Annual Report 2018 (Tech Coast Angels)
Summary
- Tech Coast Angels invested $10.8 million across 53 companies in 2018.p.2
- New portfolio companies received 76% of the total dollar investment in 2018, compared to 57% in 2017.p.3
- Life Sciences was the largest sector with 15 companies invested, followed by 13 companies in Software.p.4
- Tech Coast Angels recorded six exits in 2018 and maintained a 4.9x return on all outcomes since 1997.p.5
- The Angel Syndication Network helped 48% of presenting companies receive additional funding totaling $7 million.p.10
- Seed and pre-Series A rounds accounted for 89% of investments in 2018, with Seed representing 76% of total dollars invested.p.14
Key insights
- Membership at Tech Coast Angels grew from 337 at year-end 2017 to 411 by year-end 2018.p.2
- Total annual investment fell to $10.8 million in 2018 due to concerns over high valuations and cyclical financing risk.p.3
- Tourmaline Labs was the largest investment deal in 2018, receiving $1.6 million from Tech Coast Angels.p.8
- Participating angel groups in the Angel Syndication Network represent over 1,500 angels and more than $1 billion in direct investment.p.10
- Investments outside Southern California accounted for 24% of new investments in 2018.p.12
- Convertible notes comprised 60% of total investment in 2018, while preferred equity made up 31%.p.15
- Median valuation for portfolio companies rose to $6.0 million in 2018, up from $4.5 million in 2016 and 2017.p.16
Investors in this report
Topics and entities
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