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{{Short description|American venture capital firm}}
{{Infobox company|
{{Multiple issues|
company_logo = [[Image:TCA-new-logo.jpg|Tech Coast Angels]]|
{{advert|date=August 2019}}
company_name = Tech Coast Angels|
{{COI|date=January 2021}}
company_type = [[Mutual-benefit nonprofit corporation]] |
foundation = 1997 |
location = [[Image:Flag of the United States.svg|20px]] [[Southern California]] |
industry = [[Private equity|Private Equity]] |
products = [[Angel investor|Angel Investing Group]]|
assets = |
homepage = [http://www.techcoastangels.com/ www.techcoastangels.com] |
num_employees = |
}}
}}
{{Infobox company
| logo = [[Image:TCA Venture Group logo.png|Tech Coast Angels]]
| name = Tech Coast Angels, Inc. (dba TCA Venture Group)
| type = [[Mutual-benefit nonprofit corporation]]
| foundation = 1997
| location = [[Southern California]], [[United States]]
| industry = [[Private equity|Private Equity]]
| products = [[Angel investor|Angel Investing Group]]
| homepage = https://tcaventuregroup.com
}}
'''TCA Venture Group''' is the leading source of funding to early-stage companies in Southern California.<ref>{{cite web|url=http://www.angelcapitalassociation.org/directory/|title=Angel Capital Association Directory|publisher=[[Angel Capital Association]]}}</ref><ref>{{cite web|url=http://www.socaltech.com/southern_california_tech_companies_raise_7_9_8m_in_q3/s-0051964.html|title=Southern California Tech Companies Raise $709.8M In Q3|date=October 18, 2013|author=socalTECH}}</ref> In 2023, TCA had about 400 members.<ref name=":0">{{Cite news|url=http://www.sandiegouniontribune.com/business/technology/sd-fi-techcoast-funding-20180530-story.html|title=Investor network Tech Coast Angels pumped $14.2 million into start-ups last year|last=Freeman|first=Mike|work=sandiegouniontribune.com|access-date=2018-09-21|language=en-US}}</ref> In August 2014, an analysis by CB Insights ranked TCA No.1 out of 370 angel groups on “Network Centrality” and No. 5 overall in “Investor Mosaic.”<ref>{{Cite web|url=https://www.cbinsights.com/blog/top-angel-groups-mosaic/|title=Ranking Angel Investment Groups|date=August 13, 2014|website=CB Insights|access-date=June 10, 2016}}</ref>


== History ==
'''Tech Coast Angels''' is an [[angel investor]] network in the United States and one of the leading sources of funding to early-stage companies in Southern California.<ref>{{cite web|url=http://www.angelcapitalassociation.org/directory/|author=|work=|publisher=[[Angel Capital Association]]|title=Angel Capital Association Directory}}</ref><ref>{{cite web|url=http://www.socaltech.com/venture_capital_totals_6_3__m_in_southern_california_in_q3/s-0038812.html|author=socalTECH| E.|work=|publisher=|title=Venture Capital Totals $603.2M In Southern California In Q3 | date=October 18, 2011}}</ref> Since its inception in 1997, TCA members have focused on building valuable companies, personally invested nearly $119 million, and helped portfolio companies attract more than $1.4 billion in additional capital, mostly from [[venture capital]] firms.<ref>{{cite web|url=http://www.socaltech.com/tech_coast_angels_fuels_4_m_in_deals_in____/s-0041028.html|author=socalTECH| E.|work=|publisher=|title=Tech Coast Angels Fuels $45M In Deals In 2011 | date=February 15, 2012}}</ref> TCA members give companies more than just capital; they also provide counsel, <ref>{{cite web|url=http://www.businessweek.com/smallbiz/content/jun2009/sb20090612_370864.htm|author=Klein, Karen E.|work=|publisher=[[BusinessWeek]]|title=Perfecting the Fund-Raising Pitch}}</ref>
Tech Coast Angels - now (as at March 2024) called TCA Venture Group<ref>{{cite web|url=https://tcaventuregroup.com/about-us/|title=Who is TCA|access-date=March 24, 2024}}</ref> - was founded in 1997 by [[Luis Villalobos (investor)|Luis Villalobos]].<ref>{{cite web|url=https://www.angelcapitalassociation.org/luis-villalobos-award/|title=Luis Villalobos award|access-date=March 24, 2024}}</ref>
<ref>{{cite web|url=http://www.slideshare.net/techcoastangels/tca-7-psofpresentations|author=Tech Coast Angels|work=|publisher=SlideShare|title=7 P's of Investor Presentations}}</ref>
<ref>{{cite news|url=http://blogs.wsj.com/venturecapital/2010/01/11/how-to-pitch-a-venture-capitalist-on-a-napkin/?mod=tech|author=Austin, Scott|work=|publisher=[[Wall Street Journal]]|title=How To Pitch A Venture Capitalist On A Napkin | date=January 11, 2010}}</ref>
<ref>{{cite news|url=http://blogs.wsj.com/venturecapital/2010/08/02/the-magic-8-ball-of-angel-investing/?mod=tech|author=Venture Capital Dispatch|work=|publisher=[[Wall Street Journal]]|title=The Magic 8-Ball of Angel Investing | date=August 2, 2010}}</ref>
mentoring and access to an extensive network of potential investors, <ref>{{cite web|url=http://www.pacificsandiego.com/2011/10/02/cashing-in|author=Perloff, David and
Sherman, Pat|work=|publisher=Pacific San Diego Magazine|title=Cashing In San Diego investors write personal checks to propel local entrepreneurs | date=October 2, 2011}}</ref><ref>{{cite web|url=http://www.signonsandiego.com/uniontrib/20040427/news_1b27angels.html|author=Somers, Terri|work=|publisher=[[San Diego Union Tribune]]|title=San Diego angels lend financial wings to entrepreneurs needing cash}}</ref>
<ref>{{cite web|url=http://jan.freedomblogging.com/2009/09/14/local-investors-seek-to-jumpstart-new-oc-ventures/21951//|author=Norman, Jan|work=|publisher=[[The Orange County Register]]|title=Local investors seek to jumpstart new O.C. ventures}}</ref>
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.


