SOURCE: TiE Silicon Valley

TiE Silicon Valley

July 13, 2010 11:15 ET

TiE Launches TiE Angels

Will Provide Promising Startups With Seed-Stage Investment and Support

SANTA CLARA, CA--(Marketwire - July 13, 2010) - TiE today announced the formation of TiE Angels, an angel investment group comprised of charter members of TiE Silicon Valley. The group's mission is to provide entrepreneurs access to seed capital and ongoing strategic and operational support. Many TiE charter members, who are some of the most creative business thinkers and company builders across the world, are already investors in, and advisors to emerging companies. With its objective of expanding access to capital for early stage companies, TiE Angels is a natural extension of TiE's primary goal of fostering entrepreneurship.

"Since its inception, TiE has served exceptionally well as a mentor, educator, and advisor to entrepreneurs who have created great companies with early-stage funding from our venture capital colleagues," said Mr. Vish Mishra, TiE Silicon Valley President and Venture Director of Clearstone Venture Partners, a successful early-stage venture capital firm with $700M of committed capital to technology innovators. "TiE Angels will now fill that role by providing seed capital to put promising entrepreneurs on the first-rung of the success ladder, a crucial need in the current economic environment."

According to PricewaterhouseCoopers and the National Venture Capital Association (using data from Thomson Reuters), total investment in start-ups for the fourth quarter of 2009 declined 14% year-over-year, while VC funding specifically fell 13% year-over-year. At the same time, the number of new startups has been growing in many markets, such as the United Kingdom, where the number of new startups rose 19% between July 2009 and July 2010; in Sweden, where the corresponding increase was 17.6%; and in the US, where, according to a Kauffman foundation study, in 2009 the number of new businesses hit the highest level in 14 years, with 558,000 start-ups every single month. The combination of these two trends means that more companies are seeking less funding, and angel investors increasingly will play an important role in filling the gap.

"TiE Angels is uniquely positioned to bring angel investors and entrepreneurs together," said Venktesh Shukla, TiE board member and convener of the TiE Angels Steering Committee. "TiE's network of business leaders and investors are committed to identifying, funding, and enabling success for the next generation of stellar entrepreneurs."

TiE Angels aims to provide a forum for innovative companies to present their ideas and attract funding from an accomplished group of individual investors. Entrepreneurs seeking capital may submit their plans to TiE Angels starting immediately. All submissions will be evaluated according to guidelines established by TiE Angels to assess the company's management team, value proposition, competitive advantages, and other factors. The TiE Angels Website includes information on preferred sectors and geographies, and an overview of the screening and selection process.

"Being an Angel Investor, I am excited to be a part of TiE Angels, as TiE formally steps up to the plate to accelerate the success of deserving entrepreneurs," said Mr. Kumar Malavalli, a TiE charter member, successful Silicon Valley entrepreneur, investor and philanthropist.

TiE also announced today that it will host a conference call to discuss the launch of TiE Angels. The call information is as follows:

  • Date: July 14, 2010
  • Time: 10:00 a.m. Pacific Daylight Time
  • Dial-in number for US/Canada: (805) 360-1000
  • Conference ID: 897310#

About TiE Angels
TiE Angels is a platform for angel investors to work together to provide a structure, process and discipline for angel investing, as well as to benefit from the collective wisdom of other angel investors. TiE Angels is governed by a Steering Committee of the TiE Silicon Valley board.

TIE ANGELS is not a venture fund, an investment bank, a broker/dealer, investment clearing-house, or an Investment advisor, but rather a forum in which investors may be educated on aspects of investment and business, as well as be introduced to companies for possible investment. TIE ANGELS is not registered with the Securities Exchange Commission or any state securities commission. Each member of TIE ANGELS is responsible for his or her own investment decisions, and TIE ANGELS is not recommending any particular company for investment. All investments in entrepreneurial companies involve a high degree of risk, and investors should be able to bear the risk of complete financial loss. The choice to use and manner of utilization of information and knowledge gained through TIE ANGELS is each member's individual and personal choice. No guidance shall be given, nor shall any person affiliated with TIE ANGELS (or TIE ANGELS itself) be responsible for an individual member's use of the information, investment decision, or the results of any investment. Hence, TIE ANGELS makes no representations or warranties regarding these companies. Investors must conduct their own due diligence and negotiate the terms of any investment they elect to make.

For more information, visit the TiE Angels Website at: http://sv.tie.org/chapterHome/programs/TiEAngels201005079639377557/viewInnerPagePT

About TiE
TiE is a global, not-for-profit, non-political, and non-religious organization dedicated to fostering entrepreneurs across its global network sponsored by top venture capital, legal and accounting firms and Fortune 500 corporations. TiE is spread across 55 chapters in 13 countries comprising 2,000 experienced entrepreneurs and business executives as charter members and 13,000 aspiring entrepreneurs and professionals as members.

Contact Information

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