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Core Innovation Capital Sets Up Shop In LA

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In the latest positive move for the Los Angeles venture capital market, a new investor has moved into town, to take advantage of the area''s growing startup market. The fund has not yet announced local investments, but has been actively talking to companies fitting its investment profile. READ MORE>>.

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Sidecar Finds $15M More To Expand Ridesharing Fight

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It looks like the peer-to-peer marketplace for rides in Los Angeles is about to get a lot hotter, as one of the companies competing in the market-- Sidecar said this morning that it has raised $15M more in funding. Avalon Ventures is also based in San Diego. Avalon Ventures is also based in San Diego. READ MORE>>.

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StackIQ Raises $6M

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San Diego-based StackIQ , which develops IT automation tools for the enterprise, has raised $6M in a Series B funding round, according to the company. The new funding came from Grayhawk Capital, Keshif Ventures, DLA Piper, and OurCrowd, as well as Anthem Venture Partners and Avalon Ventures. READ MORE>>.

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AnaptysBio Gets $17M in Licensing Deal

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According to AnaptysBio, it will receive an upfront license fee of $17M from TESARO, plus receive funding of costs incurred in related development programs, as part of an antibody program. AnapytsBio is venture backed by Alloy Ventures, Avalon Ventures, Frazier Healthcare Ventures and Novo A/S. READ MORE>>.

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Selectable Media Expands To LA

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The company also said it has added Dan Feldstein as its Director of Marketing. Selectable Media is venture backed by Microsoft's Bing Fund, and also scored a round last October from Avalon Ventures, the San Diego venture capital firm. The company did not say how many people it plans to hire in LA. READ MORE>>.

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MOGL Gets $10M

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San Diego-based MOGL , which operates a customer loyalty program for restaurants focused on game mechanics, said today that it has raised $10M in a round of funding. The second round came from Sigma Partners, Austin Ventures, and Avalon Ventures. The firm said the new funds go towards expansion into new target markets.

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Southern California Venture Investments See Big Drop In Q1

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Venture capital investments saw a sharp drop in Q1 in Southern California, according to the latest venture numbers from the MoneyTree report. The report, released by PricewaterhouseCoopers and the National Venture Capital Association over the weekend, tallied up $534.3M That''s a 44 percent drop year-to-year for deals in Q1.