TCA members provide companies capital, counsel,<ref>{{cite news |author=Klein, Karen E. |date=12 June 2009 |title=Perfecting the Fund-Raising Pitch |newspaper=Bloomberg.com |publisher=[[Bloomberg BusinessWeek]] |url=https://www.bloomberg.com/news/articles/2009-06-12/perfecting-the-fund-raising-pitch}}</ref><ref>{{cite web |author=Tech Coast Angels |date=12 September 2010 |title=7 P's of Investor Presentations |url=http://www.slideshare.net/techcoastangels/tca-7-psofpresentations |publisher=SlideShare}}</ref><ref>{{cite news |author=Austin, Scott |date=January 11, 2010 |title=How To Pitch A Venture Capitalist On A Napkin |publisher=[[Wall Street Journal]] |url=https://blogs.wsj.com/venturecapital/2010/01/11/how-to-pitch-a-venture-capitalist-on-a-napkin/?mod=tech}}</ref><ref>{{cite news |author=Venture Capital Dispatch |date=August 2, 2010 |title=The Magic 8-Ball of Angel Investing |publisher=[[Wall Street Journal]] |url=https://blogs.wsj.com/venturecapital/2010/08/02/the-magic-8-ball-of-angel-investing/?mod=tech}}</ref>
Noteworthy investment exits for the TCA include "Sandpiper Networks" and "[[Green Dot Corporation]]", both returning 100X or more of TCA invested capital<ref>{{cite news|url=http://www.forbes.com/forbes/2002/1028/303_print.html|author=Hardy, Quentin|work=|publisher=Forbes|title=Where Angels Dare to Tread|date=October 28, 2002}}</ref>
mentoring and access to a network of potential investors and partners.<ref>{{cite web |author1=Perloff, David |author2=Sherman, Pat |name-list-style=amp |date=October 2, 2011 |title=Cashing In San Diego investors write personal checks to propel local entrepreneurs |url=http://www.pacificsandiego.com/2011/10/02/cashing-in |publisher=Pacific San Diego Magazine}}</ref><ref>{{cite web |author=Somers, Terri |title=San Diego angels lend financial wings to entrepreneurs needing cash |url=http://www.signonsandiego.com/uniontrib/20040427/news_1b27angels.html |work=[[San Diego Union Tribune]]}}</ref><ref>{{cite web |author=Norman, Jan |date=14 September 2009 |title=Local investors seek to jumpstart new O.C. ventures |url=http://www.ocregister.com/jannorman/http-411502-strong-million.html |publisher=[[The Orange County Register]]}}</ref> TCA has chapters located in Los Angeles, Orange County, and the Inland Empire.<ref name=":0" /> In addition, Pasadena Angels<ref>{{Cite news |date=January 18, 2022 |title=Tech Coast Angels and Pasadena Angels Join Forces |url=https://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}}</ref> and MEDA Angels<ref>{{Cite news |date=March 29, 2022 |title=Alliance Between Tech Coast Angels and MEDA Angels Expands Investment Opportunities, Deal Flow and Provides Additional Capital |url=https://www.prweb.com/releases/alliance_between_tech_coast_angels_and_meda_angels_expands_investment_opportunities_deal_flow_and_provides_additional_capital/prweb18580020.htm}}</ref> are networks within TCA Venture Group.
.<ref>{{cite web|url=http://www.socaltech.com/green_dot_sets_pricing_range/s-0029737.html|author=|work=|publisher=socalTECH|title=Green Dot Sets Pricing Range}}</ref>


