San Diego Tech Coast Angels said it invested nearly $3 million in 10 startup companies in the fourth quarter, the busiest quarter in the past year.
The dollar amount came to about 40 percent of the SDTCA’s total annual investment of $7.3 million.
The activity was 40 percent above SDTCA’s investment goal for the year. “We revamped our due diligence process to enable us to evaluate more companies more efficiently, and thus do more deals,” said Jeff Draa, president of the local organization.
Four of deals last year were for more than $1 million, SDTCA said, without providing further details. The companies receiving the largest investments were Mogl, Senior Quote Insurance Services and Rock My World.
Since its founding in 1997, the Tech Coast Angels, with affiliates in Los Angeles and Orange counties, Inland Empire and Central Coast, has funded more than 200 companies with about $120 million. Portfolio companies have attracted about $1 billion in later investments.
The local network set its 2014 goal of at least $5 million. The group is holding a Meet the Angels event Feb. 26. For more information, visit www.techcoastangels.com.