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Tech Coast Angels is proud to announce its investment into Arima Genomics Series B financing announced March 15th, 2022. The deal was led by Tech Coast Angels members Ryan Witt and Eva Wang, PhD, MBA with participation from over 15 angels across the San Diego, Los Angeles, and Orange County chapters, as well as from TCA LA’s Fund II and TCA OC’s Fund II.
Sid Selvaraj, PhD, Chief Executive Officer and Co-founder of Arima Genomics, shared “We are pleased to have the depth of Tech Coast Angels’ members on our cap table. Ryan and Eva have already made key introductions for us, brought together value-add angels for our business, and facilitated a smooth due diligence process from start to finish. As an entrepreneur, it is a great opportunity to have such engaged and helpful investors.” Eva Wang, PhD, MBA, is Chief Technology Officer at Active Motif and brings over 20-years of genomics experience including as former Vice President of R&D at Epic Sciences as well as at HTG Molecular Diagnostics, Veracyte, Affymetrix, and CareDx. Ryan Witt is UCLA Biodesign’s Hub Director, formerly Chief Operating Officer at Immix Biopharma, Inc and Head of StartX Med, where its founder community created over $7B in value in the past decade alone. “Six of my angel investments are over two years old with three of those acquired for a substantial multiple and the remaining three growing rapidly. As a mentor at CLS FAST, StartX Med, KidsX, Nucleate, WIB and more, I see a substantial number of companies pioneering innovative work. It always impresses me that TCA still manages to source fantastic investment opportunities, like Arima Genomics, that I haven’t seen elsewhere. I am so happy that Sid and the Arima Genomics team made room on the cap table for us and look forward to helping them advance scientific discovery for the benefit of human health. More important than a financial upside is that we are doing well by doing good in the world. There is no question that will be the case with Arima,” shared Ryan. About Tech Coast Angels: With more than 400 members, Tech Coast Angels (TCA) is one of the largest and most active angel investor networks in the nation, and a leading source of funding for seed-stage and early-stage companies. Since its founding in 1997, TCA has invested more than $255 million in more than 500 companies and has helped attract more than $1.7 billion in additional capital/follow-on rounds. The Good Patch, a company that is introducing wearable wellness patches to the mainstream, approached TECHCOAST ANGELS-LOS ANGELES (TCA-LA) for funding in late March, 2021. Less than a week later, after an expedited Due Diligence process, the Los Angeles Chapter of Tech Coast Angels committed to the company’s 2nd round of funding, from the TCA-LA MEMBER FUND and an SPV comprised of individual angels. Altogether TCA committed $250,000, the amount remaining to be filled in the round.
TCA-LA recently revamped their operations to allow, in certain situations, for the rapid and immediate deployment of capital, to start up or growing companies looking for funding. MAHESH BALAKRISHNAN was deal lead for TCA-LA, and said, “we are excited to be investors in The Good Patch, which has made wellness accessible in an easy-to-use patch form. In a short period of time, Cedar and her team have built impressive awareness and distribution for The Good Patch’s products. We look forward to partnering with them and opening up the entire TCA network during the next stage of their growth journey.” Cedar Carter, CEO of THE GOOD PATCH said “Mahesh and the TCA-LA team were wonderful to work with and had a very efficient process, which allowed us to focus on the important things - growing our business and building a best-in-class consumer brand.” |
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