In 2020, TCA invested $20 million in 64 companies.<ref>{{Cite web|url=https://www.prweb.com/releases/undeterred_by_the_pandemic_tech_coast_angels_los_angeles_chapter_wraps_up_a_successful_2020/prweb17635722.htm|title=Undeterred by the Pandemic, Tech Coast Angels-Los Angeles Chapter Wraps Up a Successful 2020|date=December 19, 2020|website=PR Web|access-date=December 19, 2020}}</ref>
In December 2011, Tech Coast Angels announced that Steve Flaim has moved into the position of Chairman of its Board of Directors.
Flaim has been a member of the TCA since 2004 and was previously President of the San Diego chapter of the Tech Coast Angels.
<ref>{{cite web|url=http://thefrankpetersshow.com/2011/champagne-corks-pop/|author=Peters, Frank|publisher=The Frank Peters Show|title=Champagne Corks Pop}}</ref>


Furthermore, TCA had invested about $15.4 million in a total of 41 companies in 2022, as noted in its 2022 Annual Report and total investments have exceeded $10 million for twelve years. While there were also 10 shutdowns, 21 of them of the 41 companies receiving funding were new additions to TCA's portfolio, representing 72% of investments, compared to 48% in 2021.<ref>{{Cite web |title=Tech Coast Angels Invested $15.4 Million in 41 Companies and Realized Highest-Ever Number of Exits in 2022 |url=https://www.prweb.com/releases/tech_coast_angels_invested_15_4_million_in_41_companies_and_realized_highest_ever_number_of_exits_in_2022/prweb19337381.htm |access-date=2023-07-27 |website=PRWeb}}</ref>
==Investment Portfolio==
The Tech Coast Angels investment portfolio page lists investments in general categories such as Advanced Technologies, Clean Tech, Consumer, Digital Media, Financial, Industrial, IT, Life Science and Software.<ref>TCA website. ''[http://www.techcoastangels.com/portfolio Tech Coast Angels Investment Portfolio.]''</ref>
TCA portfolio companies can also be found in Wikipedia, some examples:


In January 2024, Tech Coast Angels renamed itself TCA Venture Group, to reflect that its investments are much broader than just technology and that over 50% of its recent investments have been outside Southern California.<ref>{{Cite web |last= |first= |date=January 17, 2024 |title=Tech Coast Angels Unveils TCA Venture Group |url=https://tcaventuregroup.com/tech-coast-angels-unveils-tca-venture-group/ |website=TCA Venture Group}}</ref>
* [[ElephantDrive]] - storage virtualization service


