sinai ventures

sinai ventures

Funding for Southern California startups has stalled as some of the region's biggest investors spread money outside the region.

In 2010, roughly one in every 10 startup dollars deployed nationally funded tech companies in Southern California. A decade later, that share has remained stubbornly static, even as the total sum invested in local startups ballooned from $4 billion in 2010 to $14 billion in 2019. That's according to a new report commissioned by Alliance for SoCal Innovation, a nonprofit advocating for the local tech scene.

"The good news is the pie has gotten bigger, but our slice of it has stayed more or less the same," said Andy Wilson, the executive director of the Alliance.

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On this week's episode of the L.A. Venture podcast, hear from Zach White, partner at Sinai Ventures, about what it's like managing Sinai's $600 million Fund II. We talk about investing in Pinterest, buying secondary shares and independent thinking in the venture business.

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Valence, a tech platform and professional network launched last year that connects Black founders, announced its inaugural funding network Thursday. The list includes investors at top firms including Sequoia Capital, Accel and Upfront Ventures.

"For years, Black entrepreneurs have been told that Silicon Valley is a meritocracy, but at the same time most haven't had access to the top networks, the warm introductions, and the mentorship that underpin lasting success in tech. Valence is upending this completely by bringing the top VCs to compete for the best Black entrepreneurs." said Valence co-founder and general partner at Upfront Ventures, Kobie Fuller. "We want to even the playing field with the goal of exponentially growing the number of Black-owned startups that get funded."

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