-time financings and 16 follow-on rounds from TCA members and affiliated investors, compared with 12 first-time and 14 follow-on rounds completed in 2007.
“TCA is still actively investing, despite the downturn in the economy. Our membership continues to be the largest single source of first-time deal financings for early stage companies in Southern California,” said Ralph Mayer, newly elected chairman of TCA. “2008 was a banner year for TCA. We reached the $1 billion mark and increased the number of companies funded year-over-year, which further demonstrates our commitment to the Southern California ecosystem.”
Companies receiving 2008 first-time investments or follow-on rounds from TCA and its network of venture capital partners include Agilenano, AIRSIS, Amplyx Pharmaceuticals, Axiotron, Bikestation, BrandAmerica, BrightQube, CardioCreate, CaseStack, Clupedia, Cognition, Cyber-Rain, Dayak, Edgeware Analytics, eGuardian, EZ-Assure, H2Scan, Make It Work, MicroPower Appliance, Mobile-XL, MojoPages, MyShape, Opposing Views, Santrio, SodaHead, TherMark, Trius Therapeutics, WiSpry, Wise Window and Zubican.
“History has shown that downturns in the economy are often the best time to start a new company, which is one of the reasons TCA members are still actively investing,” said Al Schneider, president of TCA’s Los Angeles network. “Since our members provide entrepreneurs with many more benefits than just capital, funding from TCA’s members is even more valuable to companies in these challenging economic times.”
The Tech Coast Angels Los Angeles network is hosting its fourth annual Fast Pitch Competition and networking event on February 24 from 5-9 p.m. at UCLA Anderson School of Management. Fast Pitch is a competition among 12 carefully selected entrepreneurs who will each deliver a 90-second company pitch to a panel of investors and other members of Southern California's entrepreneurial community. For more information, visit www.pitchtheangels.com.
About Tech Coast Angels
Tech Coast Angels, www.techcoastangels.com, the largest angel investor network in the United States, provides funding and guidance to more early-stage, high-growth companies in Southern California than any other investment group. Since its inception in 1997, TCA members have focused on building valuable companies, personally invested more than $99M, and helped portfolio companies attract more than $960M in additional capital, mostly from venture capital firms. TCA members give companies more than just capital; they also provide counsel, mentoring and access to an extensive network of potential investors, customers, strategic partners and management talent. TCA has more than 300 members, including its venture capital affiliates, in five networks in Los Angeles, Orange County, San Diego, Westlake/Santa Barbara and the Inland Empire.