Wednesday, March 23, 2016Survey: SoCal Startups Optimistic Even As Venture Capital TightensA new survey, released this week by Silicon Valley Bank, finds that even as the availability of venture capital in Southern California is tightening, and lofty unicorn valuations are declining, startup entrepreneurs are still optimistic about the future of technology in the region. The Startup Outlook 2016 report--SVB's annual analysis of the startup environment--broke out regional findings for Southern California for the first time, pulling responses from the local market about what technology (More info...)
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HomeUnion Finds $16M For Rental InvestmentsIrvine-based HomeUnion, a crowdfunding site focused on rental real estate investments, has raised $16M in a Series B funding, the company said Tuesday. The funding came from Colchis Capital, Northgate Capital, and Tamarisc along with Artiman. HomeUnion said it has now raised a total of $23M in funding. HomeUnion lets investors invest in pre-vetted rental properties via its website, which it fully manages through its own rental management arm. The startup is led by Don Ganguly.
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Wavemaker Partners Backs Front Desk With $1M InvestmentLos Angeles-based venture investor Wavemaker Partners has made a $1M investment in Front Desk, a developer of mobile scheduling and payment services for businesses, the company disclosed Tuesday. The funding is an extension of a recently announced Series A funding for Front Desk, which is based in Seattle. Front Desk had earlier raised $3.5M from Floodgate, Second Avenue Partners, Version One Ventures, and Zillow founder Rich Barton.
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Digsy Expands To Silicon Valley, Backed By Angel FundingIrvine-based Digsy, an online search service for finding commercial office, warehouse or retail space, said today that it has launched into Silicon Valley and San Francisco. The startup also revealed a funding by investors Gil Amelio (former CEO of Apple), Gordon Stephenson (board member with Zillow) and Sean Ellis (GrowthHackers.com and DropBox), K5 Ventures, Tech Coast Angels, early LoopNet executives and other angels. Digsy, led by Andrew Bermudez, says that so far it has helped over 100 busi (More info...)
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RealD Acquired By Rivzi Traverse For $551MLos Angeles-based RealD has been acquired by private equity investor Rivzi Traverse Management, along with founder Michael V. Lewis, in a deal worth $551M, the companies said late Tuesday. Rivzi Traverse is paying $11.00 per share in cash for each share of RealD, taking the company private. RealD had been listed on the New York Stock Exchange. The deal had originally been announced in November. Michael Lewis will continue to serve as CEO of the company, which develops 3D movie projection technol (More info...)
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ImpediMed Raises $56.8M In Private PlacementImpediMed, a developer of medical devices used to measure, monitor, and manage fluid status in patients, said Tuesday that it has raised $56.8M in a private placement. The company--which is based in Australia, but has its U.S. headquarters in Carlsbad--said it raised A$75.1M in its private placement with institutional investors. The funding was managed by Canaccord Genuity (Australia) Limited. The company's medical technology is used in treatment of chronic heart failure.
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