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Here Are LA's Top VCs, According to Their Peers
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.
Though Silicon Valley is still very much the capital of venture capital, Los Angeles is home to plenty of VCs who have made their mark – investing in successful startups early and reaping colossal returns for their limited partners.
Who stands out? We thought there may be no better judge than their peers, so we asked 28 of L.A.'s top VCs who impresses them the most.
The list includes many familiar names. Dana Settle, founding partner of Greycroft, and Mark Mullen, founding partner of Bonfire Ventures, garnered the most votes.
Settle manages West Coast operations for Greycroft, a New York firm with $1.8 billion in assets under management. She is one of only nine of the top 100 VCs nationally who are women, according to CB Insights.
Mullen is a founding partner of Bonfire Ventures, which closed a $100 million second fund in September to continue funding seed stage business-to-business (B2B) software startups. Mullen has also been an angel investor and is an LP in other funds focusing on other sectors, including MaC VC and BAM Ventures.
Below is the list of the top ranked investors by how many votes each received from their peers. When there was a tie, they appear in alphabetical order according to their last name:

Mark Mullen, Bonfire Ventures
Mark Mullen is a founding partner of Bonfire Ventures. He is also founder and the largest investor in Mull Capital and Double M Partners, LP I and II. A common theme in these funds is a focus on business-to-business media and communications infrastructures.
In the past, Mullen has served as the chief operating officer at the city of Los Angeles' Economic Office and a senior advisor to former Mayor Villaraigosa, overseeing several of the city's assets including Los Angeles International Airport and the Los Angeles Convention Center. Prior to that, he was a partner at Daniels & Associates, a senior banker when the firm sold to RBC Capital Markets in 2007.

Dana Settle, Greycroft
Dana Settle is a founding partner of Greycroft, heading the West Coast office in Los Angeles. She currently manages the firm's stakes in Anine Bing, AppAnnie, Bird, Clique, Comparably, Goop, Happiest Baby, Seed, Thrive Market, Versed and WideOrbit, and is known for backing female-founded companies.
"The real change takes place when female founders build bigger, independent companies, like Stitchfix, TheRealReal," she said this time last year in an interview with Business Insider. "They're creating more wealth across their cap tables and the cap tables tend to be more diverse, so that gives more people opportunity to become an angel investor." Prior to founding Greycroft, she was a venture capitalist and startup advisor in the Bay Area.

Erik Rannala, Mucker Capital
Erik Rannala is a founding partner at Mucker Capital, which he created with William Hsu in 2011. Before founding Mucker, Rannala was vice president of global product strategy and development at TripAdvisor and a group manager at eBay, overseeing its premium features business.
"As an investor, I root for startups. It pains me to see great teams and ideas collapse under the pressure that sometimes follows fundraising. If you've raised money and you're not sure what comes next, that's fine – I don't always know either," Rannala wrote in a blog post for Mucker.
Mucker has a portfolio of 61 companies, including Los Angeles-based Honey and Santa Monica-based HMBradley.

William Hsu, Mucker Capital
William Hsu is a founding partner at the Santa Monica-based fund Mucker Capital. He started his career as a founder, creating BuildPoint, a provider of workflow management solutions for the commercial construction industry not long after graduating from Stanford.
In an interview with Fast Company, he shared what he learned in the years following, as he led product teams at eBay, Green Dot and Spot Runner, eventually becoming the SVP and Chief Product Officer of At&T Interactive: "Building a company is about hiring correctly, adhering to a timeline, and rigorously valuing opportunity. It's turning something from inspiration and creative movement into process and rigor."
These are the values he looks for in founders in addition to creativity. "I like to see the possibility of each and every idea, and being imaginative makes me a passionate investor."

Jim Andelman, Bonfire Ventures
Jim Andelman is a founding partner of Bonfire Ventures, a fund that focuses on seed rounds for business software founders. Andelman has been in venture capital for 20 years, previously founding Rincon Venture Partners and leading software investing at Broadview Capital Partners.
He's no stranger to enterprise software — he also was a member of the Technology Investment Banking Group at Alex. Brown & Sons and worked at Symmetrix, a consulting firm focusing on technology application for businesses.
In a podcast with LA Venture's Minnie Ingersoll earlier this year, he spoke on the hesitations people have about choosing to start a company.
"It's two very different things: Should I coach someone to be a VC or should I coach someone to enter the startup ecosystem? On the latter question, my answer is 'hell yeah!'"
Josh Diamond, Walkabout Ventures
Josh Diamond founded Walkabout Ventures, a seed fund that primarily focuses on financial service startups. The firm raised a $10 million fund in 2019 and is preparing for its second fund. Among its 19 portfolio companies is HMBradley, which Diamond helped seed and recently raised $18 in a Series A round.
"The whole reason I started this is that I saw there was a gap in the funding for early stage, financial service startups," he said. As consumers demand more digital access and transparency, he said the market for financial services is transforming — and Los Angeles is quickly becoming a hub for fintech companies. Before founding Walkabout, he was a principal for Clocktower Technology Ventures, another Los Angeles-based fund with a similar focus.

