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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
🎧The Essential Podcast Playlist for Entrepreneurs, Founders, Tech Pros, and VCs
06:44 PM | September 25, 2024
Podcasts offer a front-row seat into the minds of the most successful entrepreneurs, VCs, and industry thought leaders. Whether you're scaling your startup, raising capital, or simply staying ahead of the game, these shows deliver invaluable insights, actionable lessons, and fresh inspiration. And let’s be honest, if you’re stuck in LA traffic (again), what better way to kill time than by learning from the best? Here’s a roundup of our top podcasts for entrepreneurs, founders, tech professionals, and VCs, complete with why they’re a must-listen.
Image Source: Apple Podcasts
The a16z Podcast
- Hosts: Partners at Andreessen Horowitz (a16z), one of Silicon Valley’s most influential venture capital firms.
- What it discusses: Covering a broad spectrum of topics like AI, blockchain, healthcare, and fintech, the podcast features interviews with founders, VCs, and tech leaders shaping the future.
- Why you should listen: Get access to cutting-edge insights from one of the world’s most influential VC firms, keeping you ahead of emerging trends.
- Why it’s great for entrepreneurs, founders, and VCs: This podcast brings cutting-edge insights from one of the top VC firms. Entrepreneurs will learn about emerging technologies, while VCs can stay ahead of investment trends shaping the future of tech.
Listen on: Spotify |Apple Podcasts
Image Source: Apple Podcasts
Acquired Podcast
- Hosts:Ben Gilbert andDavid Rosenthal.
- What it discusses: Acquired breaks down the stories behind major tech acquisitions, IPOs, and exits, dissecting the strategies and market dynamics involved.
- Why you should listen: Gain deep insights into how tech giants build and sell, making it essential for anyone aiming to understand successful exits.
- Why it’s great for entrepreneurs, founders, and VCs: Perfect for founders looking to scale or position themselves for acquisition. VCs will benefit from the deep dives into the playbooks of successful exits, offering valuable lessons on company growth and market positioning.
Listen on: Spotify |Apple Podcasts
Image Source: Apple Podcasts
The All-In Podcast
- Hosts:Chamath Palihapitiya (Social Capital),Jason Calacanis (LAUNCH),David Sacks (Craft Ventures), andDavid Friedberg (The Production Board).
- What it discusses: From venture capital and tech trends to politics and economics, this podcast delivers unfiltered, candid commentary from high-profile industry insiders.
- Why you should listen: It’s a no-holds-barred discussion on major issues affecting the tech industry, providing you with insider insights into the conversations that shape Silicon Valley.
- Why it’s great for entrepreneurs, founders, and VCs: The candid, unfiltered conversations give listeners a peek into the decision-making processes of some of the biggest names in tech and VC. Entrepreneurs can gain valuable market insights, while investors will appreciate the high-level strategy discussions.
Listen on:Spotify | Apple Podcasts
Image Source: Apple Podcasts
BG2 Podcast
- Hosts:Brad Gerstner (Altimeter Capital) andBill Gurley (Benchmark).
- What it discusses: BG2 takes you through macroeconomic trends, the tech market, venture capital insights, and cutting-edge technologies like AI. It’s a high-level conversation on tech investing.
- Why you should listen: Brad and Bill’s deep experience in tech investing, combined with their straightforward, no-nonsense style, makes this a must-listen for tech insiders.
- Why it’s great for entrepreneurs, founders, and VCs: Get insider-level insights into the macro trends driving tech investments. Founders will learn how to navigate these trends, while VCs can better understand the shifting forces in the venture world.
Listen on: Spotify | Apple Podcasts
Image Source: Apple Podcasts
Crucible Moments Podcast
- Host:Roelof Botha of Sequoia Capital
- What it discusses: The podcast dives into the pivotal, career-defining moments of top leaders and entrepreneurs. Guests share personal stories of resilience, growth, and how they overcame adversity.
- Why you should listen: It’s packed with inspirational stories of grit and perseverance, offering lessons that apply to both life and business.
- Why it’s great for entrepreneurs, founders, and VCs: The podcast’s focus on personal and professional resilience makes it especially valuable for entrepreneurs who need inspiration during tough times, and VCs who want to understand how founders overcome adversity.
Listen on: Spotify | Apple Podcasts
Image Source: Apple Podcasts
Grit Podcast
- Host:Joubin Mirzadegan.
- What it discusses: In-depth interviews with founders, executives, and leaders who share stories of navigating challenges, building resilience, and finding success in tough times.
- Why you should listen: If you want raw, real stories of leadership and determination, this podcast offers invaluable insights into what it takes to lead in business.
- Why it’s great for entrepreneurs, founders, and VCs: The podcast’s focus on perseverance and leadership makes it a must-listen for founders facing challenges in their business. VCs will gain insights into the traits that make strong, resilient founders.
Listen on: Spotify | Apple Podcasts
Image Source: Apple Podcasts
The Twenty Minute VC
- Host:Harry Stebbings.
- What it discusses: Featuring short, insightful interviews with top VCs and founders, this podcast covers topics ranging from securing funding to scaling startups.
- Why you should listen: Perfect for busy professionals who want quick, actionable advice on navigating the venture capital world.
