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TECH COAST ANGELS OPENS ITS NEW ANGEL FUND; UNIQUE STRUCTURE ALLOWS FASTER FUNDING FOR ENTREPRENEURS

IRVINE, Calif., February 14, 2011Tech Coast Angels (TCA),the nation’s largest angel investment network, today announced the completion of the first closing of its Angel Capital Entrepreneurial(ACE) Fund 1. The Fund has begun investing in early-stage, game-changing companies, and entrepreneurs are encouraged to submit plans to TCA for funding consideration. One of the purposes of the Fund, according to Dave Berkus, Chairman Emeritus of TCA, is that it “gives us more fire power and the ability to move quickly on what we evaluate as excellent business opportunities. In fact, the Fund’s first investment in Vokle, a unique online event platform, was completed in seven days.”

The efficient structure of the ACE Fund is what makes possible the rapid decision-making. Management of the ACE1 Fund is overseen by an elected Board of Trustees and potential investments are brought before the membership by an elected five-member Deal Committee. This structure assures that all members of the Fund benefit from the investment experience of the committee, while still having the opportunity to vote on selections. This structure is original to the Fund and has been operating smoothly since its inception, according to Berkus. The Deal Committee meets at least twice a month to review all potential deals that have been presented to TCA. If a proposal appears exceptionally promising, the committee can bring it to vote that day and the funding can be completed in a week.

For consideration by the ACE Fund, entrepreneurs simply go through the standard process of presenting an idea to TCA. This can be done by going to the TCA website (www.techcoastangels.com) and following the steps. The ACE Fund will invest in entrepreneurial enterprises selected for their game-changing ideas, strength of management and market growth potential. Invested companies are mentored by TCA members who participate in day-to-day activities, giving the companies a significant leg-up in terms of expertise and management experience.