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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
LA Is Betting on Nukes, Netflix and Next-Gen Attention
11:30 AM | December 19, 2025
🔦 Spotlight
Hey Los Angeles.
If you were looking for a quiet week, this was not it. LA is backing a portable nuclear reactor, Netflix just took a big step closer to owning Warner Bros. Discovery’s future, and Snapchat is basically handing the city a mirror and saying, “Here is what you did with your attention all year.”
Let’s dive in.
Radiant’s microreactors and LA’s new nuclear moment
Radiant Nuclear raised more than $300M in a Series D round to build Kaleidos, a one megawatt portable nuclear microreactor that is designed to roll off a factory line, ship in a standard container and replace diesel generators at remote sites, military bases and disaster zones. The new capital will fund a full scale test at Idaho National Lab and the build out of Radiant’s R 50 factory in Oak Ridge, Tennessee, which aims to produce up to 50 reactors a year starting later this decade.
For LA’s climate and infrastructure ecosystem, this is a big tell. The city that got rich on pipelines of content is now funding pipelines of electrons, betting that small, modular nuclear can be part of the grid story that powers everything from data centers to defense. It is a very different flavor of LA tech, but the pattern is familiar: take a frontier technology, wrap it in product thinking and try to make it feel as boring and reliable as a utility bill.
Netflix and Warner Bros. Discovery: one step closer
On the media front, Netflix just received an official recommendation from Warner Bros. Discovery’s board to proceed with the planned acquisition of WBD’s studios and streaming business. The board reaffirmed that the Netflix deal, which would fold Warner Bros. film and TV, HBO and HBO Max into Netflix, is in the best interest of shareholders, even as competing ideas swirl around what to do with the company.
Practically, this does not mean the deal is done. It means the process has moved from “big idea in a press release” into the slower, more serious phase of shareholder approvals and regulatory review. For Los Angeles, every incremental step like this reinforces the likely end state: a world where a handful of global platforms control not just distribution but also the studios and libraries that defined Hollywood’s last century.
Snapchat’s 2025 Recap and the attention economy in our backyard
Then there is Snapchat, which used its 2025 Recap to show off what its mostly Gen Z and Gen Alpha users actually did on the app this year. The company is leaning into personalized “year in review” stories that highlight top chats, memories, maps moments and creator content, while quietly reminding brands and investors that Snap still owns a very specific slice of youth attention that is hard to find anywhere else.
For LA, Snapchat’s recap is more than a cute end of year product. It is a reminder that some of the most important social infrastructure for the next generation is being built and iterated a short drive from Santa Monica Boulevard. While the grown ups argue about nuclear reactors and studio mergers, Snap is training the next wave of consumers how to communicate, create and remember their lives on a platform that barely existed fifteen years ago.
Taken together, this week says a lot about what “LA tech” means in 2025. On one end, you have Radiant trying to change how we power the physical world. On the other, Netflix and Snapchat are fighting over how we package and monetize the stories that live in our heads. Somewhere in the middle are the founders, investors and operators here who see all of this as raw material.Now keep scrolling for this week’s LA venture deals, fund announcements and acquisitions.
