Why become a member? You might think it's to make money, but for many of us it's a way to give back to the community, to help build successful companies and to participate in the satisfaction that comes from this involvement. And we hope to make money, too. Membership in the Tech Coast Angels is by invitation and is extended to individuals who share our vision and will actively contribute to our process. Each member is:
TCA operates throughout Southern California and is organized into five regional networks:
Central Coast (Santa Barbara, Ventura and San Luis Obispo Counites)
Inland Empire (Riverside and San Bernardino Counties)
Each member is affiliated with the network that covers his or her office or residence. Our members collaborate extensively within and across networks. They are welcome and encouraged to attend any TCA meeting or activity. While deals are processed by the group, TCA members invest as individuals. All members have an opportunity to participate in any member-led investment.
As a group, TCA members have typically invested in 10-20 new deals per year and an equal number of follow-on rounds. Individual members are expected to invest an average of $50,000 per year, typically two investments of $25,000. While the amount invested by TCA members can vary widely according to economic and market conditions, total investment on new and follow-on deals by TCA members in any given year have averaged $8-9 million annually.
TCA members have access to a private web-site with restricted access which ties networks, members and deal information together. The web-site contains all deal, member and TCA event information. The event calendar has event information on priavte TCA events public events that would be of interest to TCA members Members can also use the web-site to email other members and RSVP to TCA events. Members interested in a particular deal or topic may elect to receive notices as it pertains to that deal or topic.
Members develop by getting involved in due diligence teams, mentoring companies and serve on volunteer committees that run the TCA. It is critical that they contribute their domain expertise and general experience to evaluation of potential transactions. The TCA has administrative staff that is available to the membership and entreprenuers that are seeking funding.
TCA has fromal Rules of Membership and Conduct (ROMAC), which must be executed before becoming a member. The ROMAC covers rules that are designed to support a businesslike organization. For instance, members are prohibited from receiving any consideration for bringing deals to, or getting funded by TCA or its VC affiliates. Members may not solicit other TCA members for non-TCA deals and are not allowed to use the website for personal announcements not related to TCA. However, members who serve as mentors to a venture that is deemed not ready for TCA are permitted to receive founders' shares for services rendered, subject to some restrictions. A Board of Governors (BOG) oversees the activities of TCA as a whole, and the individual networks are administered either a Board of Directors or Executive Committee headed by a President, who is automatically a BOG member.