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Monday, Apr 22, 2024

Tech Coast Angels Reaches $100 million Milestone

Tech Coast Angels, an angel investment network that provides start-up funding for companies in Southern California, announced its members have invested a total of $100 million since the group’s inception in 1997. Companies that recently received first-time investments or follow-on rounds include Bikestation, MicroPower and eGuardian. The $100 million milestone represents funding, mentoring, expertise, and industry contacts group members have provided to more than 150 California-based companies. Tech Coast Angels provided 15 first-time financings and 16 follow-on rounds in 2008, compared to12 first-time financings and 14 follow-on rounds in 2007. The investments helped attract more than $1 billion in additional capital. The group invests in industries such as life sciences, software, Internet, biotechnology, media, business services, and consumer products. It has more than 250 members in five chapters across Southern California including ones in Los Angeles, Orange County, San Diego, Westlake/Santa Barbara, and the Inland Empire.

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