IRVINE, Calif., February 22, 2011 Tech Coast Angels (TCA), the nations largest angel investment network, today announced it funded 31 investments, including 12 new deals and 19 follow-on investments in a broad range of start-up businesses, demonstrating its angel investment leadership. TCA raised over $40 million of total investment for its entrepreneurial companies, including over $6 million through direct TCA investment and approximately $33.9 million through other sources of venture and angel capital. The total number of investments is up significantly from 2009 when 24 deals were completed. In addition, 2010 marked a year of profitable exits for TCA portfolio companies, including an IPO for Green Dot Corporation (NYSE: GDOT) that yielded over 100x return for early investors, the acquisition of Language Weaver Inc. by SDL for $42.5M, and an IPO for Trius Therapeutics (NASDAQ: TSRX).
“This past year was a dynamic time in our history. Coming out of an economic recession, we turned the tide and invested in more innovative, game-changing entrepreneurial companies and experienced several profitable exits. This is the result of our commitment to making the angel funding process faster, easier and more accessible to entrepreneurs to generate more investment. Weve streamlined the process and added new events and opportunities for entrepreneurs to connect with our members, said Mike Napoli, Chairman, Tech Coast Angels. “The entrepreneurial community in Southern California is growing dramatically and Tech Coast Angels is committed to identifying the brightest, most innovative new companies and fostering their growth through both capital investment and mentoring leadership. Already, 2011 is shaping up to continue on this upward trend.
This years investment portfolio represented companies in a wide number of growth industries including technology, biotech and pharmaceutical, social media, financial services, consumer products, and green technologies, among others. The companies funded by Tech Coast Angels in 2010 included: Cyber-Rain; Benchmark Revenue; Allylix; Outside Labs; Vigilistics; H2Scan; Mobile XL; Continental Windpower; Amplyx; OlFactor; Vokle; Micropower Technologies; HitFix; Ranker; CardioCreate; MyShape; Bikestation; MasherMedia; Brand America; Intrastage; YouMail; Glassbeam; LaughStub; Ondax; Cosnet; Solulink; and Cognition Therapeutics.
TechCoastAngels Demonstrate Angel Investment Leadership with 7 New Deals and 17 Follow-On Deals in 2009
Irvine, Calif.,March 1, 2010– Despite the dire economy and lack of available capital (or maybe because of it), Tech Coast Angels(TCA), the largest angel investmentnetwork in the U.S., completed seven rounds of new investmentdeals and 17 follow-on deals in 2009, raising $4.7 million through direct TCA investments and an additional $57 million through other sources of venture capitaland angel capitalfor the network’s entrepreneurial companies. According to Richard Sudek, TCA chairman, “We want entrepreneurs to know that there is still a vibrant investment environment in Southern California. We take our responsibility to foster and develop new enterprises very seriously.”
While the total investment money available in 2009 declined from the previous year and fewer new deals were completed, 2009 actually saw an increase in the number of follow-on investments. Sudek said, “Clearly our members feel deeply committed to our invested companies and believe in their growth. We not only continue to raise money for them, we also provide day-to-day operating assistance and mentoring that company executives tell us often make the biggest difference in their success.”
A number of the invested companies in 2009 were in the high technology arena, a TCA focus, however many other markets were represented. Young companies in entertainment, industrial applications, retail, communications, healthcare, biotechnology and even home improvement received investment dollars.
“We already see 2010 on an upward trend,” stated Sudek. “The new programs we’ve instituted like the Entrepreneur Mixersand SeedTrackwill give us the chance to help companies at even earlier stages. As 2009 demonstrates, that early mentoring generally leads to success.”
Some of the companies who received funding by Tech Coast Angels in 2009 included: WiSpry; Paradigm Select Assets; MicroPower Technologies; Outside Labs; Mobile XL; Cyber-Rain; Loop’d Network; Vigilistics; Numira; YouMail; Amplyx Pharmaceuticals; Benchmark Revenue; Masher Media; H2scan; MyShape; LeisureLink; PharmaSecure; ElephantDrive; and UsedCardboardBoxes.
About Tech Coast Angels
TechCoast Angels, www.techcoastangels.com, is the largest angel investor group in the United States. Its members provide funding and guidance to more early-stage, high-growth companies in Southern California than any other investment group. TCA members invest in companies in a wide range of industries, including the life sciences, biotech, IT, services, retail, Internet, financial, software, media, consumer products and tech startups. 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 250 members, including its venture capital affiliates, in five networks in Los Angeles, Orange County, San Diego, Westlake/Santa Barbara and the Inland Empire. More information on investment with Tech Coast Angels can be found at www.techcoastangels.com, www.facebook.com/techcoastangelsor twitter.com/techcoastangels.
30 TCA Portfolio Companies Secure More Than 75M in 2008
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.
About Tech Coast Angels