Accessibility Statement Skip Navigation
  • Why PRWeb
  • How It Works
  • Who Uses It
  • Pricing
  • Login
  • GDPR
  • Create a Free Account
Return to PRWeb homepage
  • News
  • Resources
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All News Releases
      • Multimedia Gallery

      • All Multimedia
      • All Photos
      • All Videos
  • Business & Money
      • Auto & Transportation

      • Aerospace, Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads and Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking and Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers and Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalization
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls and Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil and Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defense
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation and Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking and Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers and Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines and Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics and Personal Care
      • Fashion
      • Food & Beverages
      • Furniture and Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewelry
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks and Tourist Attractions
      • Gambling & Casinos
      • Hotels and Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Advocacy Group Opinion
      • Animal Welfare
      • Congressional & Presidential Campaigns
      • Corporate Social Responsibility
      • Domestic Policy
      • Economic News, Trends, Analysis
      • Education
      • Environmental
      • European Government
      • FDA Approval
      • Federal and State Legislation
      • Federal Executive Branch & Agency
      • Foreign Policy & International Affairs
      • Homeland Security
      • Labor & Union
      • Legal Issues
      • Natural Disasters
      • Not For Profit
      • Patent Law
      • Public Safety
      • Trade Policy
      • U.S. State Policy
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Hamburger menu
  • Cision PRWeb provides efficient communication tools to continuously engage with target audiences across multiple online channels
  • Create a Free Account
    • ALL CONTACT INFO
    • Contact Us


      11AM ET Sunday – 8PM ET Friday

  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • News in Focus
    • Browse All News
    • Multimedia Gallery
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR

Tech Coast Angels' ACE Fund II Unlocks Investment Opportunities in Flyover States
  • USA - English


News provided by

Tech Coast Angels

Feb 16, 2017, 12:40 ET

Share this article

Share toX

Share this article

Share toX

Tech Coast Angels
Tech Coast Angels

Irvine, California (PRWEB) February 16, 2017 -- Tech Coast Angels’ (TCA) ACE Fund II recently announced a very successful exit that was unique in three ways: the time to exit was very short (two years); the exit had a very high return (7.8x); and the company was based in the heart of flyover country: Oklahoma.

"Entrepreneurs and private investors in flyover states don’t have the need—or the huge pressure—to have to hit a home run...they are satisfied with a base hit. And that means quicker exits for angel investors." - Ray Chan, Managing Partner, TCA ACE Fund

Post this

The West Coast and the East Coast US are known around the world as ecosystems for innovators: entrepreneurs, incubators, and unicorns abound--from Seattle to San Diego, from Boston to Boca Raton. Both coasts are where a disproportionate amount of risk capital--such as angel and pre-seed investing—goes into small businesses and startups.

But landlocked, flyover states also have terrific small businesses very worthy of private investment. Great companies and great deals can be found anywhere, say Dave Berkus and Raymond Chan, active investors in TCA’s ACE Fund.

Berkus, superangel and author, met with the founders of WeGoLook when he was in Oklahoma to deliver a keynote speech to over 400 entrepreneurs at the invitation of the Oklahoma Angels and Oklahoma’s venture fund, I2e. He was asked by the venture fund to review five companies, and within ten minutes of his meeting with WeGoLook’s founders, he said, “I want to invest.” The founders told him they were already fully invested and had closed the round.

But they were willing to listen, and by the end of the day, WeGoLook’s founders liked what they heard from Berkus, and re-opened the round to accept another $100,000 investment from Tech Coast Angels’ ACE Fund II. Within a year, the angel network had more than doubled its investment in the company.

WeGoLook is a platform or value exchange that connects individuals and companies with on-demand investigators or “lookers” to inspect or verify conditions in remote or inconvenient locations. Some examples are property inspections, auction item verifications and notary services. One major insurance company now uses WeGoLook’s agents for accidents in areas far from a claims department.

Because investment opportunities between the east and west coasts are more rare and not inflated, WeGoLook had a very low pre-money valuation. In just over two years, the company was sold for over $42.5 million, and TCA’s ACE Fund II members received a 7.8x return on their over $200,000 investment.

