From 'the Passenger Seat to the Driver's Seat': Upfront Ventures' Nortman Is Now Co-Managing Partner

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.

From 'the Passenger Seat to the Driver's Seat': Upfront Ventures' Nortman Is Now Co-Managing Partner

Kara Nortman is already widely regarded as one of the top VCs in Los Angeles. Now, she is getting a promotion to make it official.

Upfront Ventures, the Santa Monica firm with more than $2 billion in assets under management that Nortman joined as partner in 2014, announced Monday she will become Co-Managing Partner.

Nortman will share the new title with Yves Sisteron, who founded the firm in 1996, and Mark Suster, who came aboard in 2007. But Nortman is quick to point out she's not replacing anyone.


"Yves is not going anywhere and Mark is not going anywhere, but he is 10 years older than me, so I have to be pretty good at this hopefully by the time I'm in my 50s," said Nortman, 44. "It really is an apprenticeship."

Nortman says she is taking a more active role in raising capital for Upfront's next $270 million fund (the firm raises a new vehicle every three years.) Citing SEC regulations, she declined to go into specifics but said fundraising is "going great."

As a native Angeleno, Nortman is a tireless cheerleader of the city's growing tech scene. In 2022, she will also be cheering on Angel City Football Club, L.A.'s new women's professional soccer team she co-founded with top celebrities like Natalie Portman and Serena Williams.

Nortman's promotion also makes her one of the few women who have ascended to the highest ranks of venture capital.

She is a founding member of All Raise, a nonprofit advocating for female founders and funders and a board member of TIME'S UP, created by women in Hollywood to fight harassment and discrimination. In an interview Friday, Nortman talked about her new role, how she gets along with Suster and what investments she's most proud of. She also talked about the fate of the lavish Upfront Summit, which normally brings hundreds of investors and founders to L.A. every January for several days of glitzy parties and panels.

What will this new role entail and how will you split duties with the other managing partners?

It will feel like a big shift maybe to the outside, but it's been a very gradual evolution. In a lot of ways I've already been stepping into this role over the last year or so and doing more on the leadership front, like strategy, hiring and building relationships with the LPs, which is an interesting part of the business. I've always met LPs, but it's almost like moving from the trunk to the back seat to the passenger seat to the driver's seat.

From the outside, you and Mark Suster seem to have such different personalities. Can you give us a window into how you work together?

The funny thing is Mark and I have a lot of similarities. How would I describe our working relationship? It's the best I've had in my career. That doesn't mean it's not without friction at times. It doesn't mean in the early years we didn't bump heads when I thought I knew the business really well because I had done it at Battery Ventures for five years a decade earlier and it had changed a little bit. I had to evolve and understand how to operate in a different market at a different time and all those different things. He's been hard on me but in ways that have really helped me learn and evolve. And now we have very productive differences of opinions and he's still probably right 90% of the time. But in a lot of cases, there is no right.

When you say he's been hard on you, what's an example of something that he has changed about you or tried to change?

He cares deeply about giving me real feedback and that's not always been easy to hear. I think about a performance review I had two or three years ago where I think he typed me up a 10-page essay on my strengths and weaknesses with specific examples and it really kind of changed the way I invested.

I almost have this innate, positive energy that I used to call anxiety around making sure I meet the best people that we can invest in. I was so interested in getting in front of everything that I'd say one of the best things Mark did for me was slow me down. It really kind of goes to a place of developing your own point of view. And I think it's an important thing for women in this industry in particular. We want more people of color to be in leadership roles in this industry. But if we're all using the same inputs as everybody else and making decisions in the same way you just chase a little bit better. You're not actually going to leverage the important part of diversity, which is getting different kinds of thinkers with different kinds of networks.

Now that you are one of the few female VCs in a position of top leadership, what do you see as the key to further breaking up the boys' club and diversifying VC firms?

