Tech Coast Angels See 42x Return At MindBody

The Tech Coast Angels, Southern California's biggest angel investment group, said Tuesday that it has seen a successful exit in MindBody, the developer of cloud-based business management software for the wellness industry. MindBody had its IPO in May. TCA said its members first invested in MindBody in 2005, and saw a 42x return at IPO on their investment. Although TCA members saw an excellent return on investment in MindBody, the 42x return still does not trump the 100x return the TCA's members scored in their investment in another portfolio company, Green Dot, back in 2010.