Despite the dire economy and lack of available capital (or maybe because of it), Tech Coast Angels (TCA), the largest angel investment network in the U.S., completed seven rounds of new investment deals and 17 follow-on deals in 2009, raising $4.7 million through direct Tech Coast Angels investment and an additional $57 million through other sources of venture capital and angel capital for the network's entrepreneurial companies. According to Richard Sudek, TCA chairman, "We want entrepreneurs to know that there is still a vibrant investment environment in Southern California. We take our responsibility to foster and develop new enterprises very seriously."
While the total investment money available in 2009 declined from the previous year and fewer new deals were completed, 2009 actually saw an increase in the number of follow-on investments. Sudek said, "Clearly our members feel deeply committed to our invested companies and believe in their growth. We not only continue to raise money for them, we also provide day-to-day operating assistance and mentoring that company executives tell us often make the biggest difference in their success."
A number of the invested companies in 2009 were in the high technology arena, a TCA focus, however many other markets were represented. Young companies in entertainment, industrial applications, retail, communications, healthcare, biotechnology and even home improvement received investment dollars.
"We already see 2010 on an upward trend," stated Sudek. "The new
programs we've instituted like the Entrepreneur Mixers and SeedTrack
will give us the chance to help companies at even earlier stages. As
2009 demonstrates, that early mentoring generally leads to success."
Some of the companies who received funding by Tech Coast Angels in
2009 included: WiSpry; Paradigm Select Assets; MicroPower Technologies;
Outside Labs; Mobile XL; Cyber-Rain; Loop'd Network; Vigilistics;
Numira; YouMail; Amplyx Pharmaceuticals; Benchmark Revenue; Masher
Media; H2scan; MyShape; LeisureLink; PharmaSecure; ElephantDrive; and
UsedCardboardBoxes.
About Tech Coast Angels
Tech Coast Angels, www.techcoastangels.com, is the largest angel
investor group in the United States. Its members provide funding and
guidance to more early-stage, high-growth companies in Southern
California than any other investment group. TCA members invest in
companies in a wide range of industries, including the life sciences,
biotech, IT, services, retail, Internet, financial, software, media,
consumer products and tech startups. TCA members give companies more
than just capital; they also provide counsel, mentoring and access to an
extensive network of potential investors, customers, strategic partners
and management talent. TCA has more than 250 members, including its
venture capital affiliates, in five networks in Los Angeles, Orange
County, San Diego, Westlake/Santa Barbara and the Inland Empire. More
information on investment with Tech Coast Angels can be found at
www.techcoastangels.com, www.facebook.com/techcoastangels or
twitter.com/techcoastangels.
Source: Tech Coast Angels
To read the full, original article click on this link: PR-USA.net - Tech Coast Angels Demonstrate Angel Investment Leadership with Seven New Deals and 17 Follow-On Deal
Author: Press Release
