Investor looked for promise

Luis Villalobos was not just a brilliant, innovative man. He was a kind and generous person, who gave his time freely to young entrepreneurs and served as their guide, said longtime friend and business partner John Kensey.

Villalobos was a Newport Beach resident who founded Tech Coast Angels, one of the largest angel investor groups in the nation. Angel investors help young entrepreneurs who might lack capital to get their businesses off the ground.

“He took a very active, positive role, and he’s the one that people consulted with if they had any issues,” Kensey said. “I would say he was the group’s “spiritual leader.””

Villalobos died Oct. 2 at St. Joseph’s Hospital in Orange. He was 70, voter registration records show.

He went to the hospital with “pneumonia and never came out,” Kensey said.

A graduate of MIT and Harvard Business School, Villalobos was also the founding board member of the Angel Capital Assn., which included 120 angel groups in the nation.

“Luis was in the forefront in recognizing that people wanted to get organized to help each other find good investment opportunities,” Kensey said.

Villalobos took many roles in his firm, but when he stepped out, he was never too far away. He continued to be there for those who needed guidance and help.

“I knew him for a long time,” Kensey said. “We graduated together from Harvard Business School. And for the last 10 to 12 years, we’ve been very close friends.”

Poker was Villalobos’s hobby.

He developed a love for the game in the last few years of his life, Kensey said.

He said he didn’t expect to lose his friend and business partner so abruptly.

Kensey recalled the times they had dinner together and the monthly breakfasts they organized.

There will be no funeral service, but a celebration of Villalobos’ life will take place Nov. 11, Kensey said. Details have yet to be set.