“WeGoLook’s platform struck me as being so different and on target,” said Berkus. “The attraction was so obvious; undervalued and yet very attractive. On the West Coast, this kind of deal would have been prevalued so much higher, and the exit would have taken so much longer.”

Chan, managing partner of TCA’s ACE Fund I, II and III agrees. “It is all too common on the two coasts, due to pressure and expectations for every startup to be the next ‘unicorn,’ for both a company and its investors to hold out for a longer time to offset a higher purchase price. Entrepreneurs and private investors in flyover states don’t have the need—or the huge pressure—to have to hit a home run every time; they are satisfied with a base hit. And that means quicker exits for angel investors.”

“Although one of our tenets in the ACE Fund is that we prefer deals that are quick to return, WeGoLook is very rare,” continued Berkus. “Most angel investments take years. Seven years is what’s considered an average amount of time to achieve liquidity. WeGoLook had an extremely successful exit in an extremely short period of time – just over two years.”

“Becoming a member of an angel network helps an angel do the things you might not be able to do on your own,” concluded Chan. “There truly is a wisdom in the crowd. Our members have expertise in so many fields and therefore, as a whole, our group can seek better opportunities—from syndicated deals with other angel networks and shared due diligence to expanding reach and discovering a great startup in a flyover state.”

About Tech Coast Angels:
Tech Coast Angels (TCA) is one of the largest and most active angel investor networks in the nation, and a leading source of funding for seed-stage and early-stage companies across all industries in Southern California. TCA members are accredited investors who collectively invest in startup companies in the range of $250k to $2M as a group. The companies TCA invest in go through well-structured, transparent, and time efficient screening and due diligence. TCA members are themselves founders and executive level business leaders who have extensive knowledge in the investment process and world-class business practices. TCA members thus provide companies with more than just capital; they also contribute counsel, mentoring and access to an extensive network of investors, customers, strategic partners and management.

TCA is a catalyst in the growth of the thriving Southern California entrepreneurial ecosystem of innovation, funding mostly emerging technologies and life science companies. The most recent Halo Report rated TCA as #2 nationally in a number of funded deals. A recent analysis by CB Insights ranked TCA #1 out of 370 angel groups on “Network Centrality” and #5 overall in “Investor Mosaic.” Since its founding in 1997, TCA has invested over $190 million in more than 330 companies and has helped attract more than $1.5 billion in additional capital/follow-on rounds, mostly from venture capital firms. For more information, please visit http://www.techcoastangels.com.

About Tech Coast Angels’ ACE Fund: TCA created the Angel Capital Entrepreneur (ACE) Fund as an investment opportunity to both accredited individuals and institutional investors. The ACE Fund provides investors with the opportunity to participate in a diverse pool of dynamic early stage companies selected utilizing the vast expertise and experience of the TCA and its membership. The ACE Fund focuses on companies with early exit potential providing investors with early liquidity. The ACE Fund also has a very low fee structure relative to other investments in this category. One of the most important benefits for members of the ACE Fund is access to deals closed to angel networks such as TCA because they may have been oversubscribed, or are from geographic areas not visible to TCA or its partners. For more information, please contact ACE2(at)techcoastangels(dot)com.

Kimber Smith Fidler, Tech Coast Angels, http://www.techcoastangels.com, +1 (714) 267-0219, [email protected]

Modal title

Contact PRWeb

  • 11AM ET Sunday – 8PM ET Friday
  • Contact Us

About PRWeb

  • About PRWeb
  • Partners
  • Partnership Programs
  • Editorial Guidelines
  • Resources

Why PRWeb

  • Why PRWeb
  • How It Works
  • Who Uses It
  • Pricing

Accounts

  • Create a Free Account
  • Log in
  • Contact Us

Do not sell or share my personal information:

  • Submit via [email protected] 
  • Call Privacy toll-free: 877-297-8921

Contact Cision

Products

About

My Services
  • All News Releases
  • Online Member Center
  • ProfNet
Cision Distribution Helpline
888-776-0942
  • Legal
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 Cision US Inc.