Female-Led Emmeline Ventures Launches, Backs Crypto Wallet Startup

Harri Weber

Harri is dot.LA's senior finance reporter. She previously worked for Gizmodo, Fast Company, VentureBeat and Flipboard. Find her on Twitter and send tips on L.A. startups and venture capital to harrison@dot.la.

From left: Emmeline Ventures co-founding partners Azin Radsan van Alebeek, Naseem Sayani and La Keisha Landrum Pierre.
Courtesy of Emmeline Ventures

Emmeline Ventures—a new all-female, minority-led venture capital firm—has set up shop in Los Angeles, with its first check going to a local early-stage crypto startup.

The new venture firm, based in L.A. and Phoenix, is still in the process of securing its initial fund, with a goal of raising $5 million to $8 million. The fund’s first close is expected at the end of April and will bring in as much as $1.6 million, a spokesperson for the company told dot.LA.

While Emmeline is new to the scene, its partners are not. The firm’s three co-founders—Sahara Reporters chairwoman La Keisha Landrum Pierre, Digital Oxygen founder Naseem Sayani and investor Azin Radsan van Alebeek—say they had collectively invested in 13 pre-seed and seed-stage startups before teaming up.

Along with the new fund, Emmeline announced its first deal—contributing $30,000 toward a seed round for Clutch Wallet, a Los Angeles-based startup that offers a digital wallet for the Ethereum blockchain. “Having female investors fund our product that will generate more wealth for women is a strategic full circle of women helping women,” Clutch Wallet founder and CEO Bec Jones said in a statement.

Emmeline plans to back as many as 20 female founders via its initial fund, targeting startups that “help women, in particular, manage their health, build their wealth, and live in a safer, cleaner world.” But what, exactly, does that mean?

“For us, a cleaner, safer world includes everything from what we wear and eat, to what

we watch, read, and listen to,” a spokesperson for Emmeline told dot.LA in an email. “We believe everything from supply chains to software to content systems can be safer, more bias-free, and more inclusive of the humans who engage with them—and this is where we invest.”

Speaking of inclusivity, it’s not very common in the world of venture capital. The VC industry is instead known for its homogeneity, as it’s largely led by men who primarily invest in male founders. Last year, only 2% of the funds deployed by venture capitalists in the U.S. went to solely female-led startups, according to a recent PitchBook report.

“Our goal is to have an active role in changing the venture investing landscape,” Emmeline partner Landrum Pierre said in a statement. “How? By funding companies that have a meaningful, positive impact on how women lead their lives in the future.”

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LA Tech ‘Moves’: Mapp Gains New CPO and CTO, Prodoscore Taps Boeing Exec

Decerry Donato

Decerry Donato is a reporter at dot.LA. Prior to that, she was an editorial fellow at the company. Decerry received her bachelor's degree in literary journalism from the University of California, Irvine. She continues to write stories to inform the community about issues or events that take place in the L.A. area. On the weekends, she can be found hiking in the Angeles National forest or sifting through racks at your local thrift store.

LA Tech ‘Moves’: Mapp Gains New CPO and CTO, Prodoscore Taps Boeing Exec
LA Tech ‘Moves’:

“Moves,” our roundup of job changes in L.A. tech, is presented by Interchange.LA, dot.LA's recruiting and career platform connecting Southern California's most exciting companies with top tech talent. Create a free Interchange.LA profile here—and if you're looking for ways to supercharge your recruiting efforts, find out more about Interchange.LA's white-glove recruiting service by emailing Sharmineh O’Farrill Lewis (sharmineh@dot.la). Please send job changes and personnel moves to moves@dot.la.

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This Week in ‘Raises’: GITAI Lands $30M, Steno Gains $15M

Decerry Donato

Decerry Donato is a reporter at dot.LA. Prior to that, she was an editorial fellow at the company. Decerry received her bachelor's degree in literary journalism from the University of California, Irvine. She continues to write stories to inform the community about issues or events that take place in the L.A. area. On the weekends, she can be found hiking in the Angeles National forest or sifting through racks at your local thrift store.

Raises
Image by Joshua Letona

A local space robotics startup raised fresh funding to expand the flight model manufacturing facilities throughout the U.S. and increase employment, while a remote litigation platform raised more funding to continue growing its footprint in new markets across the country, develop service channels for its clients and continue expanding its tech team.

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Gitai Raises $30 Million to Expand Manufacturing Footprint in Los Angeles

Samson Amore

Samson Amore is a reporter for dot.LA. He holds a degree in journalism from Emerson College. Send tips or pitches to samsonamore@dot.la and find him on Twitter @Samsonamore.

Gitai Raises $30 Million to Expand Manufacturing Footprint in Los Angeles
\u200bPhoto: Gitai

Space robotics company Gitai raised a $30 million Series B extension this week, bringing the total value of the round to roughly $47 million.

The funding will be used to further develop Gitai’s suite of space robots as well as build out its manufacturing footprint in Torrance. Previously Gitai announced it raised a $17.1 million Series B in March 2021; this additional raise is still part of that round.

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