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Makucell Names Pasadena Angels' Scanlon To Board

socalTECH

Makucell , a life sciences company developing anti-aging skin products, said this morning that it has appointed Kevin J. Scanlon is Chairman of the Pasadena Angels and also an active member of the Tech Coast Angels. Makucell did not say if it received an investment from either group as part of the appointment.

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Angel Investment Criteria

SoCal CTO

By way of background for the question, there’s a great post by Bob Aholt, a Pasadena Angel: An Angel Investor’s Thoughts on Valuation. Bob is heavily focused on ROI (and team/product). But, this is not my experience with Angel groups. Can you raise $750K - $1M with no future investments planned?

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Bluebeam Nets Local Angel Groups 20X Return

socalTECH

Local angel groups have hit the jackpot again with an investment, this time with the October acquisition of Pasadena-based Bluebeam in a $100M deal by German software company Nemetschek AG. Lee founded Bluebeam as a spinoff of Alliance Spacesystems, launching its first products in 2003. READ MORE>>.

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Q3 Venture Investments For SoCal Total Around $1.0 Billion

socalTECH

billion in investments, according to the Q3 analysis of venture capital deals by socalTECH.com. According to an analysis of socalTECH's proprietary database of venture capital deals, venture investors invested slightly more than the $966M in Q3 of 2009, but less than the $1.6 billion invested in Q2.

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Gridtest Systems Gets Seeded

socalTECH

Los Angeles-based Gridtest Systems , a developer of measurement tools for the electric vehicle (EV) market, said this morning that it has raised a seed round of funding from the Pasadena Angels and the Tech Coast Angels. Financial terms of the investment were not announced. READ MORE>>.

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Ranker Raises $1.3M

socalTECH

The funding was led by Tim Draper of Draper Fisher Jurvetson , and also included Rincon Venture Partners , Newport Coast Investments , Gil Elbax of Factual, the Pasadena Angels , and Siemer Venture Capital. Ranker is a website which allows consumers to rank lists of their favorite TV shows, books, products, or anything else.

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MyShape Runs Out Of Cash, Shuts Down

socalTECH

Los Angeles-based MyShape , the online personalized fashion and women's clothing firm, has shut down. According to a message on the firm's site, it is "temporarily suspending its retail operations" and is no longer offering products.

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