Golden State Capital Network, a matchmaker for entrepreneurs and investors, is opening its first office south of Sacramento this week in Newport Beach.
The firm, which has a network of angel and venture investors across Northern California is looking to invest in start-up companies, works with entrepreneurs on their business plans so they can get funding.
Golden State is setting up shop in space given to it by Global Vantage Ltd., an investment and mergers and acquisitions firm that is moving its headquarters from Irvine to Newport Beach.
Global Vantage is donating the office space in the hopes that Sacramento-based Golden State can develop a network of entrepreneurs and angel investors locally like it has in Northern California.
“It gives us the opportunity to see some embryonic companies that represent interesting investments,” said Richard M. Torre, Global Vantage’s chairman.
Golden State wants to be in Orange County for similar reasons.
“The Tech Coast will emerge as a technological center of the world,” said Chuck Connell, Golden State’s chairman. “The financial and human capital of the region is very valuable to us and our network.”
Golden State also rounds up entrepreneurs to match them with its network of investors. The company refers to its business model as that of a “venture catalyst,” a niche offshoot of the venture capital industry.
“There are more and more entrepreneurs who don’t have the association with the capital resources,” Torre said.
Golden State already has partnered with some heavy hitters on the investment side, including AT & T; Corp., Bank of America Corp., Deloitte & Touche, Ernst & Young, Hewlett-Packard Co., Intel Corp., PricewaterhouseCoopers, CB Richard Ellis and several angel groups.
Connell said he is impressed with some of the groups in Orange County that cater to entrepreneurs, such as the Association for Corporate Growth and the Forum for Corporate Directors.
“Golden State wants to plug into that,” Connell said.
Golden State was formed in September of last year when ACCESS Capital and Rural Capital Network merged operations.
In the 10 months since its inception, Golden State has been involved in $40 million worth of angel and venture funding. It also has an office in Chico, just north of its Sacramento headquarters. The U.S. Department of Commerce and other federal agencies provided seed grants to launch the network. n
