Tech Coast Angels Sets Membership and Investment Records for Third Consecutive Year 

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

For more information:
Kimber Smith Fidler
for Tech Coast Angels
kimber@smithfidler.com
775 298 5260

SOURCE: http://www.prweb.com/releases/tech_coast_angels_sets_membership_and_investment_records_for_third_consecutive_year/prweb18679926.htm

Alliance Between Tech Coast Angels and MEDA Angels Expands Investment Opportunities, Deal Flow and Provides Additional Capital

Collaboration between the two acclaimed angel groups adds new deal flow, equity investment, and unique expertise in medical and healthcare markets

IRVINE, CALIF. AND WASHINGTON (PRWEB) MARCH 29, 2022

Tech Coast Angels (TCA) and MEDA Angels (MEDA) today announced that MEDA will become the newest member of the Tech Coast Angels network through a licensing agreement. MEDA is a virtual angel network that specializes in medical technology companies with a focus on mid-seed and A-round investments. MEDA’s affiliation with TCA gives both groups better deal flow, improved investment collaboration, and more capital investment opportunities. MEDA will have a seat on TCA’s Board of Governors, and will benefit from TCA’s expansive investor base and best practices. TCA will benefit from MEDA’s medical expertise and expanded deal flow.

This alliance builds on the recent addition of Pasadena Angels as a licensee of TCA and is part of TCA’s objective to expand its membership base and create more funding opportunities within a larger entrepreneurial ecosystem. The inclusion of these two angel groups adds 170 accredited investors, and provides entrepreneurs with additional possibilities to secure seed, bridge and early A-round funding. Over the past two years, Pasadena Angels invested over $9 million and MEDA Angels funded deals of $2 million. The alliance of these two renowned angel groups continues TCA’s accelerated growth in both members and geography, sustaining TCA’s position as one of the largest and most influential angel groups in the world, with investments totaling $40 million in 2020 and 2021.

“We’re excited about this alliance and mutually beneficial collaboration, particularly in the areas of digital health, medical devices and robotics, diagnostic technology, wellness and other medical technologies,” said Jeff Lapin, TCA chairman. “The alliance significantly strengthens TCA’s current expertise and knowledge base in these areas, and together we will be even more attractive to entrepreneurs and young companies in these markets.”

Elizabeth Cho-Fertikh, PhD, co-founder & managing director of MEDA Angels added, “We welcome becoming a member of the Tech Coast Angels network where our investors can join forces with one of the preeminent angel investing groups in the country. We look forward to collaborating with TCA and contributing our expertise to new healthcare deals and investments. I am excited about the prospects for a deeply rewarding and synergistic partnership with TCA."

On April 1, 2022, TCA San Diego will rebrand itself as NuFund Venture Group, an independent angel organization that will continue to collaborate and share deals with TCA.

Angel groups interested in becoming TCA licensees should contact David Friedman, TCA vice chairman, at dfriedman@prodigy.net.

About Tech Coast Angels:

With more than 400 members, Tech Coast Angels (TCA) is one of the largest and most active angel investor networks in the nation, and 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. Since its founding in 1997, 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. http://www.techcoastangels.com

About MEDA Angels:

MEDA Angels is a health-care focused angel investor group based in Washington, DC. The group was founded by seasoned physician- and scientist-angel investors, supported by a team of regulatory, reimbursement, legal and financial advisors. The group invests liberally across mid-seed and Series A healthcare opportunities: both disease management and prevention, covering SaaS, digital health, AI, robotics, diagnostics, medical devices and repurposed therapeutics. Angel members include more than 50 physicians and healthcare experts and those from a wide range of professional backgrounds who have a strong interest in healthcare investing. Importantly, the groups’ investments reflect strong product market fit validation of the technologies, as many MEDA members represent natural, prospective customers of those technologies. MEDA members are sought out for their Advisory capability by healthcare startups and are valued for their extensive healthcare networks that can support the progress of portfolio companies. Since its inception in 2019, MEDA has invested in 12 companies, which has included several re-investments, totaling nearly $2Mill USD. http://www.medaangels.com.

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SOURCE: http://www.prweb.com/releases/alliance_between_tech_coast_angels_and_meda_angels_expands_investment_opportunities_deal_flow_and_provides_additional_capital/prweb18580020.htm

Tech Coast Angels and Pasadena Angels Join Forces; Pasadena Angels to become a member of the Tech Coast Angels network

Strengthened alliance of these renowned angel groups to deliver expanded deal flow and technical expertise to members, and more capital and mentorship to entrepreneurs 

IRVINE, CALIF. AND PASADENA, CALIF. (PRWEB) JANUARY 18, 2022

Tech Coast Angels (TCA) and Pasadena Angels (PA) today announced that Pasadena Angels will become a member of the Tech Coast Angels network. While PA will maintain its identity, its affiliation with TCA will have the benefits of a strengthened collaboration, including a seat on TCA’s Board of Governors, better deal flow access, and streamlined operations. For entrepreneurs, this means additional expertise, mentorship, and funding opportunities. The alliance of these two distinguished groups will form one of the largest, most influential angel groups in the world.

