Monday, June 28, 2010
Tech Coast Angels Launches New Sidecar Fund
The Tech Coast Angels, the venture capital angel investment group, has launched a new "sidecar" fund, the Angel Capital Fund, according to angel investor Dave Berkus. The fund target size is around $5-6M. A sidecar fund is an investment fund which is used by angel investment groups to bolster the investments in those groups' portfolio, without individual involvement of specific angels in the investment rounds. The new fund was announced by Berkus on fellow Tech Coast Angels member Frank Peters podcast show Friday. A sidecar fund allows unaffiliated angels or angels not as interested in making individual investment decisions to participate in a wider range of angel deals by an angel group.