It started with a meet-up, a shout out to entrepreneurs looking to meet local angel investors. The first one burdened the venue when 100 entrepreneurs arrived. Now there are bigger venues and LA's doing them, too. The format is simple: no program, just a mingle for networking. But out of the very first one, a small startup emerged and has been funded. Is that news? Yes, because it's one of only two new companies that Tech Coast Angels has funded so far in 2010.

Where's all the investors' money going? Into existing portfolio companies, to keep them going during a tough economy when any funding is hard to find.

So what was Vokle's pitch and how did TCA member Ray Chan brilliantly package it such that it was over-subscribed?

Want your shot at local investors? Come to the next meetups: June 8th hosted by Jason Calacanis and June 15th by the Tech Coast Angels, both in Orange County.

Show #295 (32:05) Listen