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 Invested $15.4 Million in 41 Companies and Realized Highest-Ever Number of Exits in 2022
  • USA - English


News provided by

Tech Coast Angels

May 16, 2023, 10:00 ET

Share this article

Share toX

Share this article

Share toX

Tech Coast Angels released its 2022 Annual Report today. The angel network noted a "year of change" with new licensing initiatives and chapters, and posted total investments exceeding $10 million for twelve consecutive years -- the longest sustained level of high investment activity in TCA's history.

IRVINE, Calif., May 16, 2023 /PRNewswire-PRWeb/ -- Tech Coast Angels (TCA) members invested $15.4 million in a total of 41 companies in 2022, as noted in its 2022 Annual Report released today. The angel network announced a new licensing initiative that welcomed two esteemed angel groups, Pasadena Angels and MEDA Angels, as members of the TCA super angel network. These groups bring their unique wisdom to TCA: MEDA Angels is a specialty investment group comprising medical professionals, academics, and scientists; Pasadena Angels brings expertise in emergent and early-stage technology.

TCA's total investments have exceeded $10 million for twelve years (from 2011 – 2022), which is the longest sustained level of high investment activity in TCA's history.

TCA posted 13 exits in 2022, with 11 acquisitions, one buyout, and one IPO (initial public offering). Five exits realized returns to members between 10x and 34x. Of its 525 total number of investments since TCA's inception in 1997, 53% (279) of the companies are still active. There have been 106 exits, and the overall return on all outcomes (including shutdowns) is 6.4x on the initial investments. While exits were at a record-high in 2022, there were also 10 shutdowns.

Twenty-one of the 41 companies receiving funding were new additions to TCA's portfolio, representing 72% of investments, compared to 48% in 2021. While the angel network continued to fund a range of industries, life sciences (medical devices, medical diagnostics, pharma, and digital health) was the largest sector of dollars invested in 2022 (41%), followed by software (37%). Seed rounds continue to be the focus of TCA funding, with 68% of deals and 76% of investments in 2022, compared to 2021 respective percentages of 58% and 67%.

While Southern California remained TCA's geographical focus, representing 49% of 2022 investment dollars and 46% of companies funded, for the first time TCA's reach into other parts of the country and internationally exceeded the investment in local companies. This was due in part to our new licensees, and the ability of TCA networks to build relationships with other angel and investment groups through syndication through initiatives such as the Angel Syndication Network which TCA launched in 2016 and now includes over 60 leading Angel Groups across the country.

TCA's diversity initiative is gaining traction: 29% of CEOs received funding in 2022 identified as non-white, up from 23% in 2021, and companies with female CEOs increased to 20% from 15% in 2021. Two of TCA's network presidents are female. TCA continues to strive for more inclusive investments and membership opportunities.

TCA reported 410 members at year-end. This large base of active, knowledgeable and experienced members enables the angel network to provide 30-day due diligence on most funding decisions. TCA members continue to play an important role in the mentorship of its active portfolio companies and serving on portfolio company boards, while leveraging connections with other investment and operations opportunities.

Three of TCA's networks have sidecar funds that grew relative to the previous year, and a total of $5.2 million was invested by these funds in 2022; this was in addition to $10.2 million in direct investment by individual TCA members in 2022, comparable to the previous two years. Twenty-six of TCA's 41 deals in 2022 received investment from at least one network fund. In addition to incremental funding for entrepreneurs, these funds help members achieve the benefits of greater portfolio diversification.

"2022 was a year of significant change, not just for us, but for the entrepreneurial ecosystem and we see that 2023 is proving to be an even more transitional environment," said TCA chairman David Friedman. "While the high investments in recent years showcase a strong pipeline of opportunities, we recognize that investments will be harder to attain for entrepreneurs and they should be realistic and well-prepared regarding valuations and spending. Seek investors with the experience to navigate through this uncertain time and listen to their counsel. Very good companies with really good ideas will survive and flourish. TCA, with the capital it has through its several funds and its large investor base, can provide the funding and expertise to help our portfolio companies attain success.

"Investors and other smaller angel groups may want to join TCA to access deal flow and gain expertise through other accredited investors' knowledge and may want to diversify and invest in funds," Friedman continued. "It's a good time to connect with and learn from other angels; the Angel Capital Association hosts webinars and learning opportunities that are very beneficial. And I can't stress enough that patience is vital: best exit returns occur five or more years after funding while failures often happen within the first two-to-five years after investment. Investing through funds and developing a diverse portfolio are keys to long term financial success."

TCA's 2022 Annual Report is available at https://www.techcoastangels.com/wp-content/uploads/2023/05/TCA-Annual-Report-2022-final.pdf. The report includes a summary of TCA's activity in 2022, comprehensive detail about investments and chapter funds, TCA's portfolio companies and exits, advice going forward for entrepreneurs and investors, and much more thought-provoking information.

About Tech Coast Angels:

Founded in 1997, Tech Coast Angels (TCA) has invested more than $270 million in more than 525 companies and has helped attract more than $2.2 billion in additional capital/follow-on rounds. One of the largest and most active angel investor groups in the nation, TCA has steadily remained one of the top three angel groups nationally--in number of funded deals, amounts invested in those companies, and number of members--for over two decades. From 2019 - 2022, TCA invested $15 - 21 million in 40 - 55 companies each year.

The Tech Coast Angels network is comprised of more than 400 members within five networks: TCA Los Angeles, TCA Orange County, TCA Inland Empire, and licensees including Pasadena Angels and MEDA Angels. TCA is a leading source of funding for seed-stage and early-stage companies, and its members are founders and business leaders, all accredited investors with extensive knowledge in the investment process and world-class business practices. That real-world experience allows TCA members to provide companies with benefits beyond capital: counsel, mentoring, board advisors, and access to an extensive network of investors and other resources. Connect with Tech Coast Angels on its website, and on Twitter, Facebook, and LinkedIn.

Contact:
Kimber Smith Fidler
For Tech Coast Angels
kimber(at)smithfidler.com

###

Media Contact

Kimber Smith Fidler, Tech Coast Angels, 1 775 298 5260, [email protected]

SOURCE Tech Coast Angels

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.