*NEWS: Angel Investment Group Partners with a VC Firm
A VC firm in Pasadena has become an affiliate member of Tech Coast Angels.
SWS focuses on active and passive investments in early-stage companies within the consumer products and technology sectors.
The affiliation provides startups with an opportunity for introduction to more investors who support the entrepreneurial ecosystem at all funding and maturity levels, so that young companies can transition from angel to VC capital.
Steve Streit, the general partner and chairman of SWS, is also the founder of Green Dot, which received capital and mentorship from TCA when the company was in early-stage development. Green Dot is a fin-tech and bank holding company that touts itself as the world’s largest prepaid debit card company by market capitalization. It’s also a payments platform company with clients including Apple Pay Cash, Uber and Intuit.
And, it’s a multi-billion-dollar NYSE company and one of TCA’s most successful investments.
“This is truly a full-circle story,” Greg Jones, president & CEO of SWS, said in a press release. “TCA provided support and backing to Green Dot, and now, 17 years later, we are able to partner with TCA again, albeit in a different role.”
This synergy illustrates the reciprocal relationship of OC’s startup ecosystem. Angels can work with corporate VCs, affiliates foundations and others to let them know about opportunities to invest in early-stage companies. These VCs and affiliates will then be aware of these companies as they look for more funding down the road. And these groups may come across companies that are too small to invest in now, but are ideal for TCA to bring them along, said David Friedman, VP of TCA OC and creator of the TCA Affiliate Member program.
TCA affiliate membership is available to family offices, foundations, corporate venture, non-profits, and venture capital funds. Affiliate members are not required to be located in SoCal.
TCA is one of the largest and most active angel investor networks in the nation, and a leading source of funding for seed-stage and early-stage companies across all innovation industries in SoCal.
TCA members are accredited investors who individually invest in startup companies. As a group, TCA has invested up to $6 million in a single company.
Since its founding in 1997, TCA has invested over $200 million in more than 350 companies and has helped attract more than $1.6 billion in additional capital/follow-on rounds, mostly from venture capital firms.