Once you're a woman or a person of color in a VC firm, it is making sure other talented people like you get hired, but also hiring people who are not totally like you. You have to make room for different kinds of people. And how do you empower those people? How do you support their process of making investments so they can win things when they don't have a huge portfolio? How do you bring the weight of the firm behind their process? It's really hard in the beginning. And so those first two years and having an awareness around mentorship and allowing that person to make mistakes and giving them the room to go slowly and get things wrong and really speak and have presence and feel like in their comfort zone is really important.

Over your decade-plus of doing this in L.A., what investment are you most proud of?

That's like asking to pick your favorite child! (laughs).

Is that an unfair question?

Totally! I'll just mention a few different things. When I got to L.A., the first startup I was involved with was Tinder. I recruited Sean Rad into IAC [the holding company that owns brands across 100 countries] to build something totally different, and during a hackathon, he built Tinder. It's turned out to be one of the biggest brands of its time.

Then I would go to a company like Fleetsmith, which was bought by Apple earlier this year in the middle of COVID when no one was buying anything. [The startup automates Apple device management.] I got to know those guys when they were just starting. I did their $7 million Series A and they were talking about things at the time that everybody thought was a little bit nuts. While they were in the Bay Area all three founders were from L.A. and this is a Mac town. I think I got the Mac thesis pretty quickly at a time when it was not as obvious and everyone was like, "if Apple's not doing it, there must be a reason."

A final one I'll mention is Parachute Home, which was my very first investment when I got to Upfront. [It makes modern bedding, bath, linens and other home decor essentials.] I think it reflects all the great parts of L.A. But it is built on technology. The headless eCom platform they built with data science around driving repeat rates and increasing load times is done so incredibly well.

What can you tell us about next year's Upfront Summit?

We are definitely doing something and it's going to be in a different form. Obviously, in a COVID world it's not going to be what it was in in 2020.

How much time are you spending on Angel City?

It's an important part of my life and my community but we have a full time CEO who is exceptional, Julie Irman.

What has surprised me is how much overlap there is between my day job and Angel City. One of those things about L.A. is we can sit at the intersection of tech, business, brand, celebrity and really think about community. I may take things away from my DevOps cloud cyber security companies by how we're building community at Angel City because they're doing very similar things where they're testing open source strategies. It sounds a little bit of a stretch, but I really like to think about systems and how different parts of my life influence my job.

***This interview has been edited for brevity and clarity.

**Upfront Ventures is an investor in dot.LA.

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$160M Tugboats and Undersea Drones: LA Startups Are Raising the Stakes

🔦 Spotlight

Happy Friday LA,

This week’s headlines take us from the ocean floor to the docks of Long Beach, with LA companies leading the charge.

Image Source: Anduril

Let’s start with Anduril Industries, which rolled out three major announcements that underline just how quickly it is expanding its footprint across defense tech. The biggest milestone came from Ghost Shark, an extra large undersea drone developed in partnership with the Australian Navy. After just three years, it has moved from prototype to an official program of record, an unusually fast turnaround in an industry where procurement often takes decades. It marks a significant step for autonomous systems under the sea, an area where defense agencies have long struggled to innovate.

Image Source: Anduril

The company also revealed Menace I, a ruggedized system designed to bring petabyte scale processing power directly to the battlefield. Think of it as cloud computing without the cloud, giving troops the ability to process massive amounts of sensor data and video on site rather than relying on faraway servers. And finally, Anduril landed a contract to create mixed reality training tools, using immersive simulations to prepare service members for missions more effectively. Training has always been one of the costliest and most logistically challenging aspects of defense, and bringing advanced MR into the mix could transform how quickly and safely soldiers can get mission ready. Together, these updates show an LA company moving fast across land, sea and even into the training ground.

Image Source: Arc

Meanwhile, Arc is proving that electrification is not just for cars and yachts, it is now heading into some of the hardest working vessels on the water. The Venice based startup announced a $160 million deal with Long Beach’s Curtin Maritime to deliver eight hybrid electric tugboats. Tugboats are the muscle of the harbor, guiding massive cargo ships in and out of ports, and they usually burn through enormous amounts of diesel. Arc’s push into this space signals more than just a big contract. It is a pivot from building high performance electric speedboats for early adopters to tackling one of the most carbon heavy corners of maritime work.