🤝 Venture Deals
LA Companies
- Fixated secured a $50M strategic investment from Eldridge Industries to fuel what it calls the “next era of creator-led empires.” The company says the capital will help it expand its capabilities and partnerships that support creators in building and scaling their own brands and businesses beyond traditional sponsorship deals. - learn more
- Vital Lyfe raised $24M in financing, including more than $18M in seed funding, in a round led by Interlagos and General Catalyst with participation from Generational Partners, Cantos, Space.VC and Also Capital. The Hawthorne based startup, founded by former SpaceX engineers, will use the capital to ramp manufacturing of its portable, autonomous “water making” systems, expand early deployments with partners like maritime operators and NGOs, and prepare for its first consumer ready products in 2026. - learn more
- Molly Sims’ YSE Beauty closed a $15M Series A growth equity round led by Silas Capital, with participation from L Catterton and existing backers Willow Growth Partners and Halogen Ventures. The clinically tested skincare brand, which targets women 35+ and recently rolled out nationally at Sephora, will use the funding to fuel product development, expand across Sephora doors in the U.S., and grow its direct-to-consumer e-commerce business. - learn more
- Ember LifeSciences raised a $16.5M Series A led by Sea Court Capital, with participation from Cardinal Health, Carrier Ventures and other strategic investors including former U.S. Secretary of State Mike Pompeo. The Los Angeles based cold chain tech company will use the funding to launch its next generation Ember Cube 2 shipping system and expand globally, helping pharma and healthcare customers cut temperature related losses and waste in medicine distribution. - learn more
- Strada, a Los Angeles–based media collaboration startup, received a strategic investment from Other World Computing (OWC) to accelerate its product roadmap. The company’s peer-to-peer platform lets video pros access, share and review large files directly from local drives anywhere in the world, without uploading to the cloud. The partnership will also include co-marketing efforts, joint NAB 2026 presence, and bundled offerings that pair Strada’s software with OWC’s storage and workflow hardware. - learn more
LA Venture Funds
- Calibrate Ventures participated in Manifold’s Series B round, backing the company as it scales its AI technology platform. Manifold plans to use the new capital to accelerate product development, deepen its capabilities for enterprise customers, and grow its team to support broader commercial rollout. - learn more
- SmartGateVC participated in NeuraWorx’s oversubscribed seed round, which was led by Nexus NeuroTech to back the company’s neurotechnology based therapies for central nervous system (CNS) disorders. NeuraWorx plans to use the capital to advance its R&D and early clinical work, build out its technology and product pipeline, and expand its team as it moves toward bringing new CNS treatments to market. - learn more
- Kinship Ventures participated in Lovable’s $330M Series B, which values the Stockholm based “vibe coding” platform at $6.6B in a round co-led by CapitalG and Menlo Ventures’ Anthology fund. The company lets non developers build full stack software from natural language prompts, and says it will use the new capital to scale its AI native platform globally, deepen enterprise features and integrations, and support a fast growing base of business users building production apps on Lovable. - learn more
- B Capital participated in MoEngage’s $180M Series F follow-on, which brings the customer engagement platform’s total Series F raise to $280M. The round was led by ChrysCapital and Dragon Funds, with Schroders Capital and TR Capital also joining, and will be used to accelerate MoEngage’s Merlin AI product roadmap, expand go-to-market teams across North America and EMEA, and pursue strategic acquisitions while also funding an employee and early-investor liquidity program. - learn more
- O'Neil Strategic Capital led HEN Technologies’ $22M financing, which combines a $20M oversubscribed Series A with $2M in venture debt, to build what the company calls the industry’s first operating system for fire defense. The Hayward based startup will use the capital to scale its IoT enabled hardware and Fluid IQ predictive AI platform, capture a comprehensive operational fire dataset, and expand global deployments with distributors and agencies as it aims to make fire suppression faster, more efficient and data driven. - learn more
- Core Innovation Capital participated in Transparency Analytics’ second funding round, backing the company alongside lead investor Deciens Capital, Allianz Life Ventures, Mouro Capital, FJ Labs and SUM Ventures. Transparency Analytics, which provides quantitative, tech enabled credit ratings and benchmarking for private credit, will use the funding to scale its platform, refine go to market strategy and build out products like its private credit index as the asset class grows. - learn more
- Upfront Ventures participated in Nanit’s $50M growth round, which was led by Springcoast Partners with support from JVP. The company will use the funding to expand its AI powered Parenting Intelligence System and related tools that give parents real time, personalized insight into a baby’s sleep, health and development between pediatric visits. - learn more
- Integrity Growth Partners fully funded Fluency’s $40M Series A, coming in as the company’s first major institutional investor. Fluency, a “digital advertising operating system,” centralizes and automates paid media across Google, Meta, TikTok, programmatic and more, already powering nearly $3B in annual ad spend and over 250,000 monthly campaigns. The company plans to use the capital to enhance its automation and agentic AI capabilities, expand integrations with publishers and tech partners, and grow its team. - learn more
