The Founders of Color Changing LA's Startup World

Ben Bergman

Ben Bergman is the newsroom's senior finance reporter. Previously he was a senior business reporter and host at KPCC, a senior producer at Gimlet Media, a producer at NPR's Morning Edition, and produced two investigative documentaries for KCET. He has been a frequent on-air contributor to business coverage on NPR and Marketplace and has written for The New York Times and Columbia Journalism Review. Ben was a 2017-2018 Knight-Bagehot Fellow in Economic and Business Journalism at Columbia Business School. In his free time, he enjoys skiing, playing poker, and cheering on The Seattle Seahawks.

The Founders of Color Changing LA's Startup World

Even after the tech industry's reckoning after the killing of George Floyd last year, the startup world is still overwhelmingly dominated by white men.

Of the $150 billion in venture funding raised by U.S startups last year, just $1 billion went to Black founders, according to Crunchbase.

And Southern California is hardly bucking the trend. Just 2% of VC investment partners here identify as Black or Latino and less than 10% of VC-funded companies are led by women or people of color in Southern California, according to PledgeLA.

But even though progress has been slow, there are founders of color helping lead the new wave of tech startups.

Who stands out? We asked the region's top VCs to weigh in.


The list includes a young CEO who grew up without internet access who's now building an esports empire as well as a music industry veteran using artificial intelligence to predict what songs will become breakout hits.

Here is who topped the list in alphabetical order of votes received.

Delane Parnell

Delane Parnell

Delane Parnell

PlayVS' founder didn't grow up with internet access. But now the young CEO is building an online esports empire. The Detroit native told dot.LA that a chance meeting brought him to Los Angeles where the company took off, raising $108 million since launching in 2018.

Since it entered the esports marketplace for high school teams, PlayVS has raised $107 million. Now, 43% of all high schools in the country have an esports team, playing Fortnite, SMITE, League of Legends and other games using the PlayVS platform. But Parnell has larger ambitions.

"I still want to build a digital playground in which every gamer can compete, whether they're high school-aged or college-aged or in their 40s in any sort of context of competition," he told dot.LA in April.

Hamet Watt

Hamet Watt

Hamet Watt

Hamet Watt, co-founder and former chairman of MoviePass, unveiled Share Ventures last fall after raising over $10 million in funding. The venture studio aims to jumpstart companies that focus on human performance or wellness.

"We like to use human performance because it expands the definition," Watt told dot.LA. "It's not just things like yoga. It's sports tech, behavior science and human optimization."

Watt said he is the only Black person he knows of running a venture studio and by virtue of his diverse network he can tap into talent others may have overlooked.

"You can't make money doing the same thing everyone else does," he said. "You can't fish in the same talent pond that everyone else does."

Troy Carter

Veteran music executive Troy Carter is constantly reinventing the business of music management. The angel investor's latest project is Q&A, where he is co-founder and CEO. Founded in early 2019, the company not only does music distribution and analytics, but it has been testing a new product that uses music enthusiasts and AI to test whether songs can become hits.

"My job, with software, is: Can I help them choose which song they should release first? And what that reaction would be around that song. Can I help them deliver that content from A to Z seamlessly? Can I help them with their project management software? So, it's not to replace the creative process, it's to organize it," Carter told dot.LA.

The Philadelphian-turned-Angeleno was the founder and CEO of Atom Factory, where he rose to prominence managing the careers of global superstars including Lady Gaga and John Legend. Most recently, he led creator services at Spotify and, in 2017, was named entertainment advisor to the Prince Estate.

He also created AF Square Investments, which has backed Uber, Lyft, DropBox, Blavity, and Gimlet Media among others.

Allan Jones

Allan Jones

Allan Jones

Former ZipRecruiter Chief Marketing Officer Allan Jones' came from a family of small business owners. Bambee, the human resources company he founded, was his answer to the disparity he saw in accessibility to top-tier HR managers.

"This year in particular has verified the feeling we've had since starting Bambee," Jones said in a statement according to a Bambee Linkedin post. "Human resources can no longer just be for the Fortune 500."

