Santa Monica venture capital firm Tylt Labs said it had raised a $20 million fund to be deployed in seed and A round investments.
The round, led by Tylt co-founder Rami Rostami, is intended to fund investments of between $50,000 and $2 million in 12 to 15 businesses. Co-founder and Managing Director Gerard Casale said the firm is open to investing in all sorts of different businesses.
Tylt, founded in October, has already participated in two seed investments. The firm invested in Westchester logistics startup Cargomatic and San Francisco sporting event ticket company Pogoseat.
“We’re looking at anything,” Casale said. “That said, we definitely have strength in consumer products, lifestyle products and software service-type companies. There’s a core for what we and our advisors know very well.”
Rostami is chief executive of Simi Valley cellphone accessory firm Technocel, and Tylt portfolio companies will be able to tap its programmers, designers and its logistics network.
“Everything in Rami's universe is to benefit our companies,” Casale said. “Rami was in the mobile accessory business very early. He built up a strong brand and distribution platform.”
The five-employee company is also looking to bring on more partners and advisors.
Casale, a former attorney, said he and Rostami had invested together in various startups throughout the past six years before deciding to start Tylt.