- JAM Fund joined Last Energy’s oversubscribed $100M+ Series C, backing the advanced nuclear startup as it pushes to commercialize its factory built microreactors. The round was led by Astera Institute with investors including Gigafund, The Haskell Company, AE Ventures, Ultranative, Galaxy Interactive and Woori Technology. Last Energy plans to use the capital to complete its PWR-5 pilot reactor under the U.S. DOE’s Reactor Pilot Program, ramp manufacturing in Texas, and advance its larger PWR-20 units toward commercial deployment in the U.S. and U.K. - learn more
LA Exits
- NextWave is being acquired by Pattern, bringing the TikTok-focused commerce agency under Pattern’s umbrella to strengthen its TikTok Shop and creator-led commerce capabilities. The deal folds NextWave’s expertise in TikTok Shop strategy, operations and creator partnerships into Pattern’s broader ecommerce platform, giving brands a single partner to manage marketplace, DTC and social shopping channels. - learn more
- Ubiquitous is being acquired by Humanz as part of Humanz’s broader push to build a next-gen, data driven creator economy platform alongside its recently announced $15M funding round. The deal folds Ubiquitous’ creator marketing and TikTok/native social expertise into Humanz’s influencer analytics and campaign tooling, giving brands a more end-to-end partner for strategy, creator management and performance measurement across major social channels. - learn more
- Silver Tribe Media is being acquired by TPG-backed Initial Group, which is folding the company into its broader sports and entertainment platform. The deal brings Silver Tribe’s storytelling, production and athlete brand work under Initial Group’s umbrella, giving it more capital and distribution while expanding Initial’s in-house content capabilities around teams, athletes and sponsors. - learn more
- Duffl, the YC-backed campus delivery startup, is being acquired by Rev Delivery, bringing its “10M campus delivery pioneer” operation under Rev’s umbrella. The acquisition folds Duffl’s college-focused, ultra-fast delivery network and playbook into Rev’s hyper-growth delivery operators, with the goal of scaling on-demand service across more campuses and strengthening Rev’s position in student-centered last-mile logistics. - learn more
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The Streaming Era Just Ate the Studio Era
10:45 AM | December 06, 2025
🔦 Spotlight
Hello Los Angeles!
In a week where everyone was already arguing about what “the future of entertainment” is supposed to look like, Netflix decided to skip the debate and buy a giant piece of the past and, possibly, the future. Netflix announced a definitive agreement to acquire Warner Bros. Discovery’s Studios and Streaming business, including Warner Bros. film and television studios plus HBO and HBO Max. This is not just another media merger. It is a power transfer, from the studio era where the gatekeepers were greenlight committees to the platform era where the gatekeepers are subscriber relationships, home screens, and retention math.
Here are the bones of the deal. WBD shareholders would receive $27.75 per share, made up of $23.25 in cash and $4.50 in Netflix stock, with the stock portion subject to a symmetrical collar. Netflix puts the transaction at roughly $72 billion in equity value and $82.7 billion in enterprise value, and expects it to close in 12 to 18 months, but only after WBD completes its planned separation of its Global Networks business into Discovery Global, now expected in Q3 2026.
Now zoom in on why this matters in Los Angeles specifically.
LA’s creative engine is about to be run by a single, very efficient distribution machine
Warner Bros. is not just a studio. It is an institutional muscle memory for how to develop, package, and produce at scale, plus a library and franchises that can carry a business through multiple economic cycles. Netflix is not just a distributor. It is the largest direct to consumer entertainment subscription platform on earth, built around global reach, product iteration, and data feedback loops. Put them together and you get a company that can create, market, distribute, and monetize premium entertainment without needing anyone else’s permission.
That will sound exciting to some creators and terrifying to others, often for the same reason. When the same entity owns the audience relationship and the content factory, it can take bigger swings because it has more margin for error. It can also take fewer swings because it does not need to. The incentive shifts from “What is culturally important?” to “What makes people stay?” Those are sometimes the same question. Sometimes they are not.
This deal won’t be decided in a writers’ room. It’ll be decided by regulators.
This is exactly the type of consolidation regulators have been itching to interrogate. A combined Netflix plus HBO Max instantly raises questions about market power, competition, and pricing, plus downstream effects on theaters, independent studios, and negotiating leverage with talent. Even if Netflix vows to maintain current operations and keep the consumer experience strong, the political story is straightforward: fewer giant buyers typically means less bargaining power for everyone who sells into the system.
Also worth noting, Reuters reports a termination fee of $5.8 billion under certain circumstances, which tells you both sides are bracing for a drawn out, high scrutiny process.
The quiet subtext: the bundle is coming back, just wearing a streaming hoodie
Netflix will almost certainly pitch this as more choice and better value. Regulators will hear less competition. Consumers will hear how much is this going to cost me. The most plausible end state is not a single mega app on day one. It is a reimagined bundle: separate brands, packaged pricing, shared sign on, cross promotion, and eventually tighter integration if the politics and churn math allow it.