- Why it’s great for entrepreneurs, founders, and VCs: For busy entrepreneurs, this podcast delivers quick, actionable advice on funding and scaling. VCs can stay connected to the latest trends through bite-sized interviews with industry leaders.
Listen on: Spotify |Apple Podcasts
These podcasts are packed with insights, inspiration, and actionable advice for anyone looking to grow, innovate, or level up. Whether you're building something new, looking for investment know-how, or just eager to learn from those who've been there, each show has something valuable to keep you moving forward on your journey.
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Luxurious Second Home Ownership without the Headache: How Pacaso is Changing the Landscape of Real Estate
12:36 PM | September 27, 2024
🔦 Spotlight
Pacaso addresses the pain points of second home ownership, offering a luxurious, flexible, and financially sound alternative to traditional second homes and ultra-luxury hotels. Co-founded in 2020 by entrepreneur Austin Allison and former Zillow executive and prominent LA tech figure Spencer Rascoff, Pacaso, an unicorn startup, has redefined vacation home ownership with its unique co-ownership model. Rascoff's contributions to the LA tech scene extend beyond real estate; he also founded 75 & Sunny, an LA-based startup studio and venture fund, and co-founded dot.LA, an LA tech news and events company.
LA residents adore Pacaso for its lush vacation destinations that also make for smart investments. Pacaso offers everything from serene weekend getaways in Aspen to sophisticated escapes in Paris. Each residence, valued between $200k to over $2M for 1/8th, boasts meticulous design, high-end furnishings, and premium amenities. Unlike traditional second home ownership, which involves high costs, maintenance, and underutilization, or ultra-luxury hotels, which lack the personal touch and investment potential, Pacaso's co-ownership model offers a superior solution. Co-owners enjoy the benefits of a high-end vacation home without the full financial burden and hassle of sole ownership, making it a smarter and more flexible choice for discerning buyers.
Image Source: Pacaso
Cabo, Mexico
$822,000 (1/8th ownership)
5 bds. l 5 ba. l 4,969 sq ft
Image Source: Pacaso
Paris, France
$600,000 (1/8th ownership)
2 bds. l 2.5 ba. l 1,410 sq ft
Image Source: Pacaso
Malibu, California
$750,000 (1/8th ownership)
3 bds. l 3 ba. l 1,880 sq ft
Image Source: Pacaso
Park City, Utah
$755,000 (1/8th ownership)
4 bds. l 4.5 ba. l 2,584 sq ft
Head to Pacaso to learn more about its innovative co-ownership model that addresses the common challenges of second home ownership!
🤝 Venture Deals
LA Companies
- Oak Essentials, the natural skincare brand founded by Jenni Kayne, has raised an undisclosed amount in Series A Funding from Silas Capital and Unilever Ventures. This investment will drive the brand’s expansion, focusing on product development, boosting marketing efforts, and expanding distribution channels. - learn more
- Playhouse MD, an upcoming children’s healthcare platform that incorporates play to enhance health outcomes, has raised $4M in funding, according to a recent SEC filing. - learn more
- FluidLogic, a high-performance hydration system provider, raised $15M in a Series A Extension led by Solyco Capital to support product development and innovation for adventure sports and outdoor endurance categories, with consumer products launching in early 2025. - learn more
- Reflect Orbital, which uses in-space reflectors to direct sunlight to solar farms and large-scale lighting applications after sunset, has raised $6.5M in seed funding led by Sequoia Capital. The funding will help the company develop production vehicles and expand its team as it builds space-based energy infrastructure. - learn more
- Feno, a Los Angeles-based company developing an AI-powered energy trading platform, raised $6M in seed funding led by Bold Capital Partners. - learn more
LA Venture Funds
- Finality Capital led a $4M Pre-Seed Funding Round for Octra, a pioneering blockchain network focused on Fully Homomorphic Encryption (FHE). - learn more
- Smash Capital led a €20M Series B round into Vilnius-based Ovoko, an e-commerce platform for buying and selling used car parts across Europe, marking Smash Capital's first investment in Lithuania. The funds will support Ovoko's product development, market expansion, and team growth as it aims to dominate the European market for second-hand automotive components. - learn more
- M13 led a $9M Series A Funding Round for Zenlytic, the world’s first self-serve business intelligence platform. - learn more
LA Exits
- Donut Digital, a Manhattan Beach creative-led performance marketing agency, agreed to be acquired by New Engen, a leading digital marketing agency. - learn more
- National Emblem Inc., a renowned manufacturer of emblems and specialty products, has been acquired by Enrich Enterprises Inc., which will now operate under the National Emblem tradename. - learn more
- Continuum Global Solutions’ healthcare vertical has been acquired by Everise, a customer service management company, enhancing Everise’s capabilities in pharmacy benefit management and expanding its growth prospects in the healthcare sector. - learn more
- Radical Semiconductor, a company specializing in processing-in-memory technology, has been acquired by BTQ Technologies, a leader in post-quantum cryptography. This acquisition strengthens BTQ’s ability to secure data in the post-quantum era by integrating Radical Semiconductor's advanced technology portfolio. - learn more
- Subrosa Digital, a full service digital marketing and consulting agency, was acquired by Navio Networks, a leading CTV operator in Free Ad-supported Streaming TV (FAST). - learn more
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