Today’s announcement is a logical step for both networks. Both PA and TCA will gain access to each other’s entrepreneurial ecosystems, including due diligence expertise, strong data bases of deals and potential deals, access each other’s investment funds and new programs for improving deal selection.

“We’ve had a close relationship with Pasadena Angels for a very long time,” said Jeff Lapin, TCA chairman. “We have invested in many deals together, and some of those deals, such as MindBody and Bluebeam, have already had very successful exits. Taking our relationship to the next level builds on this collaboration for our members, and it also augments our already large and diverse set of advisors, mentors, and investors we can bring to startups and young companies.”

“Strengthening our relationship with TCA allows for PA to share deal flow, due diligence and expertise. Our angel community isn’t a competitive landscape; we often collaborate with other angels to brainstorm, share knowledge and to seek and fund the very best and brightest entrepreneurs,” said Dave de Csepel, Chairman of the Pasadena Angels. “As seed rounds and capital raises grow evermore significant, there’s an opportunity to widen our funnel, make great investments and help advance some terrific, enterprising, small companies.”

About Tech Coast Angels:

Tech Coast Angels (TCA) is one of the largest and most active angel investor networks in the nation, and a leading source of funding for seed-stage and early-stage companies. The angel network consists of more than 500 members in Southern California. Every TCA member is an accredited investor, and companies in which TCA invest go through well-structured, transparent, time-efficient screening and due diligence. TCA members are founders and business leaders who have extensive knowledge in the investment process and world-class business practices, and thus are able to provide companies with more than just capital: they also contribute counsel, mentoring and access to an extensive network of investors, customers, strategic partners, and management. In December 2020, TiE named Tech Coast Angels the Most Active Angel Network in the World. Since its founding in 1997 by Luis Villalobos, TCA has invested over $255 million in more than 500 companies and has helped attract more than $1.7 billion in additional capital/follow-on rounds. http://www.techcoastangels.com

About Pasadena Angels:

The Pasadena Angels (PA) was formed in the Spring of 2000 by DuWayne Peterson, based on the core belief that the best way to help emerging companies is to harness the expertise and capital from a group of informed and connected investors. Over the past 22 years, the original group of nine investors has grown to more than 100, and PA has consistently been recognized as one of the top angel investing groups in the US. PA funds between 15 – 18 new companies every year, with follow-on funding of another 6-10 deals per year. http://www.pasadenaangels.com

For more information:
Kimber Smith Fidler
Tech Coast Angels
kimber@smithfidler.com

SOURCE: http://www.prweb.com/releases/tech_coast_angels_and_pasadena_angels_join_forces_pasadena_angels_to_become_a_member_of_the_tech_coast_angels_network/prweb18439517.htm

Tech Coast Angels Posts Record Highs in 2020 for Investment, Membership, and Number of Companies Funded

Angel network fueled startup ecosystem with $19.4 million for 64 companies including $7.9 million through annual chapter funds, realized four successful exits, and expanded its geographic reach. 

IRVINE, Calif. – June 15, 2021 – Setting records for the second consecutive year, Tech Coast Angels (TCA) invested $19.4 million in a total of 64 early-stage companies in 2020 – including a record 42 new companies with 75% of the dollar investment – and grew its membership to 469, according to the angel network’s annual report. The network’s members invested $11.5 million directly, and the remaining $7.9 million of capital came from its three annual chapter funds.

Life Sciences companies continued to dominate the angel network’s investment charge, comprising 38% of the companies funded and 45% of the funding. Other key industries included Software, Consumer Internet, and Hardware. A full list of the companies, along with links to their websites, can be accessed in the annual report.

The report provides specifics on trends in terms of stage of company development, stage of round, type of security and valuation. It also charts a dramatic shift in 2020 (due to the pandemic and a move to virtual screening and remote due diligence) to companies based outside Southern California – for the first time exceeding 50%.

“Tech Coast Angels continues to be one of largest, most influential angel networks in the world because we continue to innovate and find new and better ways to work and grow with the investment and entrepreneurial communities,” said Jeff Lapin, TCA chairman. “We regularly explore new methods to partner with other angel groups to share deal flow, best practices and member knowledge. This benefits not only our members, but increases how we can provide better tools and guidance to startup companies and founders.”

In other highlights for 2020, TCA:

Realized four portfolio company exits:

• Companion Medical (acquisition) – 58x
• Beam Global (publicly traded) – 10x
• Zentalis (IPO) – 8.2x
• Paradigm Diagnostics (acquisition);

o Achieved a 5.3x return and 25.6% IRR on all portfolio outcomes, including exits and shutdowns, since the network’s founding in 1997;
o Shortened due diligence times to a fund decision to within 30 days; and
o Facilitated funding for 11 companies through its Angel Syndication Network, expanding the network’s geographic mix well beyond its traditional Southern California influence.