Kara Nortman, Upfront Ventures
Kara Nortman was recently promoted to managing partner at Upfront Ventures, making her one of the few women – along with Settle – to ascend to the highest ranks of a major VC firm.
Though Upfront had attempted to recruit her before she joined in 2014, she had declined in order to start her own company, Moonfrye, a children's ecommerce company that rebranded to P.S. XO and merged with Seedling. Upfront invested in the combination, and shortly after, Nortman joined the Upfront team.
Before founding Moonfrye, she was the SVP and General Manager of Urbanspoon and Citysearch at IAC after co-heading IAC's M&A group.
In an interview with dot.LA earlier this year, she spoke on how a focus for her as a VC is to continue to open doors for founders and funders of diverse backgrounds.
"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?"

Brett Brewer, Crosscut Ventures
Brett Brewer is a co-founder and managing director of Crosscut Ventures. He has a long history in entrepreneurship, starting a "pencil selling business in 4th grade." In 1998, he co-founded Intermix Media. Under their umbrella were online businesses like Myspace.com and Skilljam.com. After selling Intermix in 2005, he became president of Adknowledge.com.
Brewer founded Santa Monica-based Crosscut in 2008 alongside Rick Smith and Brian Garrett. His advice to founders on Crosscut's website reflects his experience: "Founders have to be prepared to pivot, restart, expect the unexpected, and make tough choices quickly... all in the same week! It's not for the faint of heart, but after doing this for 20 years, you can spot the fire (and desire) from a mile away (or not)."

Eva Ho, Fika Ventures
Eva Ho is a founding partner of Fika Ventures, a boutique seed fund, which focuses on data and artificial intelligence-enabled technologies. Prior to founding Fika, she was a founding partner at San Francisco-based Susa Ventures, another seed-stage fund with a similar focus. She is also a serial entrepreneur, most recently co-founding an L.A. location data provider, Factual. She also co-founded Navigating Cancer, a health startup, and is a founding member of All Raise, a nonprofit that supports and provides resources to female founders and funders.
In an interview with John Livesay shortly before founding Fika, Ho spoke to how her experience at Factual helped focus what she looks for in founders. "I always look for the why. A lot of people have the skills and the confidence and the experience, but they can't convince me that they're truly passionate about this. That's the hard part — you can't fake passion."

Brian Lee, BAM Ventures
Brian Lee is a co-founder and managing director of BAM Ventures, an early-stage consumer-focused fund. In an interview with dot.LA earlier this year, Lee shared that he ended up being the first investor in Honey, which was bought by PayPal for $4 billion, through investing in founders and understanding their "vibe."
"There's certain criteria that we look for in founders, a proprietary kind of checklist that we go through to determine whether or not these are the founders that we want to back…. [Honey's founders] knew exactly what they were building, and how they were going to get there."
His eye for the right vibe in a founder is one gleaned from experience. Lee is a serial entrepreneur, founding LegalZoom.com, ShoeDazzle.com and The Honest Company.

Alex Rubalcava, Stage Venture Partners
Alex Rubalcava is a founding partner of Stage Venture Partners, a seed venture capital firm that invests in emerging software technology for B2B markets. Prior to joining, he was an analyst at Santa Monica-based Anthem Venture Partners, an investor in early stage technology companies. It was his first job after graduating from Harvard, and during his time at Anthem the fund was part of Series A in companies like MySpace, TrueCar and Android.
He has served as a board member in several Los Angeles nonprofits and organizations like KIPP LA Schools and South Central Scholars.
"Warren Buffett says that he's a better businessman because he's an investor, and he's a better investor because he's a businessman. I feel the same way about VC and value investing. Being good at value investing can make you good at venture capital, and vice versa," Rubalcava said in an interview with Shai Dardashti of MOI Global.

