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Angel
Profile
Who:
Luis Villalobos
Where: California
Experience: A lifelong entrepreneur who
became an angel investor 18 years ago. Started
in software and logic design. Has a master's in
mathematics and a degree in electrical engineering and computer science. Joined a
startup company and became the vice president of
engineering. Following his entrepreneurial
spirit, started his own company in digital curve
generation - drawing three dimensional designs
for manufacturing and retail companies. Launched
a successful project for Hart, Schaffner and
Marx, men's apparel mapping three-dimensional torso for designers to
draw designs with the computer. Later directed
another major project with Hughes Aircraft in a security detection system at airports. Later
sold off interest in his company and became a
consultant and investor.
How: Became an angel investor on a
referral from a friend. First investment was
with a firm that needed capital quickly before
foreclosure. Did the deal over weekend that
provided the seed money to become a highly
successful business. Second investment with
Hirsh Electronics that developed a pin number
scrambler for ATM machines and office security
codes. Helped Hirsh procure patents, brought in
additional investors and invested in the company
personally. Hirsh later became a leader in the
marketplace.
How Many Deals: Personally invested in 12
companies. But started the Tech Coast Angels in
California which has grown to 200 members. This
active angel club has done 46 deals, investing
$37 million. Tech Coast Angels span from San
Diego, Orange County and Los Angeles. In the
process of forming a fourth club in the Santa
Barbara area.
Amount of Investment: Tech Coast Angels
typically invest between $5,000-$800,000. Has
invested as much as $4 million and several from
$1-$2 million.
Tips for Entrepreneurs: Believes the time
is still ripe for private investment. Need to
develop a solid business plan. Major change
involves Venture Capital firms that prefer to
fund larger companies in later financing rounds.
However, a growing number of VCs are joining
Tech Coast Angels individually. Tech Coast
Angels screen six potential investors a month
among a 25-30 member committee. Four companies
are selected to give 20-minute presentation
before the angel group. If any members are
serious, a committee will do due diligence.
Believes there's strength in numbers for angels
in joining angel clubs with members that offer a
wide variety of backgrounds to make more
informed investment decisions.
Contact: Welcomes inquiries from reputable startups. Send letter
of introduction to www.techcoastangels.com and luvil@home.com.
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