Download Tech Coast Angels 2020 Annual Report

The report also shares insights for 2021 and beyond, for both investors and early-stage companies, including:

• Maintain a healthy runway. In the next two years, we are likely to see a cyclical downturn and more good companies will likely fail for lack of financing than for all other reasons combined;
• Entrepreneurs who can attract funding should raise the money they can in current rounds without worrying about dilution;
• Entrepreneurs must stay frugal: if you’re not spending money on a better product or better customer experience, don’t spend it;
• Seek investors who can provide you with experience, guidance and contacts that can help you navigate the challenges ahead (rather than those that are willing to offer the highest valuation), and listen to your advisers;
• Angel investors should look to now to accelerate funding for companies with realistic valuations and who have evidence of customer traction/products and services already developed.

About Tech Coast Angels:

Tech Coast Angels (TCA) is one of the largest and most active angel investor networks in the nation, and a leading source of funding for seed-stage and early-stage companies. The angel network is comprised of four chapters, consisting of over 450 members in Southern California. Every TCA member is an accredited investor, and companies in which TCA invest go through well-structured, transparent, time-efficient screening and due diligence. TCA members are founders and business leaders who have extensive knowledge in the investment process and world-class business practices, and thus are able to provide companies with more than just capital: they also contribute counsel, mentoring and access to an extensive network of investors, customers, strategic partners and management. In December 2020, TiE named Tech Coast Angels the Most Active Angel Network in the World.

Since its founding in 1997 by Luis Villalobos, TCA has invested over $255 million in more than 460 companies and has helped attract more than $1.7 billion in additional capital/follow-on rounds. http://www.techcoastangels.com.

For more information:
Kimber Smith Fidler
for Tech Coast Angels
kimber@smithfidler.com
(775) 298 5260

SOURCE: http://www.prweb.com/releases/tech_coast_angels_posts_record_highs_in_2020_for_investment_membership_and_number_of_companies_funded/prweb18006890.htm

Jeff Lapin Appointed Chairman of Tech Coast Angels’ Board of Governors in 2021

Tech Coast Angels (TCA), recently named the most active angel network in the world, today announced the appointment of current member and former TCA-Los Angeles chapter president, Jeff Lapin, to chairman of the angel network’s board of governors for 2021. 

David Friedman joins the board as vice-chairman.

“TCA is an important link in the entrepreneurial ecosystem, providing early-stage funding to companies who need capital to support growth,” said Mr. Lapin. “TCA has an incredible amount of collective knowledge -- and therefore we as a network can offer so much more than capital: we offer expertise, wisdom, and a certain amount of real-world ‘been there, done that’ that can be so crucial to an early-stage company.”

Mr. Lapin is a seasoned executive with experience in management/C-level roles at Starwood Hotels, House of Blues, Atari, THQ, and Take-Two, as well as many privately-held companies. At many of these companies, he successfully met the difficult task of turning the company around or creating high-growth opportunities. He says he looks for the same traits in entrepreneurs that he looked for when hiring executives: the drive to work hard and succeed; the ability to listen; the flexibility to pivot as needed; and the communications skills necessary to reach and influence all constituents.

Celebrating his tenth year as a member of TCA, Mr. Lapin brings enormous experience to the position, with over 30 start-up investments as an angel, in addition to his robust management expertise. Mr. Lapin was president of TCA-LA in 2014/15.

In his current role as chairman with TCA’s board of governors, he oversees the network’s four chapters that span Southern California.

“Being a member of TCA is a rewarding experience not only by giving entrepreneurs the chance to succeed, but I learn so much every time I attend a screening session about the newest technology or innovations,” concluded Mr. Lapin. “We can achieve great things because our members are smart and successful. Because of TCA’s size and influence, we have members who are familiar and experienced in nearly every field, in nearly every industry, who want to invest not only money, but their time -- to mentor, guide, connect, and share their expertise. So yes, while TCA provides strong investment potential, it is much more: it’s exciting and rewarding to be a part of the success and growth of so many young companies.”

About Tech Coast Angels:

Tech Coast Angels (TCA) is one of the largest and most active angel investor networks in the nation, and a leading source of funding for seed-stage and early-stage companies. The angel network is comprised of four chapters, consisting of over 450 members in Southern California. Every TCA member is an accredited investor, and companies in which TCA invest go through well-structured, transparent, time-efficient screening and due diligence. TCA members are founders and business leaders who have extensive knowledge in the investment process and world-class business practices, and thus are able to provide companies with more than just capital: they also contribute counsel, mentoring and access to an extensive network of investors, customers, strategic partners and management. In December 2020, TiE named Tech Coast Angels the Most Active Angel Network in the World.

Since its founding in 1997, TCA has invested over $250 million in more than 450 companies and has helped attract more than $1.7 billion in additional capital/follow-on rounds. http://www.techcoastangels.com.

Media contact:
Kimber Smith Fidler
for Tech Coast Angels
kimber@smithfidler.com

SOURCE: http://www.prweb.com/releases/jeff_lapin_appointed_chairman_of_tech_coast_angels_board_of_governors_in_2021/prweb17701229.htm