The real disruption is not whether HBO Max keeps its name. It is whether Netflix becomes the default front door to premium scripted entertainment globally.
🤝 Venture Deals
LA Companies
- Castelion, a Torrance based defense technology startup, raised a $350M Series B round led by Altimeter Capital and Lightspeed Venture Partners, with participation from investors including Andreessen Horowitz, General Catalyst, Lavrock Ventures, Space VC, Avenir and Interlagos Capital. The money will be used to scale production of its Blackbeard hypersonic weapon, stand up its Project Ranger manufacturing campus in New Mexico, and support multiservice testing and integration with U.S. Army and Navy platforms starting in 2026. - learn more
- Antares announced a $96M Series B to accelerate an iterative “build, test, iterate” approach to developing nuclear reactors quickly, with the funding going toward hardware and subsystem testing, fuel fabrication, manufacturing, and the infrastructure to turn on a reactor. The company says it plans a low-power “Mark-0” reactor demonstration in 2026 at Idaho National Laboratory, with a pathway to a full-power electricity-producing reactor as early as 2027 and a commercial prototype microreactor (“Mark-1”) after the Mark-0 milestone. - learn more
LA Venture Funds
- With FirstLook Partners participating, Flex raised a $60M Series B led by Portage, bringing its total equity raised to $105M to build an AI native finance platform for middle market business owners. The company says it will use the new funding to accelerate product expansion and scale its AI agent infrastructure across areas like private credit, business finance, personal finance, payments, and ERP. - learn more
- Led by MTech Capital, Curvestone AI raised a $4M seed round with participation from Boost Capital Partners, D2 Fund, and Portfolio Ventures to scale its AI automation platform for regulated industries like financial services, legal, and insurance. The company says it’s tackling the “compound error” problem that makes multi step AI workflows unreliable, and will use the funding to accelerate product development and go to market expansion. - learn more
- Co-led by CIV, Unlimited Industries raised a $12M seed round (alongside Andreessen Horowitz) to scale its “AI-native construction” approach to designing and building major infrastructure projects. The company says its platform can generate and evaluate massive numbers of design configurations to optimize for cost, safety, and performance, cutting pre-construction engineering timelines from months to weeks, and it is initially focusing on projects that rapidly expand U.S. power capacity for things like data centers, critical minerals, and advanced manufacturing. - learn more
- With Hyperion Capital participating (alongside Amplify Venture Partners, Spark Capital, Tamarack Global and others), Antithesis raised a $105M Series A led by Jane Street, which is both an investor and an existing customer. The company says it will use the capital to accelerate its deterministic simulation testing platform and scale go to market efforts across North America, Europe, and Asia, positioning the product as “critical infrastructure” for teams running complex distributed systems. - learn more
- With XO Ventures participating, Orq.ai raised an oversubscribed €5M seed round led by seed + speed Ventures and Galion.exe to help enterprises build, deploy, and manage production grade AI agents with stronger control over data, behavior, and compliance. The company says the funding will accelerate expansion of its platform, including its newly launched Agent Studio and managed runtime, as it pushes to close the “AI production gap” for companies moving beyond demos into real deployment. - learn more
- Untapped Ventures participated in Lemurian Labs’ oversubscribed $28M Series A, co-led by Pebblebed Ventures and Hexagon, as the company builds a software-first platform designed to run AI workloads efficiently across any hardware and across edge, cloud, and on-prem environments. Lemurian says the funding will help it expand engineering, accelerate product development, and deepen ecosystem collaborations aimed at reducing vendor lock in and infrastructure costs. - learn more
- Fifth Wall and Park Rangers Capital participated in Ridley’s $6.4M seed round, which Fifth Wall led, backing the company’s push to rebuild the real estate process around consumers with fewer commission-heavy frictions. Ridley says the capital will help launch an AI-powered buy-side experience that surfaces private, for-sale, and “soon-to-be-listed” homes using predictive analytics, while also expanding its commission-free seller tools and “Preferred Agents” network for on-demand support. - learn more
- Anthos Capital participated in Kalshi’s $1B Series E at an $11B valuation, a round led by Paradigm with other backers including Sequoia, Andreessen Horowitz, Meritech, IVP, ARK Invest, CapitalG, and Y Combinator. Kalshi says its trading volume now exceeds $1B per week across 3,500+ markets, and it will use the new capital to accelerate consumer adoption, integrate more brokerages, strike news partnerships, and expand product offerings. - learn more
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