Season’s greetings to all TCA members.
As 2011 comes to a close I would like to provide you with some TCA highlights from this past year.
We have increased our metrics by all measures!
At the beginning of the year we had 257 members. We are closing the year out with approximately 304 members. That’s an amazing increase. I must note that the San Diego Network has 104 members of that total. Congratulations San Diego for crossing the century mark!
Another whopping increase occurred in the number of funding applications to the TCA website. 2011 saw 1004 applications vs. 603 in 2010. I attribute some of the increase to the revised and shortened funding application and the heavy volume of networking activity across all Networks.
A few more numbers: (not final yet – we will have final numbers by the end of January)
In 2011 we funded 29 deals (15 new + 14 follow-on) for a total investment amount of approximately $30 million.
Number of new deals:
2010 – 11
2011 – 15
Dollars invested in new deals:
2010 – $6.2M
2011 – $7.1M
TCA members have invested in 187 deals since the inception of the TCA, with $116M coming from TCA and $1.4B total (including VC’s and other investors).
There were significant accomplishments in many other areas as well during 2011:
- Our “Deal Syndication” efforts both inbound and outbound were greatly enhanced
- The “Industry Specific” pre-screening panels continue to improve and are speeding up the processing of funding applications. We are getting entrepreneurs into the right hands at the TCA much sooner in the process than before.
- Successful fund raising and closing of the ACE Fund
- Development of new TCA website (due to be released in Q1 2012)
- We now have a process in place for “Seed Track” companies
- Increases in both PR and Marketing activity
- Increase in Networking events
I was able to meet with several angel groups outside of California this year and I will tell you that our reputation across the country with our peers is stellar. Being the largest and one of the most well respected angel groups in the U.S. has many of the others wanting our advice on a variety of issues. Thanks is due to all TCA members and your involvement in TCA activities that help improve the reputation of our brand. It greatly helps the quality and quantity of our deal flow and syndication activities.
I would like to give a special thanks for the many volunteer hours put in by the TCA Board of Directors, Executive Committee/ Board members at the Networks, Deal leads, Pre-screeening panel leads and members, Quick/Fast Pitch volunteers and the other that gave of their time to keep the TCA in the limelight as one of the best in the country. Also thanks to Kim, Robin (Linda, Mark and Oliver in SD), Renee and Kate for keeping it all together and running efficiently.
Please support Steve Flaim (SD) our new TCA Chairman for 2012 as we continue to address our challenges, improve and grow.
Wishing you all the best in the coming New Year!
Cheers!
Michael Napoli, Chairman
Tech Coast Angels, Board of Directors
