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LA Tech Updates: LA's Largest VC is Now a Public Benefit Corp; Treehouse Games Raises $2.6M

Here are the latest updates on news affecting Los Angeles' startup and tech communities. Sign up for our newsletter and follow dot.LA on Twitter for more.

Today:

  • LA's Largest VC is Now a Public Benefit Corp
  • Treehouse Games Raises $2.6M

      'Collaborative' Game-Maker Treehouse Games Raises $2.6M

      Treehouse Games, founded by former Riot Games product lead Michael Chu and indie games studio veteran Ryan Sullivan, has raised $2.6 million in seed funding. The studio will focus on making collaborative games "to serve a growing, global audience of millions of people who use games as their favorite way to hang out," the company said in a statement.

      London Venture Partners (LVP) led the funding round. Bay Area-based Transcend Fund and Super Evil Megacorp CEO Kristian Segestrale also participated.

      Chu and Sullivan told dot.LA that "it's too early to go into specifics about the game, but our team is hard at work building an innovative cooperative game to bring friends and family together."

      "We want to create games that give you that feeling of camaraderie during a road trip, or the sense of generosity you get when buying your friend a cup of coffee," the founders said.

      Fifth Wall Venture Firm Is Now a B Corporation

      fifthwall.com

      Fifth Wall announced this week it is now a Certified B Corporation or "B Corp," which means it is legally required to consider the impact of its decisions on workers, customers, suppliers, community, and the environment.

      Fifth Wall is the largest venture capital firm focused on real estate tech, known as proptech. It announced the close of its second real estate technology fund last year, with $503 million in dry powder, making it the largest VC fund in Los Angeles.

      "It is incumbent upon all of us to take actionable steps towards building a more equitable and sustainable society," said Brendan Wallace, co-founder and managing partner at Fifth Wall. "We're grateful to the resources and community offered by B Lab to help our firm as we continue to educate ourselves and make changes within our own organization."

      Fifth Wall is now part of a cohort of 3,939 other B-Corps that include names like Ben & Jerry's, Allbirds, and Patagonia.

      The real estate industry accounts for 40% of the world's consumption of energy and Fifth Wall says it is ready to help make construction more sustainable. Earlier this year, the firm announced a new carbon impact fund.

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      In this episode of LA Venture, Julie Wroblewski talks about starting Magnify Ventures and helping modern families.

      Wroblewski worked with Melinda French Gates to start Pivotal Ventures. For Wroblewski, it was her dream job as she got to lead venture capital investment strategy for five years. One of the focus areas at Pivotal was around caregiving innovation and American family homes.

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      Minnie Ingersoll
      Minnie Ingersoll is a partner at TenOneTen and host of the LA Venture podcast. Prior to TenOneTen, Minnie was the COO and co-founder of $100M+ Shift.com, an online marketplace for used cars. Minnie started her career as an early product manager at Google. Minnie studied Computer Science at Stanford and has an MBA from HBS. She recently moved back to L.A. after 20+ years in the Bay Area and is excited to be a part of the growing tech ecosystem of Southern California. In her space time, Minnie surfs baby waves and raises baby people.

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      Read more Show less
      Minnie Ingersoll
      Minnie Ingersoll is a partner at TenOneTen and host of the LA Venture podcast. Prior to TenOneTen, Minnie was the COO and co-founder of $100M+ Shift.com, an online marketplace for used cars. Minnie started her career as an early product manager at Google. Minnie studied Computer Science at Stanford and has an MBA from HBS. She recently moved back to L.A. after 20+ years in the Bay Area and is excited to be a part of the growing tech ecosystem of Southern California. In her space time, Minnie surfs baby waves and raises baby people.
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