Mark Suster, Upfront Ventures
Mark Suster, managing partner at Upfront Ventures, is arguably L.A.'s most visible VC, frequently posting on Twitter and on his blog, not only about investing but also more personal topics like weight loss. In more normal years, he presides over LA's biggest gathering of tech titans, the Upfront Summit. Before Upfront, he was the founder and chief executive officer of two software companies, BuildOnline and Koral, which was acquired by Salesforce. Upfront backed both of his companies, and eventually he joined their team in 2007.
In a piece for his blog, "Both Sides of the Table," Suster wrote about the importance of passion — not just for entrepreneurs and their businesses, but for the VCs that fund them as well.
"On reflection of the role that I want to play as a VC it is clearly in the camp of passion. I really want to start my journeys only with people with whom I want to work closely with for the next 5–7 years or more. I only want to work on projects in which I believe can produce truly amazing change in an industry or in the world."
Lead art by Candice Navi.
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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.
https://twitter.com/thebenbergman
ben@dot.la
Behind Her Empire: Poo-Pourri Founder Suzy Batiz on the 'Luxury of Losing Everything'
11:07 AM | June 29, 2020
Jonathan Zizzo
Suzy Batiz is the founder, creator and CEO of Poo~Pourri and Supernatural cleaning supplies. She's created an enterprise that's worth over $500 million and made Forbes' America's Richest Self-Made Women list without borrowing a dime or raising a single dollar of outside funding.
On this week's episode of Behind Her Empire, hear how success didn't come easy for her. Suzy experienced some of life's lowest lows — poverty, sexual and domestic abuse, depression, two bankruptcies and a suicide attempt — which led to what she calls the luxury of losing everything. Her journey led her to building businesses that only made her feel alive.
Her newest project, ALIVE OS, aims to teach others how to recognize "alive" ideas by "tuning into their intuition" and diving into their creativity to "achieve a naturally abundant flow state in life and business."
Want more? Subscribe to Behind Her Empire on Stitcher, Apple Podcasts, Spotify iHeart Radio or wherever you get your podcasts.
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Yasmin Nouri
Yasmin is the host of the "Behind Her Empire" podcast, focused on highlighting self-made women leaders and entrepreneurs and how they tackle their career, money, family and life.
Each episode covers their unique hero's journey and what it really takes to build an empire with key lessons learned along the way. The goal of the series is to empower you to see what's possible & inspire you to create financial freedom in your own life.
Guest Column: Fernish Co-Founder Says He's Taking Every Precaution During COVID-19
01:23 PM | March 31, 2020
Courtesy Fernish.co
Let's call this the 'lede' and not bury it: I'm a co-founder, father, partner, community member and I've got a lot going on in my head right now. This piece serves as a rapid-fire, stream of consciousness glimpse into my mental montage, which at times shifts swiftly from Boschian fear-scapes, to gallows humor, to intentional positivity to give the vagus nerve the stimulus it needs right now.
Courtesy of FernishHowever, a bit of a necessary preamble here to know prior to digging in further: I'm co-founder of a company in L.A. — that also operates in the original U.S. coronavirus hotspot, Seattle — called Fernish, a full-service premium furniture rental company. It's important to share this bit of background:
A) Much like all VC-backed startups we're always thinking about the next raise, managing cash flow closely, and doing everything we can to retain staff,
B) That we have in-the-field delivery staff that are still entering customers' houses and apartment buildings despite possible exposure and accompanying risk, and
C) Our business has the "fun" and complexity of any bits+atoms business, including supply chain, logistics infrastructure, fixed capital costs associated with things like warehousing, and other upstream ramifications.
Also, much of what "I" am thinking about and "I" am doing are a direct reflection of my co-founder, Michael Barlow, our COO, Kristin Smith, and the rest of our team at large. And with that, we can begin…
What I'm thinking about:
- Our team. I'm spending probably 50% of my mental space thinking about the Fernish team. That might be an underestimation given 200% startup capacity. Questions like: Will our team even be able to continue to operate legally? Will there be an unexpected change to businesses designated as "essential services" that'll force us to shut down our warehouses or delivery services? Will we continue to receive demand for our services while people are hunkered down in order to justify the variable cost of contracted labor (i.e. keeping those non-Fernish employees we think of as our "team" employed)? Will our team be safe—both physically and psychologically—during these unprecedented times? Will our team have confidence that we know WTF we're even doing? (That last one is standard founder imposter syndrome that's only exacerbated given current circumstances.) Can we continue to live by our operating values—the values that should reflect who we are in thick and thin?
- Our customers. What can we do for them differently in terms of the service we're offering? What new product selection should we consider for them to meet their (temporarily?) changing needs? What sort of financial impact will "stay in place" orders have on their lives, their livelihood, and—not to be crass in any way, but—their ability to continue paying Fernish for their monthly subscription plans? And on a longer horizon, will they think of their home's differently and how might that interact their relationship with Fernish?