Founded in 2016, Bambee connects small businesses with a dedicated HR manager for an affordable $99/month. The company has raised a total of $33 million in funding rounds primarily led by QED investors, and is now valued at $145 million according to Pitchbook.

Jones credits his family of small business owners for Bambee's mission. "My inspiration comes from an earnest insight into the friction and struggles of running a business day-to-day," he said in an interview with Medium earlier this year. "I had a seat at the table where those owners came home and talked about their actual business problems each night."

Hernan Lopez

Former Fox TV International CEO Hernan Lopez launched his own media startup, West Hollywood-based podcast studio Wondery, in 2016. The company quickly made a name for itself with a roster of hit shows like "Dirty John," "Dr. Death" and "Business Wars." And it raised $18 million before it was snapped up earlier this year by Amazon, reportedly for nearly $300 million.

"As a gay Latino immigrant, I have hit most of these 'celings' and have felt defeated and alone. But I was fortunate to find mentors who encouraged me to never give up and who provided guidance on how I could achieve my dreams. Now I want to give that opportunity to others," wrote Lopez in a Linkedin post.

Donny Salazar

Donny Salazar

Donny Salazar

There's probably no business more crucial in today's retail landscape than logistics.

Donny Salazar co-founded MasonHub as a way to help retailers streamline their logistics and fulfillment in 2018. His company, valued at $85 million, connects brands to its network of fully-owned and operated fulfillment centers so that they can scale more easily. To date, MasonHub has raised $21.5 million, most recently hauling in a $15 million round led by Autotech Ventures, according to Pitchbook. It counts Carbon38, 11 Honoré, MINDD, Vegamour and Bala Bangles among its clients.

Salazar, who was formerly an executive at Gilt Groupe, is focused on high-growth companies.

"Throughout my experience scaling businesses, I struggled to find a partner that could support a fast-growing brand and cared about the customer experience as much as I do," Salazar wrote earlier this year.

Lead illustration by Ian Hurley.

Correction: This story corrects the amount MasonHub raised and its valuation. A previous version relied on incorrect Pitchbook data, which has since been updated.

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Fuel Innovation: 7 Unforgettable Team Building Experiences in LA
Image Source: Discover LA

In today's competitive business landscape, team building activities have emerged as a crucial tool for fostering a positive work environment, enhancing productivity, and crucially, improving employee retention. Studies have shown that such activities help employees feel valued, with one report indicating that 93% of those who felt appreciated were more motivated at work. Importantly, team building events may improve retention rates, as employees who feel connected to their colleagues and company culture are more likely to stay long-term. With these benefits in mind, let's explore some of the most engaging and effective team building activities available in Los Angeles.

Pickleball

Image Source: Modern Luxury Angelino

Pickleball is a fantastic team bonding activity because of the easy-to-grasp rules and gentle pace make it perfect for everyone, regardless of age or fitness level. The game thrives on communication and teamwork, as players must collaborate and strategize to outplay their opponents, boosting team cohesion. Plus, the lively, fast-paced action sparks friendly competition and laughter, creating a fun and spirited atmosphere that brings everyone closer together. Los Angeles boasts numerous pickleball courts that are easy to rent if you have your own equipment. If you need additional assistance organizing your pickleball outing, there are plenty of full-service companies ready to handle every detail for you.

Resources: Pickle Pop, Corporate Pickle


Escape Room

Image Source: The Escape Game

Escape rooms are a great way to build camaraderie. They require participants to work together, combining their problem-solving skills and creativity to overcome challenges and puzzles. The immersive and time-sensitive nature of escape rooms fosters collaboration and communication. Additionally, the shared experience of tackling complex tasks and reaching a common goal helps build trust and foster positive emotions among colleagues.

Resources: The Escape Game, 60Out


Day Trip to Catalina Island

Image Source: Love Catalina

Catalina Island is a perfect day trip for a team because it provides a break from the usual work environment, allowing team members to relax and connect in a new setting. Shared experiences during the trip, such as exploring new places and participating in fun activities, help build stronger relationships and foster a sense of camaraderie. There are numerous team-building activities such as an arboreal obstacle course, an island tour, scavenger hunts and more.

