Tech Coast Angels Look Beyond O.C. With New Chapter in L.A.

Tech Coast Angels, the Newport Beach-based angel network that has invested $8.2 million in 15 Southland companies, has spread its wings to Los Angeles.

The group has opened an L.A. chapter, which now has 20 members but is expected to have 100 by year’s end. Like its Orange County cousin, the Los Angeles outfit holds monthly meetings where business people present their fledgling firms before a gathering of entrepreneurs, venture capitalists and business executives.

The creation of an L.A. chapter is good news for Orange County entrepreneurs because it effectively “doubles the number of angels who can invest in Orange County companies,” Tech Coast Angels President Luis Villalobos said. Companies in search of capital will have the chance to make presentations before both the Orange County and Los Angeles groups.

Typically, groups like the Tech Coast Angels are the first source of outside money for a company and contribute $50,000 to $2 million for an ownership stake of 20% to 40%.

Information: www.techcoastangels.org, or 949-859-8445 Ext. 103.

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Marc Ballon covers small business and entrepreneurial issues for The Times. He can be reached at (714) 966-7439 and at marc.ballon@latimes.com.