legalzoom

legalzoom

The COVID-19 pandemic forced restaurants, shops, movie theaters and countless other businesses to close. But alongside those closures, a surprising trend emerged: More new businesses formed in 2020 than the year before.

The uptick helped fuel growth for the legal tech company LegalZoom, which helps entrepreneurs start their businesses and provides other legal and tax services.

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BAM Ventures, the early-stage, consumer-focused fund co-founded by corporate lawyer-turned-L.A. serial entrepreneur-turned-venture capitalist Brian Lee, has filed paperwork with the SEC indicating that it is in the process of raising a third fund with $50 million in dry power.

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As one of the founding fathers of the L.A. tech scene, Brian Lee is used to having entrepreneurs pitch him on ideas. What does he look for? It's not so much a business plan or even an idea. He says he goes off a vibe.

That's how he ended up being the first investor in the deal-finding browser add-on Honey, which was bought late last year by PayPal for $4 billion in what ranks as the biggest acquisition L.A. has seen to date.

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