These Are LA's Top Venture Capitalists of 2022, According to Their Fellow VCs
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On the heels of a record-setting year for Southern California’s startup environment, we asked more than 30 leading Los Angeles-based investors for their take on the city’s top venture capitalists. (Specifically, we prompted: “Which L.A.-based VCs impress you the most?”) They responded with the names of 45 peers that they admire—14 of whom made the following list by receiving two or more votes.
The results offer an insider’s view of the L.A.’s startup scene in 2022—which, even as it rapidly expands, remains an insular world led by a handful of key dealmakers, like the venture capital industry at large. This year, TenOneTen partner Minnie Ingersoll and Bonfire Ventures managing director Mark Mullen tied for the top spot, with five votes apiece; they were followed by Wonder Ventures managing partner Dustin Rosen, who received four votes. Behind them, five VCs tied for third place with three votes each, while another six investors round up the list with two votes apiece.
Like last year’s list (which also featured Bonfire’s Mullen in the top spot), the below results are sorted by the number of votes each VC received; where there were ties, we list the investors alphabetically by their last names. As always, we asked survey participants not to vote for any of their colleagues—and vetted the list to ensure they stuck to that rule.
Without further ado ado, here are LA’s top VCs of 2022, as judged by their peers.
Minnie Ingersoll, TenOneTen Ventures
Minnie Ingersoll, TenOneTen Ventures (5 Votes)
Minnie Ingersoll is a partner at early-stage venture firm TenOneTen, whose recent investments include crypto travel rewards startup FlyCoin. Prior to TenOneTen, she co-founded Shift Technologies, an online marketplace for buying and selling used cars. Ingersoll also spent more than a decade at Google, where she focused on the tech giant’s fiber optic, advertising and charitable efforts. (She also hosts dot.LA’s LA Venture podcast.)
Mark Mullen, Bonfire Ventures
Mark Mullen, Bonfire Ventures (5 Votes)
Mark Mullen is co-founder and managing director of Bonfire Ventures, an early-stage venture firm that backs business-to-business (B2B) software startups. (Recent investments include cloud communications startup Telgorithm.) Mullen previously managed venture funds Double M Partners and Mull Capital. In January, an SEC filing revealed that Bonfire aimed to raise $165 million for its third fund. (Disclosure: Mullen is an investor in dot.LA.)
Dustin Rosen, Wonder Ventures
Dustin Rosen, Wonder Ventures (4 Votes)
Dustin Rosen is the founder and managing partner of Wonder Ventures, an early stage investor in companies including L.A.-based unicorns Whatnot and Bird. Earlier in his career, Rosen founded the fashion app Pose and was a senior associate at the Mail Room Fund. Last month, Wonder launched a $31 million fund focused exclusively on early-stage L.A. startups.
Jim Andelman, Bonfire Ventures
Jim Andelman, Bonfire Ventures (3 Votes)
Alongside Mark Mullen, Jim Andelman is a co-founder and managing director at Bonfire Ventures, an early-stage venture firm focused on B2B software startups. Previously, he oversaw software deals for Bay Area investment firm Broadview Capital Partners.
Anna Barber, M13
Anna Barber, M13 (3 Votes)
Anna Barber is a partner at M13, a venture firm focused on early-stage consumer tech companies. (Recent investments include NFT startup Unblocked.) Barber is also an advisor to the USC Marshall Venture Fund. She previously led Techstars LA as its managing director and co-founded Scribble Press, a New York-based book publishing startup. (Disclosure: M13 is an investor in dot.LA.)
Eva Ho, Fika Ventures
Eva Ho, Fika Ventures (3 Votes)
Eva Ho is a general partner at Fika Ventures, a seed-stage firm that focuses on sectors including AI, automation and big data. Ho formerly worked at Google and served as entrepreneur-in-residence for the city of Los Angeles.
Jeff Morris, Chapter One
Jeff Morris, Chapter One (3 Votes)
Jeff Morris is the founder and managing partner of Chapter One, a venture firm targeting early-stage web3 startups. The former Tinder executive’s previous investments include Dapper Labs, Lyft, Cameo and PearPop.
Dana Settle, Greycroft
Dana Settle, Greycroft (3 Votes)
Dana Settle is a co-founder and managing partner at Greycroft, which has backed consumer-focused startups including Acorns, Goop and Bumble. The Lehman Brothers alum helped Greycroft close two funds worth nearly $700 million combined in late 2020. (Disclosure: Greycroft is an investor in dot.LA.)
