Annual Report 2025 (Tech Coast Angels)
Summary
- TCA invested $9.0 million in 43 companies during 2025, up from $6.8 million in 37 companies in 2024.p.2
- TCA VG ended 2025 with 309 Members and deployed network funds that invested $2.6 million into deals.p.2
- Since inception in 1997, TCA has invested $315 million across 594 companies.p.2
- Cumulative returns across all outcomes since 1997 reached a 5.3x multiple with an IRR of 22%.p.2
- Investments with TCA VG member board representation increased to 66% in 2025 from 36% in 2024.p.2
- Life Sciences was the largest sector invested in during 2025, accounting for 31% of the total dollar amount.p.6
Key insights
- Portfolio companies with TCA VG Board Members or Observers achieved 14 times higher MOIC compared to those without board representation.p.2
- The median total round size in 2025 for new investments increased to $2.0 million from $1.5 million in 2024.p.11
- Network funds contributed $2.6 million in capital alongside $6.4 million in direct member investments in 2025.p.13
- TCA maintained a 15-year streak of annual total investments at or above $10 million.p.9
- More than 50% of TCA investments in 2025 were made outside Southern California due to virtual screening and broader syndication.p.24
- Preferred Equity represented 49% of total dollars invested by TCA in 2025.p.29
- Funding going to companies led by experienced CEOs rose to 69% in 2025, up from 36% in 2023.p.38
- AI was involved in 74% of TCA VG's portfolio investments during 2025, led by Core AI at 39%.p.37
Investors in this report
Topics and entities
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