San Diego Business Journal

San Diego Tech Coast Angels Invests $7.3M in First Half

By Mike Allen Tuesday, July 29, 2014

The San Diego chapter of Tech Coast Angels said its investments in the first half of this year, $7.3 million, matched the total invested in all of 2013.

The local chapter said it placed its money in 15 startups through June 30, and the $7.3 million exceeded the 2012 total investments by 80 percent.

The average investment this year was $485,000. In the past two and half years, the organization has invested $18 million, including $10 million into the life sciences and healthcare industries.

The largest investment this year so far was $2.5 million in a follow-on round in Savara Pharmaceuticals of Austin, Texas.

Jeff Draa, president of San Diego Tech Coast Angels, said this has been the most active year in the group’s history. The type of companies receiving funding run the gamut from consumer firms to life sciences and health care, Draa said.