Josh Diamond, Walkabout Ventures
Josh Diamond, Walkabout Ventures (2 Votes)
Josh Diamond is a general partner at Walkabout Ventures, a seed-stage venture firm that primarily targets fintech startups. Diamond previously served as a principal investor at Clocktower Technology Ventures.
Buck Jordan, Wavemaker Labs
Buck Jordan, Wavemaker Labs (2 Votes)
Buck Jordan is the founder and CEO of Wavemaker Labs, which funds and incubates startups in partnership with larger corporations. Wavemaker has especially targeted the food industry supply chain space—backing automated technologies at both the agricultural and food preparation stages that deploy AI and robotics.
Kara Nortman, Upfront Ventures
Kara Nortman, Upfront Ventures (2 Votes)
Kara Nortman is a managing partner at Upfront Ventures. An alum of IAC, Battery Ventures and Microsoft, Nortman previously co-founded children’s ecommerce startup Moonfrye and also helped launch women’s professional soccer club Angel City FC. Upfront raised $177 million for a new fund in January; local portfolio companies include GOAT, Creator Now and Endgame. (Disclosure: Upfront Ventures is an investor in dot.LA.)
Spencer Rascoff, 75 & Sunny
Spencer Rascoff, 75 & Sunny (2 Votes)
Spencer Rascoff is a co-founder and general partner at 75 & Sunny, a venture firm and startup incubator. Focused on sectors including proptech and ecommerce, Rascoff previously co-founded Zillow, Hotwire.com and real estate platform Pacaso (Disclosure: Rascoff is the co-founder and executive chairman of dot.LA.)
Adriana Saman, Clocktower Technology Ventures
Adriana Saman, Clocktower Technology Ventures (2 Votes)
Adriana Saman is a principal at Clocktower Technology Ventures, a venture firm investing in early-stage fintech startups across the U.S., Europe and Latin America. Saman was previously an analyst at JPMorgan Chase.
Sara Zayani, Global Founders Capital
Sara Zayani, Global Founders Capital (2 Votes)
Sarra Zayani is a partner at Global Founders Capital. The Greycroft alum has led Global Founders’ investments in local startups including Cann, Universal Hydrogen and Pacaso.
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1. It’s Bigger Than It Looks—Even From the Inside
The floor is massive—laying out original products from Amazon’s own apparel lines alongside name brands like Theory, Adidas and Calvin Klein, as well as several other lines that have up until now only existed online. But the actual store is much larger than the two floors that most customers will only ever see.
Amazon Style is just the front—the homepage, if you will—behind which a large warehouse facility keeps a gigantic surplus of inventory. A floor-to-ceiling glass window on the main floor gives shoppers just a peak behind the scenes, as employees help load industrial-sized elevators with racks of goods to send upstairs to the dressing rooms.
2. Online Shopping IRL
When perusing the store’s bouquet of cottagecore maxi dresses, Kendall & Kylie blazers and, yes, a whole section dedicated to Y2K apparel, one doesn’t just pick an item off the rack and take it with you while you shop. Instead, each rack has a barcode that you can scan via the Amazon Shopping app, which has your sizes pre-loaded from previous purchases. (You can opt for a different size if you choose.) That cues an AI-enabled algorithm to start searching through the store’s warehoused catalog and zip the desired item over to the second floor, where the dressing room provides its own glimpse into the future of shopping.
The store also boasts a version of The Drop, an Amazon staple that allows online customers to shop entire influencer-curated collections for a 30-hour flash window.
3. Changing Stations of the Future—Today
Your phone also acts as your keycard to get into your personal dressing room. To prevent waiting, you are put in a virtual cue the moment you scan your first item; should the Amazon app prompt that your room is ready while you’re still shopping, a tap of your screen allows you to hold your spot in the queue while freeing up the room for someone else. (And if your phone dies while you’re waiting, Amazon says a Style employee on the floor will be happy to help you keep your place in line, or hook you up with a charge.)
