As part of its venture capital investment efforts, Fairmont sources and shares investment ideas with multiple affiliates. Major relationships exist with the following:
Tech Coast Angels
Tech Coast Angels (“TCA”), the largest angel investor group in the United States, has been fueling the growth of innovative companies and entrepreneurs in Southern California since 1997. TCA identifies, mentors and funds early stage companies where TCA members devote their time, expertise and capital to help companies grow and succeed. TCA members consist of experienced CEOs, senior executives, current and former entrepreneurs, venture capitalists and other professionals. Members not only invest their own money but frequently serve on boards and assist companies with relationships, strategy, supply chain, team building and additional fundraising. TCA has an outstanding deal flow of opportunities and a simplified yet organized process for screening and completing due diligence.
TCA consists of five regional networks (or chapters) in Southern California: Los Angeles, Orange County, San Diego, Central Coast, and the Inland Empire. Each network holds screening sessions, normally semi-monthly, where “pre-screened” entrepreneurs present their company and investment opportunity to the TCA membership.
TCA has been a catalyst in building Southern California’s economy into a thriving center of technology and entrepreneurship. Its relationships with major colleges and universities in Southern California provide both access to potential commercialization opportunities and to expertise that is invaluable to analyze potential investments. For more information visit www.techcoastangels.com.
The Cove Fund
The Cove Fund, based in Irvine, California, is a family of seed-stage venture capital funds that provides startup funding for promising new Southern California ventures. The Fund is headquartered in “The Cove” at UC Irvine Applied Innovation, a centrally located and vibrant gathering place for entrepreneurs, innovators and investors in the Southern California startup ecosystem.
Cove Fund II has raised a discretionary $14.2 million pool of capital from both private and institutional sources. The Fund’s members (investors) include successful entrepreneurs, local business people, family offices and others who recognize the investment opportunity offered by the dynamic Southern California startup community.
The Fund seeks opportunities in which a strong leadership team is in place to guide development of the core technology, product and/or service, and to build the organization needed to realize the company’s significant market potential. The core technology must offer substantial and sustainable differentiation and barriers to entry. Ultimately, the Fund’s goal is to support those companies that can successfully grow to a level where much larger venture capital funds are attracted to provide the significant additional capital needed for full market commercialization at significant incremental valuations. In brief, the Fund’s focus when evaluating companies for investment will be “Team, Technology and Market”. For more information visit www.covefund.com.