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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. Among the successes driving the creation of the fund was the IPO of Santa Monica-based Kite Pharma, which is a spinout of UCLA. READ MORE>>.

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Two Local Tech, Investment Executives Named In College Fraud Investigation

socalTECH

Two people associated with Southern California's high tech investment and startup industry have been named as part of the far reaching investigation into a college admissions scandal , which named Hollywood actresses, CEOs, coaches at USC, UCLA, and UCSD, as well as many others. According to a complaint filed by the U.S.

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Bird Banks $100M In Series B

socalTECH

The funding was co-led by Valor Equity Partners and Index Ventures, and also included Craft Ventures, Goldcrest Capital, plus Tusk Ventures and Upfront Ventures. Bird currently offers up its services in Santa Monica, Venice, UCLA, Westwood, and San Diego, and is looking at a nationwide expansion with the new funding.

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Enlibrium Finds $15M For Cancer Drugs

socalTECH

San Diego-based Enlibrium announced Thursday that it has raised $15M in a Series A financing, to go towards cancer therapeutics. The company was founded by Dr. Michael Jung and Dr. Richard Pietras, both of whom are professors at the University of California, Los Angeles (UCLA). Enlibrium is being led by David Campbell, Ph.D.

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Southern California needs to find its hub for it to develop its own tech ecosystem

TechCrunch LA

We’ve also seen a substantial inflow of venture capital from all over the world.”. Caltech generates more patents than any other university while UCLA boasts more startups founded by its graduate than any other school in the nation. In fact, as is well-reported, the luster of Silicon Valley is fading.

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Car Sharing Firm Zipcar Heading To Los Angeles

socalTECH

Car sharing startups have become immensely popular in areas such as Boston and San Francisco, with heavy competition between Zipcar, Relayrides, and Getaround. Zipcar is venture backed by Benchmark Capital, Boston Community Ventures, Greylock Partners, Meritech Capital, and Pinnacle Ventures.

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New Bootstrap Fund Pulls Itself Up in World of Health IT Deals

Xconomy

Healthtech entrepreneur Parker Hinshaw and his wife Jean Balgrosky said they intended to take a step back when they founded Bootstrap Incubation near San Diego in the fall of 2012. They came to San Diego in 1996, when Scripps Health hired Balgrosky as CIO and senior vice president. He founded MaxIT Healthcare in 2001.