Amazon Style’s dressing rooms offer a tech-enabled twist to trying on clothes.Image by Joshua Letona
The changing room is like its own parlor trick. Designed to look like a walk-in closet, one wall has a full-length mirror and a giant touchscreen while another has all the clothes you scanned in your style and size preference. Expect to see a few surprises in there, as Amazon’s algorithm picks out other stuff you might want to try on based on your picks. It would be spooky if it wasn’t so convenient—an IRL mashup of the online retailer’s “Recommended Based on Your Purchases” and “Frequently Bought Together” features.
If an item doesn’t fit quite right or you want to see how a skirt looks in blue instead of black, just tap the touchscreen to request a variant. Or an entirely new outfit, as the screen makes available everything in the facility. Then just bring it down to checkout—perhaps the wildest part of this ride.
4. Palming the Bucks
Checking out of Amazon Style’s flagship store is what really blew my mind—although apparently it’s because I haven’t been to one of the Amazon Go, Amazon Fresh or Whole Foods locations where cashless checkouts have been an option in select stores since 2020.
I assumed you could just walk out the door with your purchase, because I watch "Saturday Night Live" sketches for news. While the Go payment option isn't available at Amazon Style, there are several checkout options to keep the experience as frictionless and non-cumbersome as possible.
One way is to take the clothes you want out of the dressing room and go directly to Amazon’s palm-enabled checkout kiosks. That’s right: Register on the spot for an Amazon One account, and you need merely to wave your hand over a little black device that reads your palm and charges your on-file payment method. It’s super convenient for everyone except $10 boardwalk psychics, who just may be put out of business by such technology.
For the more traditional set, you still have the option of paying via credit card or cash.
Shoppers can check out of Amazon Style with the wave of a palm.
Image by Joshua Letona
5. Supply & Demand & Return
Amazon Style’s brick-and-mortar location opens up a variety of new ways to shop, return and exchange clothing. For instance, you can order a load of clothes online and pick them up in the store; anything you don’t want can be returned in the store without you ever having to print a shipping label.
See something you like but don’t have time to try it on? Just scan the barcode, pick it up at the front of the store and pay on your way out without ever going into a dressing room.
The Amazon Shopping app also boasts a Deals feature, which automatically sorts for the best price on items to help customers either save money (or believe they are).
While Glendale is home to the only Style store so far, Amazon isn’t ruling out more locations. With fewer retailers able to afford rents on America’s main strips and shopping malls, Amazon’s resources—and its unique position at the intersection of tech and retail—make it easy to envision more Style stores on the horizon.
A Look Inside Amazon's New Retail Store in Glendale
Image by Joshua Letona
In order to gauge the local startup scene and who’s leading the proverbial pack, we asked more than 30 leading L.A.-based investors for their take on the hottest firms in the region. They responded with more than two dozen venture-backed companies; three startups, in particular, rose above the rest as repeat nominees, while we've organized the rest by their amount of capital raised as of January, according to data from PitchBook. (We also asked VCs not to pick any of their own portfolio companies, and vetted the list to ensure they stuck to that rule.)
Without further ado, here are the 26 L.A. startups that VCs have their eyes on in 2022.
1. Whatnot ($225.4 million raised)
Whatnot was the name most often on the minds of L.A. venture investors—understandably, given its prolific fundraising year. Whatnot raised some $220 million across three separate funding rounds in 2021, on the way to a $1.5 billion valuation.
The Marina del Rey-based livestream shopping platform was founded by former GOAT product manager Logan Head and ex-Googler Grant LaFontaine. The startup made its name by providing a live auction platform for buying and selling collectables like rare Pokémon cards, and has since expanded into sports memorabilia, sneakers and apparel.
2. Boulevard ($40.3 million raised)
Boulevard’s backers include Santa Monica-based early-stage VC firm Bonfire Ventures, which focuses on B2B software startups. The Downtown-based company fits nicely within that thesis; Boulevard builds booking and payment software for salons and spas. The firm has worked with prominent brands such as Toni & Guy and HeyDay.
3. GOAT ($492.7 million)
GOAT launched in 2015 as a marketplace to help sneakerheads authenticate used Air Jordans and other collectible shoes. It has since grown at a prolific rate, expanding into apparel and accessories and exceeding $2 billion in merchandise sales in 2020. The startup sealed a $195 million funding round last summer that more than doubled its valuation, to $3.7 billion.
The Best of the Rest
VideoAmp ($578.6 raised)
Nielsen competitor VideoAmp gathers data on who's watching what across streaming services, traditional TV and social apps like YouTube. The company positions itself as an alternative to so-called "legacy" systems like Nielsen, which it says are "fragmented, riddled with complexity and inaccurate." In addition to venture funding, its total funding figure includes more than $165 million in debt financing.
