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Reflections on 2019: Kelly Perdew, Moonshots Capital

socalTECH

What was the biggest news for you/your company this year? We have invested in 13 companies out of our Fund 1 so far and are more bullish than ever on the amazing entrepreneurs we are meeting and the companies we are helping them build. We also had our first exit for Moonshots Capital Fund 1 --Threatcare.

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Bird investor Upfront Ventures eyes $250M growth fund

TechCrunch LA

Securities and Exchange Commission to raise its third growth-stage investment fund. Though the firm typically invests at the seed and Series A, capital from Upfront Growth III will be used for follow-on or late-stage deals. Last year, companies headquartered in LA raised more than $60 billion.

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Starship Technologies picks up €50M from the EU’s investment arm to expand its fleet of autonomous delivery robots

TechCrunch LA

Now it’s picking up some funding along with an endorsement Europe to further its growth. The startup has received €50 million (just under $57 million at today’s rates) from the European Investment Bank, the funding arm of the European Union. The funding from the EIB ticks a couple of different boxes for the EU.

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Rivian Seeking New Funding At $25 Billion Valuation

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Electric truck maker Rivian--which has operations in Southern California, despite being based in Michigan--is apparently in the midst of yet another funding, and is raising a round valuing the company at $25 billion, according to Bloomberg. The company just raised $2.5M Rivian has an office in Irvine.

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London and SF have become Impact Tech hubs, with 280% increase in VC in 5 years

TechCrunch LA

New research has found that San Francisco and London have become two of the world’s leading hubs for VC investment into tech solutions that address one or more of the 17 UN’s Sustainable Development Goals (SDG), more commonly referred to as “Impact Tech” They are followed by Paris, Berlin, Stockholm, Shanghai and Beijing.

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Tech Coast Angels Los Angeles Launches New Members Only Fund

socalTECH

The Tech Coast Angels says it has launched a new, annual fund, and is continuing to invest--despite the pandemic. The angel group, the largest in the nation, said it invested over $19M in 2019, in part due to a similar fund created by its San Diego chapter, the TCA-San Diego, last year.

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Versant Ventures Launches New Company, Lycia Therapeutics, With $50M

socalTECH

San Diego-based venture investor Versant Ventures has launched a brand new company out of its Inception Discovery Engine incubator in San Diego, saying this morning it has invested $50M in Lycia Therapeutics. professor of chemistry and HHMI investigator at Stanford University.

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