Venture Capital

The latest news about venture capital in Southern California from dot.LA.
Image by Joshua Letona

A Los Angeles-based food service startup raised fresh funding to expand its subscription delivery service, while a San Diego-based firm closed its second fund to invest into Latino entrepreneurs in the U.S.

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Courtesy of L'Attitude Ventures

Fewer than 1% of Latino-owned businesses received funding from the top 500 venture capital and private equity firms in 2020, according to a report by the Stanford Latino Entrepreneurship Initiative, even though 19% of Latino-owned businesses in the U.S. were tech-related.

L’Attitude Ventures co-founders Kennie Blanco and Sol Trujillo noticed the huge gap and made investing in underfunded U.S. Latino entrepreneurs the basis for their San Diego and San Francisco-based private equity and venture capital company. The firm invests solely in U.S. Latino founders in seed to Series A stage funding rounds.

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Image courtesy of Marcy Venture Partners

On this episode of the L.A. Venture podcast, Marcy Venture Partners (MVP) investor Charlie Hanna talks about celebrity investments and how cultural trends inform the group’s investment strategies.

Jay-Z, Jay Brown and Larry Marcus founded MVP—named after the Marcy Projects where Jay-Z grew up—in 2018 and have since grown the fund from $30 million to $900 million assets under management (AUM).

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