Performance
Out of 526 investments by Tech Coast Angels through 2022, 279 (53%) are still active.
Of those no longer active:
- 106 (43%) returned some cash to investors
- 141 (57%) were total write-downs or seem inactive
Of the 106 Exits
- 79 returned at least 100% of the investor’s capital
- 31 returned between 5x and 368x
- 2 have no info on the multiple returned
At the highest price achieved after IPOs, TCA’s return (assuming equal weighting) has been 6.4x and the IRR has been 25.2%. Tax benefits from the write-offs are not included in TCA returns.
This analysis of 247 Tech Coast Angels outcomes from 1997-2022 compares favorably to other benchmarks including 115 Central Texas Angel Network outcomes from 2006-2022 and three previous large studies by Professor Rob Wiltbank which also showed IRR’s in a similar range: 27% (2007 study), 22% (2009 Study) and 22% (2016 Study).
Exits & Shutdowns by Year
Outcomes by Years Since Investment
Exit Distribution by Years Since Investment
Cumulative TCA Return over Time
