| Angel Investor Group Profile |
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Considered as the largest angel network in the United States, Tech Coast Angels had already invested an estimate of $85M in over 128 companies and continues to attract more than $850M worth of additional funding through its portfolio companies from venture capitalist firms and investors. The group aims to support start-up companies in Southern California that have huge potential for growth, sustainable gross margins, and wide market opportunities by providing seed capital and expert counsel from its pool of elite members. TCA currently has 270 members of successful entrepreneurs and business tycoons whose vision is to foster the growth of start-up companies in the industry. Management and operations are divided into four networks: San Diego, Orange County, Los Angeles, and Santa Barbara/Westlake Village.
Aside from the criteria aforementioned, TCA values entrepreneurs who can develop attainable profit-generating strategies to reach at least $50M to $100M in yearly sales and revenues. Preferred start-ups are those with proprietary technology and efficient management team to support the business. A clear and concise discussion of these factors, along with company valuation and a prepared exit strategy, must be presented in the executive summary. Accordingly, prospective companies should be based in Southern California to be considered for application.
TCA members likewise look for start-ups that can show how the initial investment, roughly around $1M-$2M, shall be used for the company's growth and proliferation of resources. This criterion involves service or product development, reduction of business risks, extensive market study, and contract agreements. Minimum amount of initial investment, depending on the qualification of a company, is $25,000.
TCA receives almost 1000 funding applications annually and only one-fourth of it goes through the screening process. From there, ten percent of the companies enters the due diligence process of members. Interested entrepreneurs are required to fill up a Funding Application Form available on the website and to submit a 20-30 slides of PowerPoint presentation that will serve as an executive summary of the company. As suggested by the number of annual applications, TCA's selection process is critical and a comprehensive discussion of the network's screening procedure is elaborated on its official website. In addition, TCA normally provides investment funds to ten to twenty start-up companies every year.
Furthermore, start-ups are reminded that TCA does not sign confidentiality or non-disclosure agreements (NDAs) for proposals sent beforehand. It is the entrepreneur's responsibility to exclude proprietary information in the PowerPoint presentation and business plan that can affect the company. However, certain agreements are negotiable to TCA members upon a sufficient time frame and business information held by the group.
Tech Coast Angels's Website
Engaging and informative, the Tech Coast Angels website promotes better understanding of the angel financing investment in the country. Start-up entrepreneurs looking for seed capital are given clear and detailed guidelines concerning investment criteria, funding process, and screening procedures. In addition, a PDF file of TCA Presentation Guidelines are available for free to further equip start-ups with their initial proposals.
The site includes links and articles about upcoming business events, programs, and press releases from the TCA networks. Multiple folders are also available in the home page that contain information regarding the group's regional networks, community development reports, and countless news articles in angel financing and venture capital funds. The Media Center provides files of member profiles, testimonials of portfolio companies, and a TCA Brochure which are all available for download.
The Network Contacts page allow feedback and related queries from entrepreneurs and accredited investors who wish to become a member of TCA. Contact information for different networks are included as well as email addresses of TCA officers for specific inquiries.
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