Tuesday, June 28, 2022

Backstage Capital Axes Employees, Pauses Investments

Los Angeles-based Backstage Capital has laid off nine employees, and is pausing new investments. The firm's founder, Arlan Hamilton, announced the layoffs and pause in investments on a podcast on Sunday. The fund had been aimed at funding underrepresented startup founders. Unusually, the venture fund also had been attempting to crowdraise a new fund from general investors.