IRVINE, Calif., Feb. 22, 2011 /PRNewswire/ -- Tech Coast Angels (TCA), the nation's largest angel investment network, today announced it funded 31 investments, including 12 new deals and 19 follow-on investments in a broad range of start-up businesses, demonstrating its angel investment leadership. TCA raised over $40 million of total investment for its entrepreneurial companies, including over $6 million through direct TCA investment and approximately $33.9 million through other sources of venture and angel capital. The total number of investments is up significantly from 2009 when 24 deals were completed. In addition, 2010 marked a year of profitable exits for TCA portfolio companies, including an IPO for Green Dot Corporation that yielded over 100x return for early investors, the acquisition of Language Weaver Inc. by SDL for $42.5 million, and an IPO for Trius Therapeutics.
"This past year was a dynamic time in our history. Coming out of an economic recession, we turned the tide and invested in more innovative, game-changing entrepreneurial companies and experienced several profitable exits. This is the result of our commitment to making the angel funding process faster, easier and more accessible to entrepreneurs to generate more investment. We've streamlined the process and added new events and opportunities for entrepreneurs to connect with our members," said Mike Napoli, Chairman, Tech Coast Angels. "The entrepreneurial community in Southern California is growing dramatically and Tech Coast Angels is committed to identifying the brightest, most innovative new companies and fostering their growth through both capital investment and mentoring leadership. Already, 2011 is shaping up to continue on this upward trend."
This year's investment portfolio represented companies in a wide number of growth industries
|SOURCE Tech Coast Angels|
Copyright©2010 PR Newswire.
All rights reserved