The scale of this deal shows how far Arc has come since launching just a few years ago. Building hybrid electric tugboats is not a side project, it is a sign that the company wants to play a role in reshaping the future of port operations. And if LA’s own clean tech boat builder can make a dent in one of the dirtiest industries on the water, the ripple effects could stretch far beyond the coastline.

🤝 Venture Deals

      LA Companies

      • Apex Space closed a $200M Series D round led by Interlagos, with participation from existing investors including Andreessen Horowitz, Point72 Ventures and 8VC, pushing its valuation past $1 billion. The Los Angeles based company builds satellite buses, the standardized spacecraft platforms that carry and power payloads ranging from Earth imaging sensors to missile early warning systems. With the new funding, Apex plans to increase production capacity by 50 percent and more than double its manufacturing facility as demand for space defense systems continues to grow. - learn more
      • Sapphire Technologies has raised an $18M Series C round, including investment from Mitsubishi Heavy Industries along with existing backers such as Equinor Ventures, Cooper and Company and Energy Capital Ventures. The funds will be used to scale up production at Sapphire’s manufacturing facility in Cypress, California, expand global deployments of its FreeSpin In-line Turboexpanders in regions like Japan and enter new markets. Sapphire’s technology converts otherwise wasted pressure energy, often from natural gas, into clean and emissions free electricity, playing a growing role in the global energy transition. - learn more
      • LocalExpress has raised $6.2M in a venture round led by OXZ Capital to expand its AI data capabilities into the grocery industry. The Glendale based platform, already serving independent grocery and food retailers across the US, Canada and Latin America, is transitioning from supporting internal operations to becoming a premier data syndication hub in the sector. This round will fuel further development of its unified commerce solutions and help scale its AI-powered systems for harmonizing transaction and inventory data. - learn more
      • ProRata.AI closed a $40M Series B financing round led by Touring Capital with participation from Bold Capital Partners and others, to launch Gist Answers, a new AI-as-a-service tool for publishers. Gist Answers lets publishers embed custom AI search, summarization, and recommendation features directly on their sites while maintaining control over their content. The move is designed to help publishers increase engagement, protect their content, and unlock new revenue streams in the AI era. - learn more

