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Tech Coast Angels launches fund giving access to entrepreneurial investments

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Tech Coast Angels, the largest angel investment network in the US, has launched the Angel Capital Entrepreneurial Fund 1, giving private and institutional investors the opportunity to access early-stage entrepreneurial company investments.

Dave Berkus, chairman emeritus of Tech Coast Angels, says: "The ACE Fund opens a whole new world of exciting investment potential to investors in California. The fund is designed from the investing members’ point-of-view. It incorporates many features that give members a chance to benefit from the collective wisdom of TCA at a small investment rate and with liquidity provisions and planned earlier returns than are generally offered in comparable funds. Equally important, it allows investors to diversify their portfolios. Plus, it’s beneficial to entrepreneurs as it simplifies their process of raising funds."

The fund provides a liquidity provision that allows for trading of shares among TCA members, the fund itself and accredited investors allowing for an exit strategy in the event of hardship.

The minimum investment is USD30,000, with one third upon signing and the balance called over two years.

Management of the ACE1 Fund is overseen by an elected board of trustees and potential investments are brought before the membership by an elected five-member deal committee.

The fund provides for a total of 100 members divided into two membership groups: voting members made up of active and inactive TCA members; and non-voting members made up of all other accredited investors.

The ACE1 Fund will invest in a minimum of ten entrepreneurial enterprises selected for their ideas, strength of management and market growth potential.

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