- Reading: Part 1: Biz Lit as a Tool. I'm reading. A lot. I've always read a lot, but I've found myself circling back to classics like Ben Horowitz's "The Hard Thing About Hard Things", his original "Peacetime CEO/Wartime CEO" blog post, Andy Grove's "High Output Management" (which is my all-time favorite business book). But I'm also reading new pieces by the likes of NfX including "28 Moves to Survive (& Thrive) in a Downturn" and dot.LA Chairman (and amazing operator) Spencer Rascoff's post "Advice to CEOs on Their Upcoming Layoffs — From Someone Who Has Done it Before". I have a strong preference and bias for sober, clear, and practical advice from those who have been there and done that, hence Ben and Spencer's posts speaking to me. Whether facing these choices directly or just to have back-of-pocket for "what if" scenario planning, these are great tools for steeling yourself mentally, and honing your empathetic muscles a bit in an anticipatory fashion.
- Reading: Part 2: The News as Direct Input to Operations. Much like everyone else, I'm following COVID news closely, but especially—much like my founder and operator peers—I'm following news out of Capitol Hill and state/county/municipal governments vis-a-vis fiscal stimulus packages, ever-changing "safer-at-home" order details, and further things that directly impact Fernish and offer us a lifeline via credit facilities, tax deferments, grants, and anything else that helps Fernish extend our runway AND has an impact on how we keep our front-line staff as safe as possible (i.e. Team Fernish delivery drivers and warehouse workers). Thank GOD that congress just managed to pass a multi-trillion dollar COVID financial package.
What I (and Fernish executive team) are doing:
- For our team. We've tightened all of the safety guidelines, secured all the cleaning and protective gear we can responsibly hold (as yes, we're being mindful of the health community needing this same gear), and are proactively reaching out to customers in advance of delivery to verify that no one in the destination household is symptomatic (while simultaneously being aware that COVID can be transmitted even by asymptomatic carriers). And for our now-distributed HQ team WFH, we're holding more virtual events (virtual taco Tuesday, virtual happy hour…but honestly our team is "caring for the communal" and arranging these from the bottom up), checking in daily over Slack on mental/physical health, and trying to make the teams as productive and happy as they can be in their "new" surroundings. And we're discussing all of this daily as an exec team as part of a recurring COVID war room (and yes, fighting this epidemic really does feel like war, even for us who aren't front-line medical professionals). So, succinctly: safety and security.
- For our customers. Like many of our delivery peers, you can expect to see options for "no contact delivery"—win, win for the customer and our team. We're also beefing up office furniture for the WFH masses that weren't quite set up for this to be an everyday thing for months. We're working out how to manage the inevitable financial hardships of our customers in the face of unexpected downtime due to sickness or unemployment due to business closures or at least furloughs. We're showing empathy in all of our communication—this is not new, but we're doubling down here as hardship runs rampant. Not surprisingly, these initiatives, much like those for our team, are also about safety and security.
- For our community. We're giving our time to our peers, as we always have, to contemplate all sorts of scenarios and how to manage that in the context of our businesses. We're giving our money to charitable effortsthat will ideally help those in the communities within which we operate. We're participating in forums to share thoughts, emotions, and posting things like this…that make us vulnerable, but also allow us to connect and allow others to feel isolated within the constraints of social distancing.
- For our company. As any fiscally responsible business should in a time of market volatility and economic uncertainty at a global level, you best believe we're finding opportunities to tighten belts, including filing SBA loans (thanks to new provisions in the recently passed legislation—see a great breakdown in tools for VC-backed startups in this NVCA post), revisiting vendor pricing & relationships (knowing those who work with us now will be good long-term partners), fundraising (but, really, what startup isn't always fundraising?), revisiting any and all variable costs to see what additional burn we can eek out (no sacred cows when you're at war!). Startups aim to survive and thrive in scarcity, so to a certain extent this is just more testing of our mettle, but damn if this isn't really pushing the startup community to our creative financial limits!
- For the future. And yet. And yet, despite all of the arguably defensive and short-term efforts above, we're still making time to think about how we might "gain ground" now, or at least tee up strategic efforts through the blessing of today's unique vantage. We're a funny bunch, entrepreneurs, and right now our delusions are coming in handy, for sure.
For lack of a pithy summary, I simply want to sign off by saying that I hope we all find collective safety and security, and solidarity in this shared crisis, sooner than later.
Lucas Dickey is the chief product officer and co-founder of the furniture rental service, Fernish.
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Lucas Dickey
Lucas Dickey is an aspiring polymath, lover of inventions and the co-founder of Fernish.
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