      LA Venture Funds

      • Upfront Ventures joined a group of investors in backing Sophont’s $9.22M seed round, led by Kindred Ventures. Sophont is building multimodal medical foundation models that combine data from pathology slides, brain scans, clinical notes, and lab results to enable functionalities like symptom triage, biomarker discovery, and clinical trial cohort selection. The funding will go toward increasing compute capacity, expanding data partnerships, and recruiting researchers to accelerate the development and release of model backbones and open science infrastructure. - learn more
      • Presight Capital participated in the $24M Series A round raised by TERN Group, which was led by Notion Capital. The funding will help TERN scale its AI powered infrastructure for global healthcare worker recruitment, credentialing and mobility, especially helping caregivers and nurses in places like India gain access to international job opportunities. TERN plans to use the investment to expand into new geographies, deepen training programs, and further build tools that make migration, compliance and placement faster, fairer and more transparent. - learn more
      • Emmeline Ventures joined a strong syndicate in Lōvu Health’s $8M Series A round, led by SJF Ventures. The funding will support Lōvu in scaling its AI-powered maternal health platform, enhancing remote monitoring, curated specialist services, and ongoing care from pre-conception through the first two years postpartum. With this investment, Lōvu aims to close gaps in maternal healthcare access and outcomes, especially for underserved populations. - learn more
      • Integrity Growth Partners led a $28M Series A round in Pest Share, joined by existing investors including MetaProp, Capital Eleven and RE Angels. Pest Share is an on-demand pest control platform tailored for residential property managers, operating in all 48 states and serving 300,000 residential units. The capital will fuel expansion in single-family and multifamily rental markets, enhance product innovation, and deepen integrations with property management systems. - learn more
      • Mantis VC joined Forerunner Ventures, Neo, Abstract and several angel investors in backing Hero Assistant’s $3.5M seed round at a $30M valuation. Hero Assistant is building a “Daily Assistant” super-app that consolidates things like calendars, weather, tasks, habits, goals, grocery ordering, notes and news, already replacing up to eight separate apps for its more than 300,000 users. The funds will help the company enhance features, scale growth, and deepen its reach in productivity. - learn more
      • Wedbush Healthcare Partners took part in Odyssey Therapeutics’ oversubscribed $213M Series D financing round alongside both new and existing investors. The funding will be used to push forward Odyssey’s pipeline of clinical and preclinical therapies focused on treating complex autoimmune diseases. With this capital raise, Odyssey aims to make progress toward key clinical milestones and bring precision immunomodulation treatments closer to patients in need. - learn more
      • BroadLight Capital participated in Higgsfield’s $50M Series A round, which was led by GFT Ventures and also backed by firms like Menlo Ventures and NextEquity Partners. Higgsfield is pushing its “click-to-video” AI platform, which lets users turn curated presets into cinematic clips with a single click rather than wrestling with complex prompts. In only five months since launch, the company has already drawn over 11 million users and more than 1.2 billion social media impressions, signaling strong momentum in the creator video space. - learn more
      • Impatient VC participated in Sphinx’s $9.5M Seed round, which was led by Lightspeed and also included investors like Bessemer Venture Partners, Box Group, and K5. Sphinx is launching an AI copilot built especially for data scientists, one that thinks in statistics and patterns to turn raw data into actionable insights without skipping rigor. The funds will go toward refining tools that integrate into workflows like Jupyter notebooks and VSCode so data teams can explore, model, and make decisions faster. - learn more
      • WME Group led a $20M Series B round in Palm Tree Crew, valuing the company at $215 million. The funding will power expansion across its hospitality venues, live events, and lifestyle ventures while leaning into WME’s entertainment, licensing, and brand network. Palm Tree Crew plans to scale its properties, deepen its festival footprint globally, and continue growing its portfolio of consumer brands as part of the next chapter. - learn more
      • Blue Bear Capital participated in Nuclearn’s $10.5M Series A round that helps the company deepen its AI-capabilities for nuclear operations. Nuclearn, founded by engineers who've worked inside power plants, builds specialized tools like CAP AI to automate safety-critical, documentation-heavy tasks and ensure regulatory compliance. The funding will support product expansion, talent hiring, and scaling its platform to more reactors worldwide. - learn more
      • Amplify was one of the investors joining Endurance28 and others in Cascade Bio’s $6M raise, which includes $2.8M in equity and $3.2M in nondilutive funding. Cascade Bio is advancing its enzyme-immobilization technology to help industrial partners transition from petrochemical processes to greener, biomanufacturing workflows. The funding will enable Cascade to scale its high-stability biocatalysts for use across chemicals, food ingredients, fragrances, and pharmaceuticals. - learn more

      LA Exits

      • Northstar has been acquired by Nayya, combining Northstar’s financial wellness tools with Nayya’s health, compensation and actuarial data platform. The unified offering introduces a “SuperAgent,” an AI adviser that not only helps employees understand benefits but, with their permission, can take actions like auto enrolling in wellness programs or appealing denied claims. The goal is to make health and wealth benefits simpler, more transparent and more useful year round rather than just during open enrollment. - learn more
      • Integrated Rental Systems has been acquired by VitalEdge Technologies, a major provider of dealer management software for heavy equipment. Integrated Rental’s platform is considered one of the most advanced in its field, and this deal allows VitalEdge to offer more fully integrated solutions covering rental, parts, and service revenue streams for equipment dealers. Alise Moncure, CEO of Integrated Rental, will join VitalEdge’s leadership team as President of Expansion Markets, leading rental and other high-growth segments. - learn more
      • VideoVerse has been acquired by Minute Media, bringing its AI-powered sports video platform Magnifi into the company’s portfolio. Magnifi helps leagues, teams and publishers automatically detect key moments, create instant highlights and distribute short-form video content more efficiently. With the acquisition, Minute Media is expanding beyond publishing to offer a more complete solution for video creation, distribution and monetization. - learn more
      • Bespoke Treatment has been acquired by Stella Mental Health, expanding the company’s services in Los Angeles. Known for its integrative approach, Bespoke offers treatments such as stellate ganglion block for trauma, IV ketamine, Spravato® and intensive outpatient programming. Through the acquisition, Stella is broadening its footprint and strengthening its ability to deliver personalized behavioral health care. - learn more

