Independent rating of Tech Coast Angels San Diego VC fund
Overall rating:
12 reviews
About Tech Coast Angels San Diego VC fund
Website:
Number of funds:
1
Number of investments:
4
Number of exits:
1
Headquarters:
Organization type:
Venture Capital
How Tech Coast Angels San Diego VC fund invests
Rounds:
Average ticket size:
364K USD
Smallest investment:
286K USD
Biggest investment:
571K USD
Would lead round:
Yes
Would coinvest:
Yes
Countries where invested:
Sectors of interest:
Founders' reviews of Tech Coast Angels San Diego VC fund
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Older than a year by non-portfolio founder
Avoid These Guys at All Costs
If you are in the startup business and don't care about product, creating value, or your company achieving long term goals, TCA is right for you. First they only invest in ideas so that are so safe because they have been de-risked by several other companies doing the same thing who were successful years ago. Meaning they will encourage you to sell your company by flipping it to a competitor in about three to five years.
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Well Meaning, Not for Web/Social
We submitted our application on one day, were called in to pitch the next Friday. Pitch went very well and we got great feedback with the follow-up meeting scheduled for just over a week later. People in the pitch were very attentive and interested and provided excellent feedback.
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Great Experience with TCA
I had a very positive experience with TCA this spring. I came to them with a partially-filled round A that I needed to complete. I pitched to three of their five forums and within six weeks of the first pitch I closed the deal. Since then my company has received strong support from the group and our TCA board member specifically. They have an extremely strong and well-connected network in Southern California.
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Received Funding From Tca, Positive Experience
Tech Coast Angels led two rounds of funding for my company, AIRSIS, Inc. The process in both cases was fair, efficient, and in our case, resulted in $2M in funding at attractive terms ($1M in each of 2 rounds). I have read some of the negative reviews, and it seems like many come from entrepreneurs who may not have the right expectations of what an angel investment group is all about. Here are my 2 cents:
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I Would Not Recommend Tca
Per, "They are legitimate, serious investors who have invested tens of millions of bucks in hundreds of companies, and do what they do because they want to, not because they have to.. The investments they make are ones that VCs simply are not ready to do. "
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Tca is a Social Club, Not Serious Investors
TCA is a social club of part time investors. Only a small handful are active, and your "lead" needs to lobby members to invest because only if you get a critical mass of interest do you get funding. So it is critical you get a strong lead person, and understand this is more about a popularity contest among members vs an investment in big ideas like you'd get with a VC lead who is the decision maker on funding your deal. Given the number deals they did last year, you might want to buy a lotto ticket instead of wasting your time and energy.
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Not Sure about "Tech" or "Angels" but They are Located on the Coast...
I was warned prior to seeing TCA that they were slow movers, but a friend recommended them to me so I gave it a shot...
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Like a Minefield
I only dealt with the LA/OC chapter. If you have a tech oriented or web oriented play, it will be difficult for them to grasp. The process is rigid, inflexible, and unforgiving. You are at the mercy of the lowest common denominator. Risk adverse, they want to see traction in a business before they will put $$$ in.
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It's a Network Not a Fund: Must Know How to Work the Network to Get Funded
Let me start with a disclaimer: My company called Clupedia is a portfolio company of Tech Coast Angels. In fact, we raised one of the largest, if not the largest round in TCA's history. I also won the Most Promising Investment Award during the 2006 Fast Pitch competition.
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Herding Cats: Good Practice for a CEO
TCA are a group of around 300 individual angel investors that share due diligence duties on a volunteer basis. I've spent a lot of time with them and I've never seen or heard of anything like what Aspian describes. With a group like that it really comes down to the individuals that are interested in your company. You need a strong lead and you are only going to get one if you really have it all together. It is not an easy place to raise money but it is a good group to be associated with.
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Sharks Swim in the Waters Around Tca
The term "Tech" needs to be removed from their name, as few in their group have an understanding or grasp of technology or technology trends. Their 1-minute pitch sessions are a humiliating abuse of their power in the Southern California area. I'm waiting for the clown suit competition, which would at least be anonymous.
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Tca May Not Be a Good Fit
Many startup companies treat TCA as a funding source of last resort. If you are not ready for VC $ and have the time to invest in due diligence --which not easy, TCA is a good choice. If not, like any source of capital you have to choose where you pitch. I know of several TCA funded companies, even pre-revenue, heck they are on their website. I also have seen people who pitch ideas, have none of their own investment in the business and want someone else to fund the A-Z of the business. Don't think they will get $ anywhere.