3L Capital gains $217 million; SpaceX Starlink rivaled by Amazon; BBC invests in Quibi
Westwood-based venture capital firm 3L Capital announced July 8 it raised a $217 million equity fund to continue investing in local companies seeking capital to grow. The firm wouldn't disclose the round’s participants, but a spokeswoman said it plans to use the money to invest in “companies that are either seeking a Series B or later rounds,” regardless of industry.
Engadget reports Amazon.com Inc. appears to be planning to launch thousands of satellites into orbit as part of a plan to provide worldwide internet. SpaceX’s version of this, called Starlink, is already underway -- the Hawthorne-based company launched 60 satellites in May 2019, the first installment in a constellation of more than 12,000.
Jeffrey Katzenberg and Meg Whitman’s short-form video outfit Quibi, based in Hollywood, gained a new investor in BBC Studios, according to Variety. BBC Studios confirmed the deal but would not disclose how much it invested in Quibi. BBC will also produce a nature show for Quibi about female animals once Quibi launches in April 2020.
Tech reporter Samson Amore can be reached at email@example.com or (323) 556-8335. Follow him on Twitter @samsonamore.
For reprint and licensing requests for this article, CLICK HERE.
Stories You May Also Be Interested In
- Silicon Beach Report June 10: Pluto TV Pushes into Latino Markets
- Silicon Beach Report June 25: Falcon Heavy Launches 24 Payloads Successfully
- Silicon Beach Report June 20: SpinLaunch Wins Defense Department Contract
- Silicon Beach Report March 12: Pritzker Group Leads Livly Investment
- Silicon Beach Report Dec. 26: Katzenberg Hires More Quibi Executives
- 3L Capital Raises $217 Million Fund to Invest in Local Startups
- Silicon Beach Report April 29: SpaceX Revises Starlink Plans
- Silicon Beach Report May 24: Snap Hires New Diversity Lead