MaC Venture Capital Eyes $200 Million For Its Second Fund

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.

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MaC Venture Capital, the Black-led seed-stage venture firm based in Los Angeles, intends to raise as much as $200 million for its second fund, according to an SEC filing published Monday.

The filing implies that Hollywood-based MaC has not yet closed on any capital for the new fund. The investment vehicle follows the firm’s $110 million inaugural fund, which it sealed last March.



From left to right: MaC Venture partners Marlon Nichols, Michael Palank, Charles D. King and Adrian Fenty. Courtesy of MaC Venture Capital

MaC formed in 2019 through a merger between two smaller VC firms, Cross Culture Ventures and M Ventures. The former was founded by investor Marlon Nichols, who previously helped launch corporate VC Intel Capital’s $125 million diversity fund, while the latter was co-created by former Washington D.C. Mayor Adrian Fenty and former William Morris Endeavor partner Charles D. King, who was the first African-American partner at a major Hollywood talent agency.

Their resources combined, MaC has quickly established itself as one of the more notable Black-owned venture capital firms in an industry dominated by white men. The firm has looked to promote racial diversity, equity and inclusion in the startup sectors, and has described its mission as backing founders who want to “solve problems for the 99%” and whose companies “expand access to opportunity” for minority communities.

MaC’s local investments include NFT-focused gaming startup Artie and spacecraft operations software firm Epsilon3. The firm has noted that it’s particularly bullish on gaming- and metaverse-focused ventures.

When reached by dot.LA, Nichols declined to comment on MaC’s plans for the new fund.

🎓 LA’s Startup Edge Round 2

In light of last week’s article, we want to highlight some additional schools that have a significant impact on LA’s tech landscape. If we’ve missed any schools or founders worth including let us know!


Image Source: LMU

Loyola Marymount University

LMU plays a significant role in developing Los Angeles' tech workforce by offering various programs and resources for aspiring entrepreneurs and innovators. The university fosters innovation and entrepreneurship through:

  • LMU College of Business Administration: Provides entrepreneurship-focused programs and courses, including the Entrepreneurship Program, which offers hands-on experience and mentorship opportunities for students interested in starting their own businesses.
  • Frank R. Seaver College of Science and Engineering: Collaborates with industry partners on research projects and offers programs like the Engineering Clinic, where students work on real-world problems for corporate sponsors.
  • Fred Kiesner Center for Entrepreneurship: Serves as a hub for entrepreneurial activities, offering resources such as the Business Incubator program, pitch competitions, and networking events to support student and faculty startups.

Companies Founded by LMU Alumni: Liquid I.V. by Brandin Cohen, Dave by Jason Wilk, Abstract by Pat Utz


Image Source: CSULB

California State University, Long Beach (CSULB)

CSULB plays a significant role in developing Long Beach's entrepreneurial ecosystem through various programs and resources. The Institute for Innovation & Entrepreneurship (IIE) at CSULB serves as a central hub, offering initiatives like monthly Innovation Hours, a social justice entrepreneurship program, and the annual Sunstone Innovation Challenge with $50,000 in prizes. CSULB fosters innovation and entrepreneurship through:

Companies Founded by CSULB Alumni: Oculus VR and Anduril by Palmer Luckey (technically not an alumni because he dropped out before graduating), Dreamworks Animation by Steven Spielberg


Image Source: Claremont McKenna College

The Claremont Colleges

The Claremont Colleges serve as a significant source of talent for Los Angeles' tech and venture capital workforce, leveraging their strong academic programs and entrepreneurial resources. Harvey Mudd College, renowned for its exceptional engineering program, contributes a substantial number of highly skilled graduates to the tech sector. The consortium's collaborative approach to fostering innovation is exemplified by initiatives like:

  • The HIVE: This hub enhances students' creative problem-solving skills through collaborative and interdisciplinary experiences.
  • Claremont McKenna College's Silicon Valley Program: Offers students an immersive off-campus study experience that integrates internships, coursework, and networking opportunities in the heart of the tech industry, preparing them for careers in innovation and venture capital..
  • The Makerspace at Harvey Mudd College: An 8,000 SF student-run facility that allows students to prototype and develop innovative ideas, fostering a hands-on approach.

Companies Founded by Claremont Alumni: TechCrunch by Michael Arrington (CMC), KKR by Henry Kravis (CMC) & George Roberts (CMC), Sun Basket by Adam Zbar (Pomona), GitHub by Tom Preston-Werner (technically not an alumni because he dropped out before graduating from Harvey Mudd)


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🌱Redefining Female Pleasure—and LA's New Wellness Club: What to Know

🔦 Spotlight

Happy Friday Los Angeles!

Love.Life is a high-end, holistic health and wellness club recently opened in Los Angeles, founded by former Whole Foods Market executives John Mackey, Walter Robb, and Betsy Foster. The 45,000-square-foot facility combines advanced medical diagnostics, personalized fitness and nutrition plans, and rejuvenating therapies under one roof. Membership options range from $300 to $50,000 annually, offering services such as detailed health assessments, specialized treatments, and access to various wellness modalities including cryotherapy, red light therapy, and advanced fitness equipment. With autoimmune diseases on the rise, the club aims to provide a comprehensive health experience that blends Eastern and Western practices, with additional perks like an on-site café and pickleball courts. Love.Life's approach emphasizes preventive care and personalized health management, catering to individuals who are willing/able to invest significantly in their well-being.