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      Snap’s AI, Paramount’s RTO, and NeueHouse’s Exit: LA’s Wild Week

      🔦 Spotlight

      Good Morning LA,

      If you blinked this week, you might’ve missed Snap unveiling new AI-powered Lenses, NeueHouse announcing its closure, and Paramount rolling out a five-day return to office mandate. Let’s get into it.

      First up: Snap. The company introduced its new “Imagine” Lenses powered by generative AI. Instead of the playful filters we all know, these tools feel closer to an on-demand art studio, letting people turn imagination into visuals instantly. It shows Snap leaning into what it does best: pushing the boundaries of how we express ourselves through the camera.

      Meanwhile, NeueHouse announced it will be closing. Known for blending hospitality, community and high-design workspaces, it attracted a mix of entertainment, design and tech professionals who wanted something beyond the typical co-working setup. Its exit comes as Paramount is moving in the opposite direction, requiring employees to return to the office full time starting in January. Together, these moves highlight the different paths workplaces are taking in a post-hybrid world, from phasing out to doubling down.

      On the global stage, the world’s eyes are on Berlin, where IFA 2025 is underway. The trade show is buzzing with foldable devices, wearables and AI-powered appliances that are blurring the line between tool and companion. The innovations debuting there are setting the tone for what consumers and startups everywhere will soon be building with, competing against and dreaming beyond. For those following along, The Verge is running live coverage with updates on the biggest reveals.

      And finally, OpenAI announced a new jobs platform, aimed at connecting workers with opportunities in an AI-driven economy. It is positioned as a way to broaden access and help talent navigate shifting industries. For engineers, creatives and founders alike, it is another signal that collaborating with AI is not a future skill, it is a present-day requirement.

      🤝 Venture Deals

          LA Venture Funds

          • FirstLook Partners participated in Hello Patient’s $22.5M Series A round, which backs the Austin based conversational AI platform transforming patient intake and communications. Hello Patient’s technology, handling voice, text, and chat conversations, helps healthcare providers streamline appointments, reduce missed calls, and improve patient access. The fresh funding will accelerate enhancements to its AI driven platform and support expansion to healthcare organizations nationwide. - learn more
          • Hyperlink Ventures joined Mojo Vision’s $75M Series B Prime funding round to support the expansion of its high performance micro LED platform. Mojo Vision plans to leverage the investment to accelerate commercialization of its wafers in, wafers out micro LED technology, which merges advanced silicon architecture, GaN on silicon emitters, quantum dots, and micro lens arrays to power next generation AI devices and infrastructure. - learn more
          • Fika Ventures joined Dispatch’s $18M Series A round, helping to bring its total funding to $30M. Dispatch provides AI powered, automated data orchestration for wealth management firms, eliminating repetitive tasks, streamlining client onboarding, and ensuring real time, connected client data. The new capital will fuel the expansion of its agentic workflows and further development of its AI ready infrastructure for advisors. - learn more
          • TenOneTen Ventures participated in Elysian’s $6M seed round to support the company’s AI native third party administration platform for commercial insurance claims. Elysian’s technology automates the complex, document heavy middle of claim handling by surfacing coverage insights and drafting communications so adjusters can focus on making strategic decisions. The funding will help accelerate go to market efforts, enhance customer onboarding, and scale both delivery operations and the underlying AI platform. - learn more
          • M13 participated in Allocate’s $30.5M Series B round, backing the company’s platform that helps wealth advisors and family offices access and manage private market investments. The new funding will support expansion of its AI-powered infrastructure and workflow automation, as well as broaden its reach beyond venture capital into private equity and credit. - learn more
          • Walkabout Ventures took the lead in Advisor.com’s $9M seed round. Advisor.com operates an AI-powered platform that pairs investors, especially those with under $500,000 in investable assets, with vetted fiduciary financial advisors. The funds will be used to accelerate customer acquisition, enhance its advisor matching technology, and expand its network of top-tier advisors. - learn more
          • Ares Management participated in ID.me’s latest funding, where the company raised a total of $340M in a Series E round combined with a credit facility, pushing its valuation above $2 billion. ID.me, a digital identity wallet trusted by more than 152 million users, will use the capital to scale access to secure, reusable digital identities and bolster its defenses against increasingly AI-driven fraud. - learn more
          • Core Innovation Capital participated in Flex’s $15M Series A funding round. Flex is a payments infrastructure platform that enables health and wellness retailers to accept Health Savings Account (HSA) and Flexible Spending Account (FSA) funds at checkout. With this investment, Flex plans to scale its enterprise reach, enhance its core technology, and grow its team to help merchants tap into more than $150 billion in underutilized pre‑tax health spending. - learn more
          • F4 Fund joined Camera Intelligence’s $2M seed funding round. The company is developing an AI-powered camera system that embeds a large language model (LLM) directly into a Micro Four Thirds mirrorless camera, simplifying content creation through voice-activated controls and in-camera editing. The new capital will accelerate the build-out of this integrated AI-native camera and content editing solution, with an LLM feature set to launch on iOS in fall 2025. - learn more