Resources: Catalina Island Group Activities


Top Golf

Image Source: Topgolf

Topgolf is an excellent team building event because it provides an inclusive, relaxed atmosphere that accommodates players of all skill levels, fostering personal connections and improving team morale. The unique blend of competition and entertainment creates an ideal setting for building trust, enhancing communication, and revealing hidden skills among team members. Additionally, Topgolf offers structured team building packages with guided activities, discussion prompts, and lessons on culture, change, collaboration, and strategy, making it a versatile and effective platform for strengthening relationships and boosting overall team performance.

Resources: Topgolf El Segundo


SoFi Stadium Tour

Image Source: Discover LA

A SoFi Stadium tour offers a unique, behind-the-scenes experience of one of the world's most advanced sports venues, allowing team members to explore exclusive areas like premium suites, team locker rooms, and the player tunnel together. The tour provides a shared, memorable experience that can foster camaraderie and spark conversations among team members, regardless of their interest in sports. Additionally, the stadium's state-of-the-art features and impressive architecture can inspire creativity and innovation, while the group setting encourages interaction and collaboration, making it an engaging and enjoyable activity for teams of various sizes and backgrounds

Resources: SoFi Stadium Group Tours


Corporate Volunteering

Image Source: L.A. Works

Volunteer work serves as an excellent team building activity by uniting employees around a shared, meaningful cause, fostering a sense of purpose and collective accomplishment. It provides opportunities for team members to collaborate in new ways, often revealing hidden strengths and leadership qualities that may not be apparent in the regular work environment. Additionally, engaging in community service can boost morale, enhance the company's reputation, and instill a sense of pride among employees, leading to improved workplace relationships and increased job satisfaction.

Resources: Habitat for Humanity, L.A. Works, VolunteerMatch


Corporate Improv Sessions

Image Source: Improv for the People

A corporate improv class encourages spontaneity, creativity, and quick thinking, skills that are valuable in the workplace. It promotes active listening and collaboration, as participants must work together to create scenes and respond to unexpected situations, fostering better communication and trust among team members. Additionally, the playful and often humorous nature of improv helps break down barriers, reduces stress, and creates a shared positive experience that can improve team morale and cohesion long after the event.

Resources: Improv-LA, Groundlings, Improv for the People

🎬 Paramount and Skydance Are Back On
Image Source: Paramount

Happy Friday Los Angeles! Hope you all had a fantastic Fourth!!

🔦 Spotlight

Paramount and Skydance Media have rekindled talks to merge after negotiations abruptly halted in June. The proposed deal, contingent on approval from Paramount’s board, aims to combine Paramount’s extensive media holdings—including CBS, MTV, and Nickelodeon—with Skydance’s film expertise showcased in hits like "Top Gun: Maverick." This merger signals a potential transformation in the media landscape, positioning the new entity to compete more effectively amid challenges from streaming services and the decline of traditional cable TV.

Led by Shari Redstone, Paramount’s controlling shareholder via National Amusements, the deal represents a pivot towards revitalizing Paramount’s strategic direction amidst financial struggles and shareholder concerns. The involvement of major investors like RedBird Capital Partners and David Ellison underscores the financial backing aimed at stabilizing Paramount’s operations and addressing its $14 billion debt burden. Importantly, the agreement includes provisions to protect National Amusements from potential legal challenges, addressing previous hurdles that stalled earlier negotiations.

The deal also includes a 45-day period for Paramount to explore alternative offers, highlighting continued interest from other potential buyers like Barry Diller’s IAC and media executive Edgar Bronfman Jr. This flurry of activity underscores the significant stakeholders’ interest in Paramount’s future and its potential as a key player in a rapidly evolving media industry.


🤝 Venture Deals

LA Companies

  • Sidecar Health, a startup that offers personalized health insurance plans to businesses that allow members to see any doctor and pay directly at the time of service, raised a $165M Series D led by Koch Disruptive Technologies. - learn more

LA Venture Funds


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