In parallel to this trend towards high-end, integrated wellness solutions, Hello Cake, an LA-based sexual health startup, is making strides in addressing women's sexual dysfunction—a field where treatment options have been notably scarce. While erectile dysfunction has seen significant innovation for men, women’s sexual health remains inadequately addressed, despite the Cleveland Clinic's estimate that 43% of women experience sexual dysfunction compared to 31% of men (hello underserved market). Hello Cake is introducing two new prescription products: Libido Lift Rx, a dissolvable tablet featuring oxytocin, tadalafil, and L-citrulline, and O-Cream, a topical treatment containing sildenafil. Priced at $54 for six doses, these products aim to help women love life by tackling low libido, filling a significant gap in the market where female libido is often overlooked. Despite the lack of FDA approval for these specific uses and limited trials, Hello Cake seeks to provide a novel approach to a common, yet medically nebulous issue, highlighting a crucial area of unmet medical need. Given its vibrant health and wellness culture, LA provides an ideal backdrop for innovative health companies like Love.Life and Hello Cake to address emerging needs in a city that's both health-conscious and open to new wellness trends.


🤝 Venture Deals

LA Companies

  • Sahara AI, a startup that operates a decentralized network that allows users to control, scale, and monetize their personal knowledge and copyrights using AI and blockchain technology, raised a $43M Funding Round co-led by Pantera Capital, Binance Labs, and Polychain Capital. - learn more
  • Ambercycle, a maker of recycled polyester, raised a $10M Funding Round from Shinkong Synthetic Fibers. - learn more
  • JetZero, a developer of blended-wing aircraft, raised funding from Alaska Airlines. - learn more

LA Venture Funds

    LA Exits

    • Datum Source, a developer of software that helps hardware companies find manufacturers, was acquired by Hadrian, a defense tech company. - learn more

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    🎓 LA’s Startup Edge

    Los Angeles is a key center for tech and entrepreneurship, driven by its major universities. Caltech produced a “founding father” of artificial intelligence and USC's Viterbi School collaborates with industry and has produced companies like Riot Games.


    Image Source: UCLA

    University of California, Los Angeles (UCLA)

    UCLA is a major source of tech talent in LA, granting approximately 2,000 engineering degrees from Bachelor’s of Science to Ph.D.s annually. The university fosters innovation through:

    • Startup UCLA: An on-campus accelerator program that provides mentorship, funding, and resources to student entrepreneurs.
    • Anderson School of Management: Offers entrepreneurship programs and hosts startup competitions.
    Companies Founded by UCLA Alumni: ChowNow by Eric Jaffe; Blizzard Entertainment by Mike Morhaime; BAM Ventures, LegalZoom.com & The Honest Company by Brain Lee


    Image Source: USC

    University of Southern California (USC)

    USC is another key player in developing LA's tech workforce offering numerous programs and resources for aspiring entrepreneurs, including the Viterbi Startup Garage, USC Stevens Center for Innovation, and the Lloyd Greif Center for Entrepreneurial Studies, which provides over 68 entrepreneurship courses taught by 27 professors and practitioners.The university fosters innovation through:

    Companies Founded by USC Alumni: Riot Games by Brandon Beck and Marc Merrill; Salesforce by Marc Benioff


    Image Source: CalTech

    California Institute of Technology (Caltech)

    Caltech is a significant contributor to the tech talent pool in Los Angeles, producing around 600 graduates annually across various STEM fields, with a large portion likely in engineering disciplines. Additionally, Caltech alumni have founded 238 startup companies between 1995 and 2016, with 35% still active as of 2016, demonstrating the institution's strong support for entrepreneurship and innovation in the region. The university fosters innovation through:

    • Caltech Entrepreneurs Club: This student-run organization aims to develop Caltech's startup ecosystem through educational speaker series, networking events, and collaboration with administration to establish a founder-friendly environment.
    • Caltech Innovation Center: Provides startups with space to test, develop, grow, and commercialize deep technology ideas collaboratively.

    Companies Founded by Caltech Alumni: Intel by Gordon Moore, Quora by Adam D’Angelo, and John McCarthy one of the “founding fathers” of Artificial Intelligence


    Image Source: Pepperdine University

    Pepperdine University

    Pepperdine University contributes to Los Angeles' tech talent pool through its strong entrepreneurship programs and MBA offerings that emphasize innovation and startup development. 33% of its MBA students are actively working on startups during their studies and 85% are aspiring to start businesses

    Companies Founded by Pepperdine Alumni: Eventbrite by Julia Hartz

    These universities are crucial in developing LA's tech talent pool, offering programs that bridge the gap between academia and industry. Their initiatives in entrepreneurship and partnerships with local startups are helping to create a robust tech ecosystem in Los Angeles.

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