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Report: Backstage Capital Shifting To Accelerator Model After Fundraising Issues

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West Hollywood-based venture investment firm Backstage Capital is shifting entirely to an accelerator model, according to reports today, after failing to raise a new, $36M venture capital fund. Backstage Capital focuses on focuses on minorities, including women, People of Color, and LGBT founders.

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Capsule Launches Digital Pharmacy In LA

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Capsule--a well funded, venture funded startup with more than $270M in funding and backing from TCV, Thrive Capital, and Glade Brook Capital, as well as local investors M13 and Ashton Kutcher's Sound Ventures--has expanded into Los Angeles, part of a big expansion push by the company.

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Modern Animal Snags $75.5M For Veterinary Care

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Los Angeles-based Modern Animal, a new startup which offers up veterinary care, has raised $75.5M in funding. The funding included both a $35.5M Series A funding, led by True Ventures, and a $40M Series B funding led by Founders Fund. The funding also included Upfront Ventures.

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LaughStub Takes On Comedy Ticket Sales, With Angel Backing

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The firm--which the Tech Coast Angels revealed last week that it had funded in 2010--also has the backing of well known angel investor Paige Craig, who also sits on the firms advisory board. No details on the angel funding for LaughStub have been announced. The firm is headed by Scot Richardson. READ MORE>>.

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12Society Acquired By Quarterly

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West Hollywood-based 12Society , which operated a subscription-based, celebrity-driven gift delivery service, has been acquired by fellow Los Angeles gift subscription firm Quarterly. Quarterly is venture backed by Collaborative Fund, Initialized Capital, SV Angel, and True Ventures.

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Hutch Launches App To Remake Your New Space

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West Hollywood-based Hutch has launched a new mobile app, designed to help people with a new space immediately get ideas on how to remake them into the exact style they love--and helps to connect those users to shops to help fill that space with the right furniture for that style.

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Curious Minds Backs Ringadoc

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Los Angeles-based technology incubator Curious Minds is one of the firms backing Ringadoc , a new startup which offers up medical consultations via phone or computer. Curious Minds, which is based in West Hollywood, Curious Minds says it has been incubating companies since 2004, and lists its President and co-founder as David Gonen.