Collaboration between the two acclaimed angel groups adds new deal flow, equity investment, and unique expertise in medical and healthcare markets
IRVINE, Calif. and WASHINGTON D.C. – March 29, 2022 – Tech Coast Angels (TCA) and MEDA Angels (MEDA) today announced that MEDA will become the newest member of the Tech Coast Angels network through a licensing agreement. MEDA is a virtual angel network that specializes in medical technology companies with a focus on mid-seed and A-round investments. MEDA’s affiliation with TCA gives both groups better deal flow, improved investment collaboration, and more capital investment opportunities. MEDA will have a seat on TCA’s Board of Governors, and will benefit from TCA’s expansive investor base and best practices. TCA will benefit from MEDA’s medical expertise and expanded deal flow.
This alliance builds on the recent addition of Pasadena Angels as a licensee of TCA and is part of the TCA’s objective to expand its membership base and create more funding opportunities within a larger entrepreneurial ecosystem. The inclusion of these two angel groups adds 170 accredited investors, and provides entrepreneurs with additional possibilities to secure seed, bridge and early A-round funding. Over the past two years, Pasadena Angels invested over $9 million and MEDA Angels funded deals of $2 million. The alliance of these two renowned angel groups continues TCA’s accelerated growth in both members and geography, sustaining TCA’s position as one of the largest and most influential angel groups in the world, with investments totaling $40 million in 2020 and 2021.
“We’re excited about this alliance and mutually beneficial collaboration, particularly in the areas of digital health, medical devices and robotics, diagnostic technology, wellness and other medical technologies,” said Jeff Lapin, TCA chairman. “The alliance significantly strengthens TCA’s current expertise and knowledge base in these areas, and together we will be even more attractive to entrepreneurs and young companies in these markets.”
Elizabeth Cho-Fertikh, PhD, co-founder & managing director of MEDA Angels added, “We welcome becoming a member of the Tech Coast Angels network where our investors can join forces with one of the preeminent angel investing groups in the country. We look forward to collaborating with TCA and contributing our expertise to new healthcare deals and investments. I am excited about the prospects for a deeply rewarding and synergistic partnership with TCA.”
On April 1, 2022, TCA San Diego will rebrand itself as NuFund Venture Group, an independent angel organization that will continue to collaborate and share deals with TCA.
Angel groups interested in becoming TCA licensees should contact David Friedman, TCA vice chairman, at dfriedman@prodigy.net.
About Tech Coast Angels:
With more than 400 members, Tech Coast Angels (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. TCA members are founders and business leaders, all of whom are accredited investors with extensive knowledge in the investment process and world-class business practices. That real-world experience allows TCA members to provide companies with benefits beyond capital: counsel, mentoring, and access to an extensive network of investors and other resources. Since its founding in 1997, TCA has invested more than $255 million in more than 500 companies and has helped attract more than $1.7 billion in additional capital/follow-on rounds. www.techcoastangels.com
About MEDA Angels:
MEDA Angels is a health-care focused angel investor group based in Washington, DC. The group was founded by seasoned physician- and scientist-angel investors, supported by a team of regulatory, reimbursement, legal and financial advisors. The group invests liberally across mid-seed and Series A healthcare opportunities: both disease management and prevention, covering SaaS, digital health, AI, robotics, diagnostics, medical devices and repurposed therapeutics. Angel members include more than 50 physicians and healthcare experts and those from a wide range of professional backgrounds who have a strong interest in healthcare investing. Importantly, the groups’ investments reflect strong product market fit validation of the technologies, as many MEDA members represent natural, prospective customers of those technologies. MEDA members are sought out for their Advisory capability by healthcare startups and are valued for their extensive healthcare networks that can support the progress of portfolio companies. Since its inception in 2019, MEDA has invested in 12 companies, which has included several re-investments, totaling nearly $2Mill USD. www.medaangels.com.