Mythical Games ($269.4 million raised)
Seizing on the NFT craze, Mythical Games is building a platform that powers the growing realm of “play-to-earn games.” Backed by NBA legend Michael Jordan and Andreessen Horowitz, the Sherman Oaks-based startup’s partners include game publishers Abstraction, Creative Mobile and CCG Lab.
FloQast ($202 million raised)
FloQast founder Michael Whitmire says he got a “no” from more than 100 investors in the process of raising a seed round. Today, the accounting software company is considered a unicorn.
Nacelle ($70.8 million raised)
Nacelle produces docuseries, books, comedy albums and podcasts. The media company’s efforts include the Netflix travel series “Down To Earth with Zac Efron.”
Wave ($66 million raised)
A platform for virtual concerts, Wave has hosted performances by artists including Justin Bieber, Tinashe and The Weeknd. The company says it has raised $66 million to date from the likes of Warner Music and Tencent.
Papaya ($65.2 million raised)
Sherman Oaks-based Papaya looks to make it easier to pay “any” bill—from hospital bills to parking tickets—via its mobile app.
LeaseLock ($63.2 million raised)
Based in Marina del Rey, LeaseLock says it’s on a mission to eliminate security deposits for apartment renters.
Emotive ($58.1 million raised)
Emotive sells text message-focused marketing tools to ecommerce firms like underwear brand Parade and men's grooming company Beardbrand.
Dray Alliance ($55 million raised)
Based in Long Beach, Dray says its mission is to “modernize the logistics and trucking industry.” Its partners include Danish shipping company Maersk and toy maker Mattel.
Coco ($43 million raised)
Coco makes small pink robots on wheels (you may have seen them around town) that deliver food via a remote pilot. Its investors include Y Combinator and Silicon Valley Bank.
HiveWatch ($25 million raised)
HiveWatch develops physical security software. Its investors include former Twitter executive Dick Costollo and NBA star Steph Curry’s Penny Jar Capital.
Popshop ($24.5 million raised)
Whatnot competitor Popshop is betting that live-shopping is the future of ecommerce. The West Hollywood-based firm focuses on collectables such as trading cards and anime merchandise.
First Resonance ($19.4 million raised)
Founded by former SpaceX engineer Karan Talati, First Resonance runs a software platform for makers of electric cars and aerospace technology. Its clients include Santa Cruz-based air taxi company Joby Aviation and Alameda-based rocket company Astra.
Open Raven ($19 million raised)
Founded by Crowdstrike and Microsoft alums, Open Raven aims to protect user data. The cybersecurity firm’s investors include Kleiner Perkins and Upfront Ventures.
Fourthwall ($17 million raised)
When an actor faces the camera and speaks directly to the audience, it’s known as “breaking the fourth wall.” Named after the trope, Venice-based Fourthwall offers a website builder that’s designed for content creators.
The Non Fungible Token Company ($15 million raised)
The Non Fungible Token Company creates NFTs for musicians under the name Unblocked. Its investors include Jay Z’s Marcy Venture Partners and Shawn Mendez.
Safe Health Systems ($15 million raised)
Backed by Mayo Clinic Ventures, Safe Health develops telehealth software and offers tools for enterprises to launch their own health care apps.
Intro ($11.6 million raised)
Intro’s app lets you book video calls with experts—from celebrity stylists, to astrologists, to investors.
DASH Systems ($8.5 million raised)
With the tagline “Land the package, not the plane,” DASH Systems is a Hawthorne-based shipping company that builds hardware and software for automated airdrops.
Ettitude ($3.5 million raised)
With a focus on sustainability, Ettitude is a direct-to-consumer brand that sells bedding, bathroom textiles and sleepwear.
Afterparty ($3 million raised)
Along similar lines as Unblocked, Afterparty creates NFTs for artists and content creators such as Clay Perry and Tropix.
Heart to Heart ($0.75 million raised)
Heart to Heart is an audio-focused dating app that “lets you listen to the story behind the pictures in a profile.” Precursor Ventures led the pre-seed funding round.
Frigg (undisclosed)
Frigg makes hair and beauty products that contain cannabinoids such as CBD. The Valley Village-based company raised an undisclosed seed round in August.
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