=== Company exits ===
* [[Green Dot Corporation]] - issuer of prepaid MasterCard and Visa cards in the United States
TCA has had eleven IPOs and over 106 exits in total.<ref>{{Cite web |title=Tech Coast Angel Portfolio |url=https://tcaventuregroup.com/tca-portfolio/ |access-date=June 10, 2016 |website=Tech Coast Angels}}</ref> Four of those (Procore, Mindbody, Greendot and Sandpiper Networks) achieved multiples between 149x and 368x.<ref>{{cite news|url=https://www.forbes.com/forbes/2002/1028/303_print.html|archive-url=https://web.archive.org/web/20021115202602/http://www.forbes.com/forbes/2002/1028/303_print.html|url-status=dead|archive-date=November 15, 2002|author=Hardy, Quentin|work=[[Forbes]]|title=Where Angels Dare to Tread|date=October 28, 2002}}</ref><ref>{{cite web|url=http://www.socaltech.com/green_dot_sets_pricing_range/s-0029737.html|publisher=socalTECH|title=Green Dot Sets Pricing Range}}</ref> TCA's successful exits include:
* [[Procore|Procore Technologies]] (construction management SAAS)<ref>{{Cite news |date=May 20, 2021 |title=Construction tech firm Procore valued at $11 bln in solid market debut |url=https://www.reuters.com/technology/construction-software-firm-procores-shares-jump-25-market-debut-2021-05-20/}}</ref>
* [[Mindbody Inc.|Mindbody]] (wellness business services software)<ref>{{Cite web|url=http://www.foxbusiness.com/features/2015/06/19/mindbody-ipo-is-uber-wellness.html|title=Mindbody IPO is the 'Uber of Wellness'|date=June 19, 2015|website=Fox Business|access-date=June 10, 2016}}</ref>
* [[Green Dot Corporation]] (over-the-counter prepaid [[debit card]])
*Sandpiper Networks (internet infrastructure)
*[[TrueCar|Truecar]] (automotive lead generation)
*Companion Medical (smart insulin pen system paired with diabetes management app)
*FinDox (compliance tool for institutional investors)
*Leaselock (sells Certificates of Guarantee promising rent when tenant defaults)
*[[Bluebeam Software, Inc.|BlueBeam Software]] (PDF collaboration software)<ref>{{Cite web|url=http://www.bluebeam.com/us/press-room/articles/10-3-14.asp|title=Nemetschek Acquires Bluebeam Software|date=October 3, 2014|website=Bluebeam|access-date=June 10, 2016}}</ref>
* One Stop Systems (manufactures Computers for Industrial Applications)
* Parcel Pending (electronic Smart Locker storage system for multi-family housing)
* Annex Cloud (SaaS based social platform for online retailers to monetize social media)
* Kalyra Pharmaceuticals (oil substitute, made from waste beef tallow)
*Green Earth Technologies (oil substitute made from waste beef tallow)
*[[CaseStack|Casestack]] (integrated logistics outsourcing)
*EV Connect Inc (electric car battery charging solution)<ref>{{Cite news |date=June 21, 2022 |title=EV Connect Acquired by Schneider Electric to Accelerate EV Revolution |url=https://www.prnewswire.com/news-releases/ev-connect-acquired-by-schneider-electric-to-accelerate-ev-revolution-301571484.html}}</ref>
* [[Lytx]] (Drivecam (video event recorder for driver feedback safety)<ref>{{Cite web|url=http://www.prnewswire.com/news-releases/gtcr-announces-acquisition-of-lytx-300222383.html|title=GTCR Announces Acquisition of Lytx|date=February 18, 2016|website=PR Newswire|access-date=June 10, 2016}}</ref>
* Cytom X Therapeutics (antibody therapeutics for a variety of serious diseases including cancer)<ref>{{Cite web|date=October 8, 2015|title=No Drug Yet In Clinic, But CytomX Raises $80M In Discounted IPO|url=http://www.xconomy.com/san-francisco/2015/10/08/no-drug-yet-in-clinic-but-cytomx-raises-80m-in-discounted-ipo/#|access-date=June 10, 2016|website=Xconomy}}</ref>
* Beam Global (portable solar EV charging station with no grid ties)
*[[WiseWindow]] (open qualitative content aggregation platform)<ref>{{Cite web|url=http://socialmediaanalysis.com/2012/04/kpmg-acquires-wisewindow.html|title=KPMG Acquires WiseWindow|date=April 29, 2012|website=SocialMedia Analysis|access-date=June 10, 2016}}</ref>
* Vital Therapies (liver assist device)<ref>{{Cite web|date=April 17, 2014|title=Vital Therapies banks $54M in a downsized IPO retry|url=http://www.fiercebiotech.com/r-d/vital-therapies-banks-54m-a-downsized-ipo-retry|access-date=June 10, 2016|website=FierceBiotech}}</ref>
