Irvine-based investors group Tech Coast Angels funded 37 investments in 2011, 25% more than in the previous year and 50% more than in 2009.
Last year’s total includes 18 new investments by the angel group, which specializes in smaller levels of capital funding than venture firms. The group has invested $119 million to entrepreneurial companies since 1997.
Chairman Stephen Flaim said Tech Coast raised more than $45 million for its portfolio companies in 2011, up 80% from 2010. About $11 million of the total was raised directly from members of the group.
Tech Coast Angels counts roughly 300 members across five networks in Southern California. The group invests in companies in a variety of industries.
Orange County companies that have received funding from Tech Coast include Irvine-based mobile phone application developer YouMail Inc., lending-software company ExtendCred it.com in Aliso Viejo, and Laguna Niguel-based SleepSafe Drivers Inc., which provides sleep apnea diagnosis and treatment for truckers.
“There are a lot of really innovative things going on here in Orange County with software, medical devices, Internet companies and so forth,” Flaim said. “Also a lot of companies have downsized, and there are a lot of good people who are basically free agents.”
“If the quality of the deals that come to us in 2012 are the same as 2011, I would expect a continued growth,” Flaim said. “But there are people outside of TCA who are watching this too. It might be a bit more competitive for these good deals.”
—Jane Yu
