Tech Coast Angels’ Los Angeles Network Announces Annual Fund, Streamlined Due Diligence

New funding model and more efficient processes result in faster access to capital and more diverse investment opportunities; eleven companies already funded

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LOS ANGELES – June 11, 2020 – In its continued efforts to support the entrepreneurial ecosystem in Southern California, Tech Coast Angels-Los Angeles (TCA-LA) today announced its first members-only fund. This annual fund provides new and diverse opportunities for investors and an additional source of startup capital for entrepreneurs. Tech Coast Angels (TCA) achieved record investment of over $19 million in 2019, in part due to a bellwether annual chapter fund started by TCA-San Diego last year.

The total throughout all of TCA’s chapter funds this year pledges $6 million ready for deployment in 2020, all in addition to the direct investments from TCA’s 450+ members.  The entire fund is to be invested in 2020, providing seed funding to start-up and early stage companies, primarily located in Southern California.  Unlike a sidecar fund, this “conductor” fund provides the first money available to early stage companies, and individual TCA members may invest additional funds on top of that.

TCA-LA has invested in eleven companies this year (six after the coronavirus outbreak), and TCA-LA’s 2020 Annual Fund has invested in five companies this year, (three after the coronavirus outbreak):

  • Fitplan*
  • Grolens*
  • Hawthorne Effect
  • Nevados*
  • Neural Analytics
  • Noria Water Technologies
  • Razberi Technologies*
  • Ready, Set, Food!*
  • Recess
  • Somabar
  • Turn Technologies

* TCA-LA 2020 Annual Fund companies

Countering the perception that angel funding can move slowly, TCA-LA has also streamlined its due diligence process to provide a funding decision by both TCA and the fund within 30 days of a company’s presentation to the angel network.

“Far too often, founders lose valuable time focused on a lengthy fundraising process when they’d rather be focused on operating.  Our fund will invest quickly and will target $200,000 per check,” said Brian Horner, president of TCA-LA. “This new fund is a great way to provide our members with diversification across a larger number of early stage companies while providing meaningful and fast capital to entrepreneurs.”

Companies wishing to present to TCA-LA: visit https://www.techcoastangels.com/entrepreneurs

Investors wishing to join TCA-LA: email LA Membership: membership@techcoastangels.la

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