*[[Language Weaver]] (machine translation software)
*Doctible (cash-based healthcare network to shop for healthcare)
*WeGoLook (dispatches in-person Lookers to verify claims made by internet sellers)
*[[Portfolium]] (online social portfolio network)
* AIRSIS (remote asset tracking & management)<ref>{{Cite web|url=http://www.prnewswire.com/news-releases/oceaneering-announces-acquisition-of-airsis-261574101.html|title=Oceaneering Announces Acquisition of AIRSIS|date=June 2, 2014|website=PR Newswire|access-date=June 10, 2016}}</ref>
* Retrosense Therapeutics (biologic approach to vision restoration in retinal degenerative conditions)
* Althea (cGMP manufacturing, analytical development, aseptic filling)<ref>{{Cite web|url=http://www.ajinomoto.com/en/presscenter/press/detail/g2013_03_06.html|title=Ajinomoto Co., Inc. agrees to acquire Althea Technologies, Inc.|date=March 6, 2013|website=Ajinimoto Co.|access-date=June 10, 2016}}</ref>
* N Spine (spine stability system)<ref>{{Cite web|url=https://www.reuters.com/article/synthes-nspine-idUSL1347050420071113|title=Swiss Synthes buys U.S. N Spine for around $75 mln|date=November 13, 2007|website=Reuters|access-date=June 10, 2016}}</ref>
* OptionEase (stock option audit financial software)<ref>{{Cite web|url=https://solium.com/2012/10/08/solium-capital-inc-announces-acquisition-of-optionease-inc/|title=Solium Capital Inc. Announces Acquisition of Optionease, Inc.|date=October 8, 2012|website=Solium Capital|access-date=June 10, 2016}}</ref>
* VCP (Platform for debit card, credit card and wellness programs for veterinarians and dentists)
* Discover Echo (world's first hybrid hi-res digital microscope)
* Insight Medical (computer assisted surgery in orthopedic procedures)
* LendAmend LLC (online solution for loan amendment)
* Greenplum (intelligent data routing systems)
*Savara Pharmaceuticals (inhalable antibiotic for the treatment of MRSA in Cystic Fibrosis patients)
*ClearCare (management of home care agencies)
*Cognition Therapeutics Inc (memory restoration for Alzheimer's)
*Pictage.com (online event photography services)<ref>{{Cite web |date=March 2, 2006 |title=Apax Partners Invests $29 Million in Pictage, Inc., The Leading Provider of Online Solutions For Professional Wedding and Portrait Photographers |url=http://www.prnewswire.com/news-releases/apax-partners-invests-29-million-in-pictage-inc-the-leading-provider-of-online-solutions-for-professional-wedding-and-portrait-photographers-55217972.html |access-date=June 10, 2016 |website=PR Newswire}}</ref>
*eTeamz (B2C Amateur Athletic Community)
*[[Trius Therapeutics]] (antimicrobial drug)<ref>{{Cite web |date=July 30, 2013 |title=Cubist Adds Antibiotic Punch, Buys Trius and Optimer for $1.24B |url=http://www.xconomy.com/boston/2013/07/30/cubist-adds-antibiotic-punch-buys-trius-and-optimer-for-1-24b/ |access-date=June 10, 2016 |website=Xconomy}}</ref>
*Olive Medical (HD surgical camera)<ref>{{Cite web|date=February 10, 2015|title=Depuy Synthes Companies Acquires Olive Medical Corporation|url=http://www.jnj.com/news/all/Depuy-Synthes-Companies-Acquires-Olive-Medical-Corporation|access-date=June 10, 2016|website=Johnson & Johnson}}</ref>
*Controltec, Inc. (ASP for Subsidized Child Care)
* Molecular Medicine BioServices (contract clinical manufacturer)<ref>{{Cite web|url=http://www.prnewswire.com/news-releases/sigma-aldrich-acquires-molecular-medicine-bioservices-to-expand-safc-pharma-capabilities-58048927.html|title=Sigma-Aldrich Acquires Molecular Medicine BioServices to Expand SAFC Pharma Capabilities|date=May 8, 2007|website=PR Newswire|access-date=June 10, 2016}}</ref>
* Allylix (artificial fragrance production)<ref>{{Cite web|url=http://www.evolva.com/press-release/evolva-to-acquire-allylix/|title=Evolva to acquire Allylix|date=November 18, 2014|website=Evolva|access-date=June 10, 2016}}</ref>
In addition to the 106 exits, 141 companies in the portfolio were shutdowns with no returns. Based on all outcomes to date, TCA's portfolio has returned 6.4 times invested capital, and achieved an IRR of 25% on its portfolio.<ref>{{Cite web |date=2016 |title=Tech Coast Angels Performance |url=https://www.tcaventuregroup.com/performance/ |access-date=June 10, 2016 |website=Tech Coast Angels}}</ref>


