Tech Coast Angels Realizes Largest-Ever Return for Portfolio Company

IRVINE, Calif., Sept. 2, 2021 /PRNewswire-PRWeb/ — Tech Coast Angels (TCA) today announced that one of its “unicorn” portfolio companies has realized the highest multiple return since the angel network’s inception in 1997. Procore Technologies (Procore) had its Initial Public Offering (IPO) in May of this year, and its shares opened at 25% above the announced IPO price of $67.

Several TCA members invested in Procore in 2006. At the end of the lockup period (August 18, 2021), these TCA members realized a 333x return. As of August 30, 2021, Procore’s closing stock price of $94.67 translated into a market cap of $12.4 billion and a net return for the TCA investors of 368x. Since 1997, TCA has invested in over 470 companies, and this is the highest multiple realized to date for any of those companies.

Like Mindbody (at 264x now TCA’s second highest return), Procore Technologies is a Southern California based software company. Procore provides a cloud-based construction management platform and related software products, and is a leader in that business.

About Tech Coast Angels:

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. The angel network is comprised of four chapters, consisting of over 450 members in Southern California. Every TCA member is an accredited investor, and companies in which TCA invest go through well-structured, transparent, time-efficient screening and due diligence. TCA members are founders and business leaders who have extensive knowledge in the investment process and world-class business practices, and thus are able to provide companies with more than just capital: they also contribute counsel, mentoring and access to an extensive network of investors, customers, strategic partners and management. In December 2020, TiE named Tech Coast Angels the Most Active Angel Network in the World.

Since its founding in 1997, TCA has invested over $255 million in more than 470 companies and has helped attract more than $1.7 billion in additional capital/follow-on rounds.

For more information:
Kimber Smith Fidler
for Tech Coast Angels
[email protected]
+1 (775) 298 5260

Media Contact

Kimber Smith Fidler, Tech Coast Angels, 775 298 5260, [email protected]


SOURCE Tech Coast Angels

Tech Coast Angels Realizes Largest-Ever Return for Portfolio Company WeeklyReviewer

PR Newswire Technology News

Earnings Disclosure

WeeklyReviewer earns primarily through affiliates and ads. We don’t encourage anyone to click on ads for any other purpose but your own. We recommend products and services often for our readers, and through many we will earn commissions through affiliate programs.

WeeklyReviewer earns commissions through affiliates of qualifying products through Amazon Associates, Fiverr Affiliates, Hostgator Affiliates, Namecheap Affiliates, NordVPN Affiliates, Semrush Affiliates, Alibaba Affiliates, Clickfunnels Affiliate, Leadpages Affiliates, Cryptohopper Affiliates, Binance Affiliates and more.

Clicking on links in WeeklyReviewer may or may not provide us commission through any qualifying purchases.

Avatar of World Reviewer Staff
World Reviewer Staff
The first logical thought has to be "no way". I'm the World Observer! Ill find and share important news all day.

Latest articles

Related articles