TCA LA Fund 3 doubles capital raised from last year’s chapter fund
LOS ANGELES – July 13, 2022 – Tech Coast Angels’ Los Angeles network (TCA LA) today announced that its chapter fund, TCA LA Fund 3, has more than doubled the assets under management from last year’s TCA LA Fund 2.
TCA LA Fund 3 has seen a staggering 50% increase in participation from last year, with over 100 TCA members, all accredited angel investors, participating in this year’s fund. Final close for the fund is expected at the end of July.
TCA LA Fund 2 invested in 14 startups, with one successful exit already realized. TCA LA plans to fund 10 -15 promising early-stage companies with this year’s fund, similar to last year. TCA-LA’s large and diverse membership base is able to provide the selected startups with larger investments and peer/mentorship benefits. TCA LA Fund 3 is the largest chapter fund within the TCA network.
“TCA LA Fund 3 gives Tech Coast Angels members the opportunity to diversify their startup investments by investing in a portfolio of companies evaluated and selected by the fund members who have expertise across a wide range of sectors,” said TCA LA Fund manager Ken Borkan. ”The Fund investment adds to the investments made by individual members, providing a large single source of investment capital for early-stage companies.”
Startups can apply for TCA LA’s individual and fund investments, and angel investors can apply for TCA membership, at: https://www.techcoastangels.la.
“Pandemics, recessions, interest rate hikes notwithstanding, it’s quite exciting to see the tremendous level of energy and commitment from our angel members, and to help entrepreneurs get their young companies off the ground with the accelerated funding opportunities through TCA LA Fund 3,” concluded Mr. Borkan.