LA Venture Podcast: Why Rivonia Road Capital Focuses on 'Venture Credit'

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.
LA Venture Podcast: Why Rivonia Road Capital Focuses on 'Venture Credit'

On this week's episode of LA Venture, hear from Dan Zinn, co-founder and managing partner at Rivonia Road Capital. The firm provides a much more bespoke solution than traditional venture debt. We also talk about how Zinn built a billion-dollar hedge fund and small business lender XPRS Capital.


Key Takeaways:

  • Zinn distinguishes that Rivonia Road invests in "venture credit" — a phrase that hasn't yet been coined — as opposed to venture debt. That is, they bridge the capital gap for venture-backed firms that have cash flows, royalty streams and/or other tangible objects.
  • Rivonia works with companies at all levels of development, but they're particularly interested in early-stage companies that originate their assets online.
  • Rivonia offers free advice because the firm is in the business of helping business and wants to support founders -- especially in understanding the capital market — which Zinn says most founders don't understand.
  • Zinn's investment decisions have always focused on where the capital is not going— for instance: China, alternative U.S. credit markets or small business -- and then exploring them.
  • Rivonia focuses on sub-hundred-million investments.
"This is all a journey and you better enjoy it and...do some interesting things along the way because...ultimately there's no destination that I know of that is necessarily satisfying." — Dan Zinn

Dan Zinn is cofounder and managing partner at Rivonia Road Capital. He was formerly a founder and chair at XPRS Capital and founding partner, portfolio manager at Orange Capital.

Want to hear more of L.A. Venture? Listen on Apple Podcasts, Stitcher, Spotify or wherever you get your podcasts.

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Genies Wants To Help Creators Build ‘Avatar Ecosystems’

Christian Hetrick

Christian Hetrick is dot.LA's Entertainment Tech Reporter. He was formerly a business reporter for the Philadelphia Inquirer and reported on New Jersey politics for the Observer and the Press of Atlantic City.

Genies Wants To Help Creators Build ‘Avatar Ecosystems’

When avatar startup Genies raised $150 million in April, the company released an unusual message to the public: “Farewell.”

The Marina del Rey-based unicorn, which makes cartoon-like avatars for celebrities and aims to “build an avatar for every single person on Earth,” didn’t go under. Rather, Genies announced it would stay quiet for a while to focus on building avatar-creation products.

Genies representatives told dot.LA that the firm is now seeking more creators to try its creation tools for 3D avatars, digital fashion items and virtual experiences. On Thursday, the startup launched a three-week program called DIY Collective, which will mentor and financially support up-and-coming creatives.

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Christian Hetrick

Christian Hetrick is dot.LA's Entertainment Tech Reporter. He was formerly a business reporter for the Philadelphia Inquirer and reported on New Jersey politics for the Observer and the Press of Atlantic City.

Here's What To Expect At LA Tech Week

LA Tech Week—a weeklong showcase of the region’s growing startup ecosystem—is coming this August.

The seven-day series of events, from Aug. 15 through Aug. 21, is a chance for the Los Angeles startup community to network, share insights and pitch themselves to investors. It comes a year after hundreds of people gathered for a similar event that allowed the L.A. tech community—often in the shadow of Silicon Valley—to flex its muscles.

From fireside chats with prominent founders to a panel on aerospace, here are some highlights from the roughly 30 events happening during LA Tech Week, including one hosted by dot.LA.

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Samson Amore

Samson Amore is a reporter for dot.LA. He holds a degree in journalism from Emerson College and previously covered technology and entertainment for TheWrap and reported on the SoCal startup scene for the Los Angeles Business Journal. Send tips or pitches to samsonamore@dot.la and find him on Twitter @Samsonamore.

Liquid Death May Just Be The 'Fastest Growing Non-Alcoholic Beverage Of All Time'
Liquid Death Files Paperwork to Raise $15 Million

When Santa Monica-based Liquid Death launched with funding from neighboring venture capital firm Science Inc. in 2018, the Los Angeles startup world – and everyone else – had nothing but jokes. But with the company’s latest $700 million valuation, it appears the joke is on the rest of us.

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