Irvine-based Tech Coast Angels has launched a new Angel Capital Entrepreneurial – or ACE – Fund that operates through a review structure designed to fast-track the investment process.
Photo by Alex – Fotolia
The structure “gives us more fire power and the ability to move quickly on what we evaluate as excellent business opportunities,” said TCA Chairman Emeritus Dave Berkus. “In fact, the fund's first investment in Vokle, a unique online event platform, was completed in seven days."
An elected five-member deal committee meets at least twice a month to review investment opportunities, then takes the deals they believe are exceptionally promising to the board for a vote. In some cases, the funding can be completed in a week.
The ACE Fund’s interest is focused on early stage entrepreneurial enterprises that demonstrate game-changing ideas, strength of management and market growth potential. Tech Coast Angels members mentor the companies that are awarded funding and participate in day-to-day activities.
Tech Coast Angels is the nation’s largest angel investor group. It provides funding for companies in a wide range of industries, including life sciences, biotech, IT, retail and consumer products.
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