NFT Street Fair Conference & Investor Pitch Competition 5/28/22
New OC Startup Job Listings: Network Capital, InterSources Inc, Programmers.io, CADflow, Iteris

Tech Coast Angels 2021 Annual Report Highlights

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  TCA

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

WHAT’S YOUR NEWS? - Submit your company news, deals, opinions, or job listings here for FREE PUBLICITY.

See the Directory of OC StartupsJoin the OCSC to list your company, too!

AND - Subscribe for FREE OC Startup News here!

OR, WHAT DO YOU THINK?  LEAVE A COMMENT BELOW!

Comments

Verify your Comment

Previewing your Comment

This is only a preview. Your comment has not yet been posted.

Working...
Your comment could not be posted. Error type:
Your comment has been saved. Comments are moderated and will not appear until approved by the author. Post another comment

The letters and numbers you entered did not match the image. Please try again.

As a final step before posting your comment, enter the letters and numbers you see in the image below. This prevents automated programs from posting comments.

Having trouble reading this image? View an alternate.

Working...

Post a comment

Comments are moderated, and will not appear until the author has approved them.

Your Information

(Name and email address are required. Email address will not be displayed with the comment.)