Source: Press Release on www.MarketWatch.com on 9/13/11
Tech Coast Angels Launches Angel Syndication Network
Network Provides Entrepreneurs Access to More and Larger Rounds of Angel Financing; TCA, Golden Seeds and Band of Angels Found the New Nationwide Network
Tech Coast Angels (TCA), the nation's largest angel investment network, today announced the formation of the Angel Syndication Network (ASN), an affiliation of angel investment groups across the U.S. that have banded together to provide entrepreneurs with more and larger financing rounds before leaving the angel system.
According to Richard Sudek, chairman of the TCA Syndication Committee, "ASN is a dynamic new opportunity for entrepreneurs. Previously, start-up companies might go to a single angel group to receive their initial financing, but when they required additional funds, they had to go through the same due diligence at other angel networks. Or they had to try to make the leap to venture capital, sometimes before they were ready. Now, these companies can start up with any of our ASN partners and have access to the funds and support of the other groups when they need it. They can take any on-ramp and access the same freeway."
The founding partners of the Angel Syndication Network include Tech Coast Angels in Southern California, Golden Seeds of New York City and Band of Angels of Northern California. Other groups are currently coming on board or in the partnering process.
"The Angel Syndication Network will be an efficient means for those game-changing entrepreneurs who need to be focused on their businesses to raise funds from multiple angel groups with minimal incremental effort," said Mike Napoli, TCA chairman. "With ASN, companies aren't repeating all of the same money-raising steps over and over, and the ASN partners are able to see good deals brought to them by a lead investment partner that is familiar with the entrepreneur and has already agreed on financial terms. They will also be able to take advantage of the broader networking reach of the larger pool of investors. It's a win-win."
"Syndicating investments within the angel group ecosystem is essential in our quest to aggregate capital for early-stage companies that have high-growth potential," said Stephanie Hanbury-Brown, founder, Golden Seeds. "In this way, angel groups across the country are supporting the innovation economy and job growth, without losing sight of the imperative for high returns on our investments."
According to Dr. Ian Sobieski, chairperson, Band of Angels, "The ASN gives us the ability to fully fund more start-ups within a family of known, high-quality angel investors who have a track record of helping entrepreneurs with experienced mentorship as well as capital. We're excited to be a founding partner in this network."
Entrepreneurs who wish to contact Tech Coast Angels about the Angel Syndication Network can find further information at www.techcoastangels.com .
About Tech Coast Angels
Tech Coast Angels, www.techcoastangels.com , is the largest angel investor group in the United States. Its members provide funding and guidance to more early-stage, high-growth companies in Southern California than any other investment group. TCA members invest in companies in a wide range of industries, including the life sciences, biotech, IT, services, retail, Internet, financial, software, media, consumer products and tech startups. TCA members give companies more than just capital; they also provide counsel, mentoring and access to an extensive network of potential investors, customers, strategic partners and management talent. TCA has more than 250 members, including its venture capital affiliates, in five networks in Los Angeles, Orange County, San Diego, Westlake/Santa Barbara and the Inland Empire. More information on investment with Tech Coast Angels can be found at www.techcoastangels.com , www.facebook.com/techcoastangels or twitter.com/techcoastangels.