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MiLA Capital Raises First Venture Fund

MiLA Capital, the venture capital firm that is behind the Make In LA hardware accelerator, says it has raised its first official venture capital fund, officially closing its first fundraise. Size of the fund was not announced. The fund--led by Carmen Palafox, Noramay Cadena, and Shaun Arora--says it has so far made investments into 16 companies since 2015. The firm said it is specifically investing in early checks for hardware startups, across multiple industries, including agtech, healthcare and biotech, mobility and aerospace, advanced manufacturing, cleantech, and other areas. Make In LA offers up a startup accelerator program specifically geared towards hardware startups an entrepreneurs, and is currently taking applications for its sixth class, which will officially start in August. That accelerator program is expected to run through December. Source of the funding for the new venture capital fund was not announced. The investment fund is making investments globally, not just in Los Angeles.