The Tech Coast Angels, Southern California's largest angel investment group, is ranked number two in the nation this year in terms of the number of deals the group did, according to the latest 2012 Halo Report. The report, a national survey of angel group investment activity, was released today by The Angel Resource Institute (ARI), Silicon Valley Bank (SVB) and CB Insights.

According to the report, the Tech Coast Angels slipped from last year's number one position, due to the activity of the New York Angels. Overall, the report found that angel investing for the year was stable compared with prior years; the report said that pre-money valuations for early stage companies remained steady at $2.5M, median angel round size for Q4 2012 was $690K in Q4 2012 for the second quarter in a row.