"Financing 100 companies is a huge accomplishment and TCA's portfolio reflects the diversity and vitality of startup and early-stage companies in Southern California," said Luis Villalobos, TCA founder. "When TCA was founded in 1997, we never imagined we would reach this milestone in only eight years or have more than 270 members across four networks throughout the region."
TCA Members Expand Portfolio
In 2005, TCA members invested in a diverse group of companies across multiple industries. Highlights of first-round investments include:
-- Innozen, a Woodland Hills-based provider of quick-dissolve strips for the delivery of over-the-counter medicines, received almost $3M in Series A funding, including more than $1.5M from TCA members.
-- Progressive Beverages, a Culver City-based beverage marketing firm, received $1.75M in Series A funding, including more than $500K from TCA members.
-- Heartland Resource Technologies, a Pasadena-based provider of soy protein-based adhesives, received more than $1.5M in Series A funding, including more than $1M from TCA members.
-- Make It Work, the Santa Barbara-based neighborhood computer support company, received more than $1M in Series A funding from TCA members.
-- Airsis, a San Diego-based provider of remote asset management solutions, received $1M in Series A funding, including more than $500K from TCA members.
-- Coda Genomics, an Irvine-based synthetic biology and protein expression company, received more than $800K in Series A funding, including more than $700K from TCA members.
Other companies receiving funds from TCA members and other outside investors this year include: Cadforce, Docufide, Integrien, LandRoller, LeisureLink, Maxmed Technologies, Mind Body Software, Molecular Medicine BioServices, Luxim, Orion Data Analysis, Orfid Corp., Planetwide Games/Blue Torch, RegeneMed, Tri-D Systems and Velocity Networks/Media Matchmaker.
VC Firms Increase Investments in TCA Companies
Several companies in TCA's portfolio received significant investments from venture capital firms and other outside investors so far this year. Companies include:
-- CaseStack, a Santa Monica-based provider of complete outsourced logistics solutions to mid-sized consumer packaged goods companies, received $20M.
-- DriveCam, a San Diego-based provider of knowledge-based systems that improve driving behavior, secured $18M in Series B financing.
-- Vital Therapies, a San Diego-based provider of important metabolic support for patients with severe liver failure, received $8M in Series B financing.
-- WiSpry, an Irvine-based provider of tunable radio frequency technology, secured $6.5M in Series A financing.
-- Integrien, an Irvine-based provider of integrity management software, received $6.5M in Series A financing.
"The growth in venture capital investments in TCA portfolio companies this year demonstrates our role in providing an increasing share of the region's startup financings," said John Morris, TCA's chairman and managing director at GKM Ventures. "Our portfolio will continue to attract increased amounts of venture capital at attractive valuations as TCA's new investments are tracking closely what the venture capital community is looking to fund."
TCA completes 2005 with the successful expansion of its Westlake/Santa Barbara network. Launched in February, the group now has 41 members, six sponsors and two venture capital affiliates. In recent months, the chapter has led or played a significant role in funding three local companies: Innozen, Make It Work and Mind Body Software. The network will continue to expand in 2006 and plans to add 15 new members and increase funding of startup and early-stage companies in the 101 Tech Corridor.
For more information on Tech Coast Angels, visit www.techcoastangels.com.
About Tech Coast Angels
The Tech Coast Angels, www.techcoastangels.com, is the largest angel investor network in the United States, and provides funding and guidance to more early-stage, high-growth companies in Southern California than any other venture capital, angel or other private equity group. Since its inception in 1997, TCA members have personally invested more than $66 million in 103 companies and have helped portfolio companies attract $613 million in additional capital, mostly from venture capital firms. As a value-add, seed and early-stage investment group, TCA offers companies much more than capital. Members also mentor and coach entrepreneurs, help recruit additional management, and provide access to institutional investors and strategic partners. TCA has more than 270 members in its four networks in Los Angeles, Orange County, San Diego and Westlake/Santa Barbara.
(1) Based on data from PWC Money Tree