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Surveying SoCal's M&A Landscape, with David Siemer

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I think that the market was, however, hotter two years ago, when companies were buying more aggressively, and there was lots of pent-up demand. I think the incubators have a lot to do with it. an incubator in Singapore, and we do a dozen or so investments a year. We were involved in the Gradient X deal, and that was a nice one.