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Riot Games Acquired By Tencent

socalTECH

Los Angeles-based Riot Games , the online videogame developer headed by Brandon Beck, said late Friday that Tencent Holdings has acquired a majority stake in the company. Tencent is one of the biggest Internet services providers in China. The firm had raised less than $20M in funding. READ MORE>>.

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Riot Games Snags Mohn For Board

socalTECH

Los Angeles-based Riot Games , a venture backed developer of online games, said Wednesday that it has added Jarl Mohn to its board of directors. Riot Games is backed by online Chinese services firm Tencent, Firstmark Capital, Benchmark Capital, as well as angels Mitch Lasky and Rick Heitzmann.

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Riot Games Raises $8M

socalTECH

Los Angeles-based Riot Games , a developer of online video games, announced today that it has raised a new, $8M round of financing. The round came from Benchmark Capital, FirstMark Capital, and Chinese online services firm Tencent. READ MORE>>.

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White House Order Bans TikTok, WeChat

socalTECH

The executive order cited a "national emergency with respect to the information and communications technology and services supply chain". TikTok has 1500 U.S. employees, with its largest office in Culver City. READ MORE>>.

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Pragma is a back-end toolkit for gaming companies, so game developers can focus on games

TechCrunch LA

. “ In the game world, because of the necessity to build multiplayer, the length to launch a game has gotten way, way, way, way longer. Games are taking five to 10 years to launch out of beta,” Chen said. . The company raised $4.2

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Looking At LA's Technology Future with Derek Norton

socalTECH

Derek Norton is head of Los Angeles-based Watertower Group (www.watertowergroup.com), a firm which helps companies raise funding, one of the rare companies which has a track record and good reputation helping companies with fundraising, and also runs its own investment fund. Those are two big gaming companies.

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The Changing Venture Landscape

Both Sides of the Table

At Upfront we have always done 40% of our investing in Greater Los Angeles and it’s precisely for this reason. But we also organize ourselves around practice areas and have done for the past 7 years and these include: SaaS, Cyber Security, FinTech, Computer Vision, Sustainability, Healthcare, Marketplace businesses, Video Games?—?each