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UCLA Pulls Commitments From Binary Capital

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UCLA , a limited partner in venture capital investment fund Binary Capital , has pulled its committment to the venture fund over the weekend, after Managing Director Justin Caldbeck was accused of unwanted advances towards women. UCLA had been one of the venture capital fund's first investors.

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University of California Plans $250M Venture Capital Fund

socalTECH

Startups related to the many University of California campuses in Southern California may soon have a new source of funding: The University of California itself, via a new, $250M venture capital. The fund would seek to invest in companies started on campus, from University research, and from students. READ MORE>>.

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AuditFile, Started At UCLA, Raises $3M For Auditing Software

socalTECH

AuditFile , a developer of cloud-based auditing software for CPAs, has raised $3M in a funding round, the company said Thursday. The company was founded by Kevin Bong, who started the company in his dorm room at UCLA as a senior. The funding came from Banneker Ventures, Tim Draper, Nas Draper, as well as other angel investors.

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On Funding?—?The Denominator Effect

Both Sides of the Table

On Funding?—?The The Denominator Effect I recently wrote a post about funding for investors to think about having a diversified portfolio , which I called “shots on goal.” If you funded 30–40 deals perhaps just 1 or 2 would drive the lion’s shares of returns. This is Venture Capital. Venture is a numbers game.

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UCLA To Tap Outside Board For Startup Deals

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The group will tap a yet un-named group of outside experts to help technology startups coming out of UCLA to better navigate their way through commercialization efforts. The moves come as the University of California system approved a move to allocate $250M in a venture capital fund to invest in startups founded by UC faculty and students.

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Verge Genomics, Founded By UCLA Scientists, Raises $4M In Seed Funding

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Verge Genomics , a biopharmaceuticals startup founded by scientists out of UCLA, said Tuesday that it has raised $4M in a seed financing round. The funding was led by IA Ventures, and also included Two Sigma Ventures, Draper Associates, Great Oaks VC, Slow Ventures, Karlin Venture, Elad Gil and David Lee.

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Silicon Beach Report March 17: Kite Pharma Names UCLA Researcher to Board.

L.A. Business Journal

Kite Pharma names UCLA researcher to board of directors, Embark Ventures looks to raise $50 million venture capital fund.

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