Finance

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A group of investors led by The Chernin Group (TCG) has taken a $263 million stake in Funko, the toy company best known for its licensed figurines of popular movie and TV characters.

Los Angeles-based TCG and its partners will own 25% of Funko once the transaction closes, the companies announced Thursday. Other investors in the group include e-commerce giant eBay, former Disney CEO Bob Iger and sports super-agent Rich Paul of Klutch Sports Group.

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Phote by Minnie Ingersoll

Michael Carney grew up as an athlete. That may be why he views venture capital as a team sport.

On this episode of the LA Venture podcast, the senior vice president of Evoke Advisors discusses the guidance he gives to entrepreneurs and his take on the current investment landscape.

At Evoke, Carney counsels clients on their public and private market investment strategies. He also oversees Evoke’s $100 million fund of funds where he invests directly into VC funds. Carney brought his years of experience working at a venture capital firm and covering the Los Angeles business scene as a journalist to help Evoke navigate the startup ecosystem.

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BayaniPay, a Manhattan Beach-based fintech startup that provides cross-border money transfers to Asian countries, has unveiled a new partnership with Pasadena-based East West Bank on a checking account product that will allow customers to bank with BayaniPay and should make it cheaper and easier for them to send money.

Since launching last summer, BayaniPay has focused its efforts allowing users to send money between the U.S. and the Philippines, which it describes as a $12 billion cross-border remittance market driven by the more than 2 million Filipinos living and working in the U.S. The startup partnered with BDO Unibank, the largest bank in the Philippines, enabling money sent from the U.S. to be received at thousands of bank branches and ATMs across the country.

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