==Investment portfolio==
* [[HitFix]] - an entertainment news website
{{More citations needed|date=July 2022}}
The TCA investment portfolio page lists investments in general categories such as Life Sciences, Internet and Apps, Software, Consumer, CleanTech and Industrials, Hardware, Financial, and Business.<ref>TCA website. ''[https://www.techcoastangels.com/portfolio-category/active/ Tech Coast Angels Investment Portfolio.]''</ref> Active portfolio companies include:


*[[Apeel Sciences]] (tasteless edible coatings for fresh produce)
* [[MicroPower Technologies]] - power-efficient wireless video camera technology
*The Bouqs Company (Online Flower Shopping)

*Cloudbeds (SAAS Hotel Hospitality Management Software)
* [[SodaHead.com]] - an online community featuring content creation and redistribution
*[[ElephantDrive]] (storage-as-a-service software)

* Kickstart ([[Cadence Biomedical]]) (helps people with severe disabilities walk)
* [[Vokle]] - embeddable Internet microsite application for live video broadcast
*myLAB Box (testing for STDs from the comfort of home)

* [[Ninja Metrics]] (measures social influence)
* [[WiSpry]] - RF MEMS (Radio Frequency Micro-Electro-Mechanical Systems) solutions
* [[PharmaSecure]] (mass serialization codes for products in emerging markets)
* [[Ranker]] (UGC {{En dash}} social platform for ranking things)
* [[Youmail|YouMail]] (voice messaging for cell phones)


==References==
==References==
{{Reflist}}
{{Reflist|30em}}


{{Private equity and venture capital}}
==External links==
*[http://www.techcoastangels.com Official site].
*[http://www.seedtrack.org/ Orange County Seed Track Program].
*[http://www.slideshare.net/techcoastangels Tech Coast Angels presentations on SlideShare].
<br />


[[Category:Financial services companies established in 1997]]
{{Private equity and venture capital}}
[[Category:Venture capital firms]]
[[Category:Venture capital firms of the United States]]

Latest revision as of 06:26, 15 August 2024

Tech Coast Angels, Inc. (dba TCA Venture Group)
Company typeMutual-benefit nonprofit corporation
IndustryPrivate Equity
Founded1997
HeadquartersSouthern California, United States
ProductsAngel Investing Group
Websitehttps://tcaventuregroup.com

TCA Venture Group is the leading source of funding to early-stage companies in Southern California.[1][2] In 2023, TCA had about 400 members.[3] In August 2014, an analysis by CB Insights ranked TCA No.1 out of 370 angel groups on “Network Centrality” and No. 5 overall in “Investor Mosaic.”[4]

History

[edit]

Tech Coast Angels - now (as at March 2024) called TCA Venture Group[5] - was founded in 1997 by Luis Villalobos.[6]

TCA members provide companies capital, counsel,[7][8][9][10] mentoring and access to a network of potential investors and partners.[11][12][13] TCA has chapters located in Los Angeles, Orange County, and the Inland Empire.[3] In addition, Pasadena Angels[14] and MEDA Angels[15] are networks within TCA Venture Group.

In 2020, TCA invested $20 million in 64 companies.[16]

Furthermore, TCA had invested about $15.4 million in a total of 41 companies in 2022, as noted in its 2022 Annual Report and total investments have exceeded $10 million for twelve years. While there were also 10 shutdowns, 21 of them of the 41 companies receiving funding were new additions to TCA's portfolio, representing 72% of investments, compared to 48% in 2021.[17]

In January 2024, Tech Coast Angels renamed itself TCA Venture Group, to reflect that its investments are much broader than just technology and that over 50% of its recent investments have been outside Southern California.[18]

Company exits

[edit]

TCA has had eleven IPOs and over 106 exits in total.[19] Four of those (Procore, Mindbody, Greendot and Sandpiper Networks) achieved multiples between 149x and 368x.[20][21] TCA's successful exits include:

