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Santa Monica-based online car buying technology provider TrueCar said this morning that it has raised $30M in a new round of funding, from Vulcan Capital, the venture funding arm of Microsoft co-founder Paul Allen. TrueCar said the new funds will go towards market expansion, product development, and to build its brand.
” It’s the most common refrain I hear from investors and even entrepreneurs these days. Given how efficient markets are when a large market like LA starts to blossom it attracts capital pretty quickly. billion in venture capital to LA’s technology startups and 2014 will shatter that figure.
He didn’t tell it in the video but, ever the entrepreneur, Scott started a business to take couples up on a “mile high club&# flight on airplanes as a way of getting all of his miles logged to get his next class of airplane license that required a certain number of hours logged. It’s part of what makes him so likable.
Santa Monica-based Troy Capital Partners , a new venture investment firm led by Josh Berman, Brian Sullivan, and Samit Varma, has backed a veteran of TrueCar for a new startup called Rollick Outdoor. Rollick Outdoor is based in Austin, where Brenner was based while at Santa Moinca-based TrueCar. READ MORE>>.
VentureNet, which is put on by the Technology Council of Southern California, included keynotes by Kelly Perdew of Rotohog and Zorik Gordon of ReachLocal, plus capital presentations from Cyber-Rain, FlipGloss Media, Viewdle, Social Approach, Ad.ly, Zadspace, RightSignature, Cogi, YouMail, ExpenseBay, AffordIt.com, SharesPost, and TrueCar.
Cincinnati, like many startup communities in the US over the past 5 years, has revitalized important regions in its urban core, created accelerators, built co-working facilities, pooled together angel capital, attracted VCs, involved educational institutions and solicited the help of important corporations in a more cohesive ecosystem.
Our other big wins came from Chicago (Ulta & Envestnet), Baltimore (BillMeLater), New York (DealerTrack) & LA (TrueCar). When we invest we tend to be very active in our companies and we look to invest enough capital to have meaningful ownership stakes. Women Entrepreneurs. 9 companies out of 33 drove our largest returns.
event socaltech50 awards entrepreneur entrepreneurship feature dfr2013' Getting to this list was not easy: we received over 700 nominations for people to be considered on the list, and it took a lot of work by our selection committee to whittle down the list to the finalists.
Fair is the latest venture of Scott Painter, the serial entrepreneur behind TrueCar. The company is venture backed by Javelin Venture Partners, Charles River Ventures, Foundation Capital, Sherpa Capital, Moonshots Capital, and others. READ MORE>>.
Every year, at the end of the year, we share some reflections on the past year from our readers, entrepreneurs, venture capitalists, sponsors, and others in the local technology community. Today, we share the thoughts of Kelly Perdew , the founder and Managing Director of Moonshots Capital (www.moonshotscapital.com). Since 2010, $6.3B
We both wanted to build a practice that would make Los Angeles proud but where we would travel tirelessly to other locations to make investments in the best entrepreneurs wherever they were. We both wanted to put energy into GRP’s platform of services that provide more value to our investments than merely capital.
We have many seasoned entrepreneurs who have built successful companies here and made a lot of money for investors and themselves. Funding is different – In Silicon Valley you have mega venture capital funds and many of them. Entrepreneurs in LA spend a lot of time commuting up to the Valley.
Last year I was on Sand Hill Road in Silicon Valley meeting with one of the most prominent venture capital firms in the country. In my LA I often see computer screens open with entrepreneurs talking about digital media. I meet with Bay Area entrepreneurs all the time and am actively looking to make investments there.
Los Angeles-based Fair , the automotive startup led by serial entrepreneur Scott Painter, has raised nearly $1 billion in a strategic funding, led by BMW i Ventures, along with Penske Automotive Group, Sherpa Capital, and others. The funding also included other, un-named strategic investors.
We asked the same five questions of a variety of top technology entrepreneurs, investors, and others, to hear what they're thinking about, and are sharing it here over the next two weeks. Yesterday, we heard from Scott Painter of TrueCar. Today, we spoke with Mark Suster , a venture capitalist at GRP Partners.
Fair (www.fair.com), the latest startup by serial entrepreneur Scott Painter , does just that, letting users shop for a car, get approved, and pay for a car through a month-to-month payment--with no long term committment. What lessons did you learn from TrueCar, which are you are applying here? What is Fair all about? READ MORE>>.
The roster of speakers was vast and just off of the of my head it included the founders of DropBox, Box, WordPress, EverNote, TrueCar, HootSuite, Charity Water, DataSift, Indiegogo, Huddle, oDesk (and many others) plus the usual cast of characters such as Robert Scoble, Gary Vaynerchuk, Dave McClure, Ben Huh, Shak, Shervin and many others.
We basically got venture capital money, without having to give away any of the company. You've also got a deal with TrueCar, correct? We did a bunch of research into services like TrueCar, and how they presented things, played with those services, and so on. That's exactly what I did. Tara Weingarten: That's a really cool thing.
Mark has also been quite active mentoring entrepreneurs, We caught up with Mark to hear about what kinds of investments GRP is looking at nowadays, his view on the software-as-a-service market, and how best to approach him with a pitch. You know Zag, herein town, and more recently our new car investment, TrueCar.
Every so often--particularly in Southern California--you run into a serial entrepreneur, with multiple successes and great track record-- yet, who very few people are aware of. Locally, those are companies like LegalZoom, GameFly, TrueCar, and ShoeDazzle. All five of my companies have returned a lot of capital.
Put a half-dozen entry-level tech entrepreneurs together anywhere outside of the Bay Area, and it won’t take long before they start listing the local market deficiencies. In San Diego, the complaints often focus on the relative scarcity of venture capital and hometown VC firms. What does it take to build a startup in today’s market?
We’ve been dying to tell you all for a while that we had raised a new venture capital fund and of course given SEC filing requirements the story was somewhat already scooped by the always-in-the-know Dan Primack a few weeks ago. Will our strategy change now that we have 40% more capital? . Why do they invest in venture capital?
There is all sorts of advice on the Internet about how to raise capital. I’ve raised money as a “hot company” and I’ve raised capital when no one would return my phone calls. I raised money as an entrepreneur, like you, in 1999, 2000, 2001, 2003 and 2005 for two different companies. Tell a friend!
Editor's note: As we head into the new year, we've been featuring reflections on 2018 from notable investors, entrepreneurs, and others from Southern California's technology community. This morning's reflections are from Kelly Perdew , managing general partner of at Moonshots Capital (www.moonshotscapital.com).
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