          LA Exits

          • Air Lease Corporation has entered into a merger agreement to be acquired by a consortium including Sumitomo Corporation, SMBC Aviation Capital, Apollo-managed funds, and Brookfield in an all cash deal expected to close in the first half of 2026. Shareholders will receive $65 per share, valuing the company at about $7.4 billion or $28.2 billion including debt, and the company will be rebranded as Sumisho Air Lease with SMBC set to manage its fleet and order book. - learn more

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          LA Startup Powering Immigrant Workforce Secures $7.5M

          🔦 Spotlight

          Happy Friday, Los Angeles,

          It’s Labor Day weekend, which means most of us are thinking about a little time off. But one LA startup is laser focused on work, specifically on the millions of immigrant workers who keep the U.S. economy running.

          This week, Welcome Tech raised $7.5 million to expand its AI powered platform that connects immigrant communities with U.S. employers. If you’re not familiar, Welcome Tech has quietly become one of the most important bridges between immigrant workers and the American labor market. The company offers a suite of services, from job matching and financial tools to healthcare and education, built specifically for immigrant families navigating systems that weren’t designed with them in mind.

          The scale is staggering. Welcome Tech already supports more than 4.5 million registered members, and its enterprise partnerships have tripled in the last year. Revenue is up more than 200 percent year over year. With this new funding, the company plans to double down on AI, personalizing onboarding, automating job matching, and expanding multilingual support so workers can find opportunities faster and employers can access a motivated workforce with fewer barriers.

          Welcome Tech’s growth also underscores something very LA: this city runs on immigrant talent, and the systems that support them often lag behind. By building infrastructure tailored to this workforce, Welcome Tech isn’t just scaling a business, it’s tackling a gap that traditional employers and institutions have ignored for decades.

          As Labor Day weekend rolls in, it’s a reminder that the real labor story isn’t just about time off, it’s about how companies like Welcome Tech are reshaping access to opportunity in one of the country’s most essential workforces.

          And with that, let’s get into this week’s venture deals across LA.

          🤝 Venture Deals

          LA Companies

          • Payment Labs, a Los Angeles based fintech specializing in seamless payment workflows for industries like sports, esports, and the creator economy, has closed an oversubscribed $3.25M seed funding round led by Aperture Venture Capital. The company’s API powered SaaS platform, already trusted by Microsoft, SEGA, X Games, and more, simplifies complex global pay ins and payouts across 150+ currencies and 180+ countries while integrating tax compliance, royalty distributions, and reporting. This new capital will accelerate expansion of tailored payment solutions and bolster operations to support high growth verticals. - learn more