  • Procore Technologies (construction management SAAS)[22]
  • Mindbody (wellness business services software)[23]
  • Green Dot Corporation (over-the-counter prepaid debit card)
  • Sandpiper Networks (internet infrastructure)
  • Truecar (automotive lead generation)
  • Companion Medical (smart insulin pen system paired with diabetes management app)
  • FinDox (compliance tool for institutional investors)
  • Leaselock (sells Certificates of Guarantee promising rent when tenant defaults)
  • BlueBeam Software (PDF collaboration software)[24]
  • One Stop Systems (manufactures Computers for Industrial Applications)
  • Parcel Pending (electronic Smart Locker storage system for multi-family housing)
  • Annex Cloud (SaaS based social platform for online retailers to monetize social media)
  • Kalyra Pharmaceuticals (oil substitute, made from waste beef tallow)
  • Green Earth Technologies (oil substitute made from waste beef tallow)
  • Casestack (integrated logistics outsourcing)
  • EV Connect Inc (electric car battery charging solution)[25]
  • Lytx (Drivecam (video event recorder for driver feedback safety)[26]
  • Cytom X Therapeutics (antibody therapeutics for a variety of serious diseases including cancer)[27]
  • Beam Global (portable solar EV charging station with no grid ties)
  • WiseWindow (open qualitative content aggregation platform)[28]
  • Vital Therapies (liver assist device)[29]
  • Language Weaver (machine translation software)
  • Doctible (cash-based healthcare network to shop for healthcare)
  • WeGoLook (dispatches in-person Lookers to verify claims made by internet sellers)
  • Portfolium (online social portfolio network)
  • AIRSIS (remote asset tracking & management)[30]
  • Retrosense Therapeutics (biologic approach to vision restoration in retinal degenerative conditions)
  • Althea (cGMP manufacturing, analytical development, aseptic filling)[31]
  • N Spine (spine stability system)[32]
  • OptionEase (stock option audit financial software)[33]
  • VCP (Platform for debit card, credit card and wellness programs for veterinarians and dentists)
  • Discover Echo (world's first hybrid hi-res digital microscope)
  • Insight Medical (computer assisted surgery in orthopedic procedures)
  • LendAmend LLC (online solution for loan amendment)
  • Greenplum (intelligent data routing systems)
  • Savara Pharmaceuticals (inhalable antibiotic for the treatment of MRSA in Cystic Fibrosis patients)
  • ClearCare (management of home care agencies)
  • Cognition Therapeutics Inc (memory restoration for Alzheimer's)
  • Pictage.com (online event photography services)[34]
  • eTeamz (B2C Amateur Athletic Community)
  • Trius Therapeutics (antimicrobial drug)[35]
  • Olive Medical (HD surgical camera)[36]
  • Controltec, Inc. (ASP for Subsidized Child Care)
  • Molecular Medicine BioServices (contract clinical manufacturer)[37]
  • Allylix (artificial fragrance production)[38]

In addition to the 106 exits, 141 companies in the portfolio were shutdowns with no returns. Based on all outcomes to date, TCA's portfolio has returned 6.4 times invested capital, and achieved an IRR of 25% on its portfolio.[39]

Investment portfolio

[edit]

The TCA investment portfolio page lists investments in general categories such as Life Sciences, Internet and Apps, Software, Consumer, CleanTech and Industrials, Hardware, Financial, and Business.[40] Active portfolio companies include:

  • Apeel Sciences (tasteless edible coatings for fresh produce)
  • The Bouqs Company (Online Flower Shopping)
  • Cloudbeds (SAAS Hotel Hospitality Management Software)
  • ElephantDrive (storage-as-a-service software)
  • Kickstart (Cadence Biomedical) (helps people with severe disabilities walk)
  • myLAB Box (testing for STDs from the comfort of home)
  • Ninja Metrics (measures social influence)
  • PharmaSecure (mass serialization codes for products in emerging markets)
  • Ranker (UGC – social platform for ranking things)
  • YouMail (voice messaging for cell phones)

