In 2021, TCA increased investments to a record $20.4 million in 53 companies, grew membership to more than 500, accepted its 500th company, and realized 11 successful exits
IRVINE, Calif. – May 17, 2022 – Tech Coast Angels (TCA) invested $20.4 million in a total of 53 companies in a diverse mix of industries, as reported in its Tech Coast Angels 2021 Annual Report. While Life Sciences and Software were the largest funded sectors, the angel network invested in both tech and non-tech, with 72% of its investment funding 40 new companies. TCA grew its annual chapter funds to $9.7 million, adding diversification to members portfolios and providing additional capital to early-stage companies beyond an $11.7 million invested directly by TCA members.
Other TCA highlights from 2021:
- TCA met its goal to expedite investment decision to within 30 days from the start of due diligence to funding.
- TCA realized its largest multiple ever, 368x on members’ original investment with the Procore Technologies IPO.
- TCA achieved overall 6.7X multiple on all 225 outcomes (97 exits and 128 shutdowns) since 1997, with IRR of 26.1%
- TCA’s Angel Syndication Network (ASN) now covers more than 60 angel groups to participate in deals with other accredited investors throughout the country. This led to an additional $3.5 million in funding for eight companies.
- TCA is making progress on its DEI (diversity, equity, inclusion) initiative, with female presidents in two of the four chapters, and with 23% of companies funded in 2021 led by CEOs who identify as other than white/Caucasian.
”TCA works hard to be the best place for the best companies to get funded,” said TCA chairman Jeff Lapin. “Our large membership truly provides a wealth of diverse backgrounds and expertise. This positions us not only to do effective due diligence, but adds significant value to our portfolio companies once funded — providing mentoring, experience, and relationship capital to help them grow and succeed.”
The complete report, Tech Coast Angels 2021 Annual Report, can be downloaded at https://www.techcoastangels.com/wp-content/uploads/2022/05/TCA-Annual-Report-2021-final.pdf. Along with the highlights above, the comprehensive report includes detail about last year’s investments, observations looking forward for entrepreneurs and angels, a full list of companies added to TCA’s portfolio, a full list of exits, and more.
About Tech Coast Angels:
Since its inception in 1997, Tech Coast Angels (TCA) has invested more than $255 million in more than 500 companies and has helped attract more than $1.7 billion in additional capital/follow-on rounds. One of the largest and most active angel investor groups in the nation, TCA and its affiliate member networks are a leading source of funding for seed-stage and early-stage companies. TCA members are founders and business leaders, all of whom are accredited investors with extensive knowledge in the investment process and world-class business practices. That real-world experience allows TCA members to provide companies with benefits beyond capital: counsel, mentoring, and access to an extensive network of investors and other resources. www.techcoastangels.com