            LA Venture Funds

            • Clocktower Technology Ventures, participated in Momento Seguros’ $10.25M Series A round. The Mexico City based digital auto insurer is leveraging the capital to expand its full-stack platform, offering flexible, mobile-first coverage tailored to underserved drivers. By modernizing payments, underwriting, and claims processing, Momento aims to disrupt a traditionally rigid insurance market with transparent, user-centric solutions. - learn more
            • Dangerous Ventures participated in Copper’s $28M funding round aimed at scaling the world’s first battery equipped induction range. The Berkeley based company builds plug and play induction stoves with built in batteries that run on standard 120 volt outlets, simplifying electrification of cooking while offering backup power during outages. Copper plans to use the new funds to expand production, develop new appliances, and leverage its grid friendly design, already under contract to deliver 10,000 units to public housing, to drive broader adoption of clean, efficient cooking solutions. - learn more
            • Alexandria Venture Investments participated in Leal Therapeutics’ $30M Series A round, joining a syndicate that includes SV Health Investors’ Dementia Discovery Fund, OrbiMed, Newpath Partners, Chugai Venture Fund, Euclidean Capital, and PhiFund. Leal is advancing its neuro metabolic pipeline with lead programs LTX 001 moving into clinical trials for schizophrenia and LTX 002 progressing toward initial clinical data in ALS. This funding will also support the advancement of additional pipeline candidates and technologies aimed at delivering transformative treatments for CNS disorders. - learn more
            • Impatient Ventures and Riot Ventures participated in Blue Water Autonomy’s $50M Series A funding round to accelerate development of autonomous, long range ships designed for the U.S. Navy. The capital will be used to build and deploy the firm's first full sized autonomous ship by next year and support rapid scaling, as the team has already quadrupled since its seed round while completing engineering tests and securing materials from over 50 suppliers. This funding brings the company’s total raised to $64 million and underscores growing momentum around U.S. maritime innovation. - learn more
            • TenOneTen Ventures joined a $3.5M seed round in Loman AI, supporting the Austin based startup’s efforts to transform restaurant operations using voice AI. Loman’s AI phone agent handles call volume by taking orders, booking reservations, answering FAQs, and integrating smoothly with POS systems, helping restaurants boost revenue by up to 22% while cutting labor costs by as much as 17%. This new funding will accelerate product development and team expansion as demand for Loman’s platform grows nationwide. - learn more
            • CIV participated in AiGent’s $6M seed round, backing the AI driven startup’s mission to transform idle backup generators into a powerful decentralized grid resource. AiGent’s platform aggregates and orchestrates distributed generation assets including those at commercial, industrial, and mission critical facilities like AI data centers, turning them into rapidly dispatchable “distributed power plants.” This innovative approach not only enhances grid reliability and reduces costs but also opens up new revenue streams for asset owners without the time, cost, or disruption of building additional infrastructure. - learn more
            • Blue Bear Capital led a $12.4M SAFE funding round in Splight, supporting the San Francisco-based grid technology company’s mission to dramatically expand transmission capacity using machine-learning. The new capital will fuel deployment of Splight’s flagship Dynamic Congestion Management™ across U.S. and European grids—helping alleviate long interconnection delays and renewables curtailment by intelligently leveraging existing infrastructure. This round also secures Splight’s ability to scale both its commercial and technical teams amid surging demand from AI data centers and utilities. - learn more
            • Amboy Street Ventures participated in Nest Health’s $12.5M Series A round to support the expansion of its whole family, in home care model for Medicaid populations. Nest Health leverages AI powered clinical services, from medical to behavioral and social support, to deliver care at home while cutting churn and improving outcomes, including reduced ER visits and higher vaccination rates. The company will use the funding to scale its AI enabled care offerings into new regions and enhance partnerships with payors. - learn more
            • VamosVentures participated in Kira’s $6.7M seed funding round, supporting the AI driven fintech infrastructure platform as it emerges from stealth. The capital will enable Kira to expand across Latin America, especially South America, scale its technical team, and accelerate development of new embedded financial products powered by stablecoins, AI agents, and enterprise grade APIs. Kira aims to streamline financial services in markets with large underbanked populations and has already generated $3 million in revenue in its first year. - learn more

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