References

[edit]
  1. ^ "Angel Capital Association Directory". Angel Capital Association.
  2. ^ socalTECH (October 18, 2013). "Southern California Tech Companies Raise $709.8M In Q3".
  3. ^ a b Freeman, Mike. "Investor network Tech Coast Angels pumped $14.2 million into start-ups last year". sandiegouniontribune.com. Retrieved 2018-09-21.
  4. ^ "Ranking Angel Investment Groups". CB Insights. August 13, 2014. Retrieved June 10, 2016.
  5. ^ "Who is TCA". Retrieved March 24, 2024.
  6. ^ "Luis Villalobos award". Retrieved March 24, 2024.
  7. ^ Klein, Karen E. (12 June 2009). "Perfecting the Fund-Raising Pitch". Bloomberg.com. Bloomberg BusinessWeek.
  8. ^ Tech Coast Angels (12 September 2010). "7 P's of Investor Presentations". SlideShare.
  9. ^ Austin, Scott (January 11, 2010). "How To Pitch A Venture Capitalist On A Napkin". Wall Street Journal.
  10. ^ Venture Capital Dispatch (August 2, 2010). "The Magic 8-Ball of Angel Investing". Wall Street Journal.
  11. ^ Perloff, David & Sherman, Pat (October 2, 2011). "Cashing In San Diego investors write personal checks to propel local entrepreneurs". Pacific San Diego Magazine.
  12. ^ Somers, Terri. "San Diego angels lend financial wings to entrepreneurs needing cash". San Diego Union Tribune.
  13. ^ Norman, Jan (14 September 2009). "Local investors seek to jumpstart new O.C. ventures". The Orange County Register.
  14. ^ "Tech Coast Angels and Pasadena Angels Join Forces". January 18, 2022.
  15. ^ "Alliance Between Tech Coast Angels and MEDA Angels Expands Investment Opportunities, Deal Flow and Provides Additional Capital". March 29, 2022.
  16. ^ "Undeterred by the Pandemic, Tech Coast Angels-Los Angeles Chapter Wraps Up a Successful 2020". PR Web. December 19, 2020. Retrieved December 19, 2020.
  17. ^ "Tech Coast Angels Invested $15.4 Million in 41 Companies and Realized Highest-Ever Number of Exits in 2022". PRWeb. Retrieved 2023-07-27.
  18. ^ "Tech Coast Angels Unveils TCA Venture Group". TCA Venture Group. January 17, 2024.
  19. ^ "Tech Coast Angel Portfolio". Tech Coast Angels. Retrieved June 10, 2016.
  20. ^ Hardy, Quentin (October 28, 2002). "Where Angels Dare to Tread". Forbes. Archived from the original on November 15, 2002.
  21. ^ "Green Dot Sets Pricing Range". socalTECH.
  22. ^ "Construction tech firm Procore valued at $11 bln in solid market debut". May 20, 2021.
  23. ^ "Mindbody IPO is the 'Uber of Wellness'". Fox Business. June 19, 2015. Retrieved June 10, 2016.
  24. ^ "Nemetschek Acquires Bluebeam Software". Bluebeam. October 3, 2014. Retrieved June 10, 2016.
  25. ^ "EV Connect Acquired by Schneider Electric to Accelerate EV Revolution". June 21, 2022.
  26. ^ "GTCR Announces Acquisition of Lytx". PR Newswire. February 18, 2016. Retrieved June 10, 2016.
  27. ^ "No Drug Yet In Clinic, But CytomX Raises $80M In Discounted IPO". Xconomy. October 8, 2015. Retrieved June 10, 2016.
  28. ^ "KPMG Acquires WiseWindow". SocialMedia Analysis. April 29, 2012. Retrieved June 10, 2016.
  29. ^ "Vital Therapies banks $54M in a downsized IPO retry". FierceBiotech. April 17, 2014. Retrieved June 10, 2016.
  30. ^ "Oceaneering Announces Acquisition of AIRSIS". PR Newswire. June 2, 2014. Retrieved June 10, 2016.
  31. ^ "Ajinomoto Co., Inc. agrees to acquire Althea Technologies, Inc". Ajinimoto Co. March 6, 2013. Retrieved June 10, 2016.
  32. ^ "Swiss Synthes buys U.S. N Spine for around $75 mln". Reuters. November 13, 2007. Retrieved June 10, 2016.
  33. ^ "Solium Capital Inc. Announces Acquisition of Optionease, Inc". Solium Capital. October 8, 2012. Retrieved June 10, 2016.
  34. ^ "Apax Partners Invests $29 Million in Pictage, Inc., The Leading Provider of Online Solutions For Professional Wedding and Portrait Photographers". PR Newswire. March 2, 2006. Retrieved June 10, 2016.
  35. ^ "Cubist Adds Antibiotic Punch, Buys Trius and Optimer for $1.24B". Xconomy. July 30, 2013. Retrieved June 10, 2016.
  36. ^ "Depuy Synthes Companies Acquires Olive Medical Corporation". Johnson & Johnson. February 10, 2015. Retrieved June 10, 2016.
  37. ^ "Sigma-Aldrich Acquires Molecular Medicine BioServices to Expand SAFC Pharma Capabilities". PR Newswire. May 8, 2007. Retrieved June 10, 2016.
  38. ^ "Evolva to acquire Allylix". Evolva. November 18, 2014. Retrieved June 10, 2016.
  39. ^ "Tech Coast Angels Performance". Tech Coast Angels. 2016. Retrieved June 10, 2016.
  40. ^ TCA website. Tech Coast Angels Investment Portfolio.
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