The South Coast Angel Fund is a member-managed, early stage, venture capital fund designed to utilize the capital, resources, and expertise of their members to generate financial return through equity investments in early-stage companies. Yesterday, the angel group announced the launch of the South Coast Angel Fund II, which will commit to investments for which it has sufficient cash-in-hand to complete the transaction.
A fund representative said this is different from other angel investing models in which individual investors must independently ‘subscribe’ and pay-in to complete each deal.
The South Coast Angel Fund II hopes to capitalize on the regions emerging and legacy core competencies within the following sectors: biotech, industrial technology, advanced manufacturing technology, defense technology, water management technology, offshore technology, arts and culture technology, and education technology.
Jon Atkinson, who has been the fund’s manager since June, says the group wants to catalyze innovation in areas throughout the region that can excel and differentiate. “We believe that true economic impact comes from developing local industry clusters that capitalize on larger macro-economic trends. The Gulf Coast is well positioned to capitalize on national trends in on-shoring, democratized manufacturing, the development of the ‘Internet of things,’ advanced biotechnology and the resurgence of domestic oil production. We are very focused on finding and developing our region’s next $100 million dollar company.”
Both funds invest in innovative businesses with robust business models, tested management teams, and high growth potential.