Westwood-based growth equity investment firm 3L Capital announced July 8 it raised a $217 million equity fund to continue investing in local companies looking to grow.

A 3L Capital spokeswoman said the company couldn't disclose the round’s participants but said 3L is a “generalist fund” and will use the money to invest in “companies that are either seeking a Series B or later rounds,” regardless of industry.

3L was founded roughly two years ago by Shawn Colo, former chief executive for Demand Media; Kerry Kellogg; and Dave Leyrer, founder of Boulevard Capital Management. Its previous investments include West Hollywood-based e-bike operator Wheels Labs Inc.; Carthay-based online talk show The Young Turks; and SnackNation, a Culver City-based snack retailer.

3L most recently backed ChowNow, a Playa Vista-based online food ordering platform that raised a $21 million Series C round in May 2019. 3L was a new investor in ChowNow, and Colo joined ChowNow’s board after the raise.

Tech reporter Samson Amore can be reached at samore@labusinessjournal.com or (323) 556-8335. Follow him on Twitter @samsonamore.

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