<p>"I don't see any slowing down in the Los Angeles ecosystem," Kelly Perdew, co-founder and managing general partner of Moonshots Capital told dot.LA. "I see it growing and growing."</p><p>L.A. did see 10% fewer deals in 2020, which was emblematic of a national trend of fewer but bigger deals.</p><p>L.A ended the year on a strong note with $3.2 million worth of deals in the fourth quarter, more than double the same period as 2019 and more than any quarter in 2020 except the third quarter.<br/></p><p>Relativity Space, <a data-linked-post="2645826015" href="https://dot.la/relativity-space-tim-ellis-2645826015.html" target="_blank">which uses 3-D printers to make rockets</a>, led the list. Founded by SpaceX alum Tim Ellis in 2015, the Long Beach company <a data-linked-post="2648971175" href="https://dot.la/relativity-space-soars-reportedly-landing-a-500m-investment-2648971175.html" target="_blank">raised a $500 million Series D round</a> led by hedge fund Tiger Global Management in November that values the company at $1.8 billion. </p><p>Another infusion came from Scopely investors, who poured <a href="https://dot.la/doubling-valuation-scopely-is-now-one-of-the-top-la-tech-startups-2648525465.html" target="_self">$340 million in Series E funding </a>into the video game company in October at a $3.3 billion valuation, nearly doubling the company's $1.7 billion post-money valuation from a $200 million deal in March.</p><p><a href="https://dot.la/top-venture-capital-funds-2649623434.html" target="_self">Los Angeles fundraising was also robust </a>in the fourth quarter, with nearly $2.5 million raised across 18 vehicles, almost tripling the haul raised in the last quarter of 2019. </p><p>Those included <a href="https://dot.la/jordan-fudge-sinai-ventures-2649474421.html" target="_self">Sinai Capital Partners, which announced</a> in November a $600 million second fund, $500 million of which will go towards the tech-focused <a href="https://sinaivc.com/" target="_blank">Sinai Ventures</a>. There was also <a href="https://ilovetheupperwestside.com/netflix-co-founder-to-judge-contest-for-uws-brightest-kids/" rel="noopener noreferrer" target="_blank">Westlake Village BioPartners</a>, the two-year-old firm focusing on life science and therapeutic companies. In December, it announced the raise of two new funds together worth $500 million.</p><p>This year is already off to a promising start with Santa Monica-based March Capital announcing Thursday it has closed its third fund, a $450 million vehicle to continue the firm's focus on enterprise software companies. </p><p>If there was a downside to 2020's venture activity it would be that most capital is going towards bigger firms, harming efforts by women and founders of color to gain a toehold in the industry. Established firms secured nearly 75% of total capital raised in 2020, the highest share since 2012.</p><p>"In times of uncertainty people like to go with a known quantity," Perdew said.</p>From Your Site Articles
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