Last week's angel investment report by the Angel Capital Association reported that investments by angel investors dropped nine percent in 2008, with a hefty percentage of angel investors--40 percent--expecting this year will be a down year. However, a quick check of local, Southern California angel investors finds that although angel investment is down, investors are still investing--albeit much more selectively. "Capital Capital efficient companies offering very competitive terms are still getting funded," says Al Schneider of the Tech Coast Angels , although it appears the group is much more sensitive about how it is investing in deals.

For today's Insights and Opinions section, Frank Peters, of the Frank Peters Show, interviews John Dilts of angel group, the Maverick Angels. Maverick Maverick is based in Westlake Village, to be more specific, which once hosted a Keiretsu Forum chapter. Southern California already has mature, well established angel groups like the Pasadena Angels and the Tech Coast Angels; is there Is Maverick Keiretsu reincarnated? Just how are they unique?

Was he rooting for McCain/Palin when he named his angel group Maverick? If I had this interview to do over, I'd ask, but we do cover all things related to angel investing in Southern California, especially its newest angel group, the Maverick Angels . Westlake Village, to be more specific, which once hosted a Keiretsu Forum chapter. Is Maverick Keiretsu reincarnated? Just how are they unique?

Westlake Village-based Cyber-Rain , a developer of smart irrigation controllers, has raised $792,454 in an equity funding raise, according to a regulatory filing by the firm this week. Cyber-Rain has previously raised funding from Funk Ventures, Momentum Ventures, a various angel investors, including the Tech Coast Angels. No details on the funding have been released by the firm. Funk Ventures' Andy Funk remains on the board, as does Momventum Ventures' Matt Ridenour, according to the filing.

Was he rooting for McCain/Palin when he named his angel group Maverick? If I had this interview to do over, I'd ask, but we do cover all things related to angel investing in Southern California, especially its newest angel group, the Maverick Angels . Westlake Village, to be more specific, which once hosted a Keiretsu Forum chapter. Is Maverick Keiretsu reincarnated? Just how are they unique?

Diane Schulz, CEO of Westlake Village-based Cyber-Rain , a venture backed developer of smart irrigation controllers, says that the recent increase in awareness of water conservation issues, plus increases in water rates are driving more customers to the firm. Schulz discussed the firm's recent $792K fund raise with socalTECH recently, saying that the round came from its existing investors, including Momentum Ventures, Funk Ventures, and the Tech Coast Angels, as well as a few other new investors. Schulz claimed that the firm has been doing "really well," explaining that the firm has seen lots of progress with landscape contractors and wholesale channels, not to mention lots of direct purchases by municipalities who are eager to reduce water usage of their biggest customers. Cyber-Rain's