SOURCE: Angel Capital Education Foundation

May 24, 2007 11:00 ET

Angel Capital Organizations Name Luis Villalobos as Recipient of Hans Severiens Award

National Award Recognizes Individual Contributions to Angel Investing

CHICAGO, IL -- (MARKET WIRE) -- May 24, 2007 -- The Angel Capital Education Foundation (ACEF) and Angel Capital Association (ACA) have named Luis Villalobos, founder of one of the most active angel investor groups in the country and a founding member of the Angel Capital Association, as the recipient of the Hans Severiens Award. The Award recognizes individual accomplishments in the advancement of angel investing.

The award was presented at the 2007 ACA Summit, which was attended by 325 angel group leaders and investors from the United States, Canada, and several other countries. The angel groups in attendance at the Summit represent nearly 5,700 individual angel investors -- high net worth individuals who take equity stakes in startups, and by many representatives of the venture capital community.

In announcing the award, Marianne Hudson, executive director of ACEF, said, "Luis is a pioneer in the angel group field, with impact on a national and world stage. He has willingly shared his knowledge about the angel investing process, particularly in valuation, with other angels and angel group leaders through education, writing and informal mentoring. He has truly advanced the legacy of Hans Severiens."

A decade ago, Villalobos founded TechCoast Angels, patterned after an angel investing operational model first pioneered by Hans Severiens, who earlier started Band of Angels in Silicon Valley, one of the first angel investor groups.

TechCoast Angels has since become the largest angel network in North America. Since its launch, its 300 members have invested $84 million of personal capital in 132 companies which have gone on to attract an additional $810 million in capital. Villalobos' group today consists of four geographic networks in Los Angeles, Orange County, San Diego, and Westlake/Santa Barbara. Villalobos was also involved in starting two other angel groups -- Camino Real Angels, El Paso, TX and East Coast Angels in Sydney, Australia. Having made 63 angel investments personally and developed and led over 100 workshops for angel group leaders, angels, entrepreneurs and Bar Associations, he is one of North America's most active and successful private equity investors.

"It is an honor to receive the Hans Severiens Award and I would like to thank ACEF and ACA for this recognition," said Villalobos. "The angel market is a fascinating field undergoing constant change."

Always innovating in new and improved operational models for angel group investing, Villalobos is working on what he terms his next stage of angel investing -- a collaborative venture capital fund. The new company called Angel Venture Partners, will serve as a model to bring in outside capital to angel groups. Seeking to raise $100 million, the company will be a classic venture fund raising money through institutional investors and high net worth individuals. He has already identified several high profile angel groups across the U.S. who are interested in accessing the capital for co-investments in new and follow-up investments.

"No matter how large an angel group becomes, there always seems to be a need for more capital than the group can provide, both for the initial round and for follow-up financing," said Villalobos. "I have looked for many years on how to bring in more money to angel groups and with discussions with other angel groups around the country, this seems to be an exciting stage that can transform angel investing."

The award is named after Hans Severiens, one of the fathers of angel investment organizations. Dr. Severiens founded Band of Angels in 1994 as one of the first angel investment groups in the United States. Dr. Severiens was also a founder of the Angel Capital Association, a companion organization to ACEF.

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