LA BUSINESS JOURNAL DAILY NEWS
USC Board of Trustees Upholds Decision to Remove Marshall School Dean
The USC Board of Trustees on Wednesday voted to uphold interim President Wanda Austin’s decision to remove Marshall School of Business Dean Jim Ellis from the post, effective in June, according to a statement from the university.
South Bay Partners Plans 192-Unit Senior Community Near Century City
Developer South Bay Partners has announced plans for a senior living community near Century City. Plans filed with the city Dec. 6 call for 192 units. Of the units, 71 will be independent living, 75 will be assisted living and 46 will be memory care living.
Silicon Beach Report Dec. 7: InSight Rover Begins Mars Analysis
New sponsors for Call of Duty World League; InSight Rover starts taking red planet data; former employees say Defy Media’s abrupt closure left them without final paychecks.
Clearlake Acquires Health Tech Company Symplr
Private equity firm Clearlake Capital Group, based in Santa Monica, has completed its acquisition of Symplr, a health-tech company based in Houston, the company announced on Dec. 7.
Silicon Beach Report Dec. 6: Netflix’s $100M bid for “Friends”
Netflix pays $100 million for exclusive rights to “Friends;” Hulu chief hints streamer may be considering bid for sports; Aussie cotton farmers to use Semtech’s LoRa wireless networking tech.
Square Mile, Deutsche Bank Provide $231.6M in Financing for Culver City Office Portfolio
Square Mile Capital Management LLC and Deutsche Bank are providing $231.6 million in financing for creative offices in Culver City, Square Mile Capital announced Dec. 5. The borrower is Culver City-based Samitaur Constructs.
MedMen Names Former Apple Retail Executive as New CFO
MedMen Enterprises Inc., a cannabis company based in Culver City, has named veteran finance executive Michael W. Kramer as its chief financial officer, nearly three weeks after his predecessor abruptly resigned from his post.
Granite, Industrious Bring Coworking to Glendale
As companies move away from traditional workplaces, the need for coworking spaces has grown.
NuOrder Closes on $15M Investment
Company plans to to grow B2B platform between businesses
Los Angeles-based NuOrder, a B2B wholesale e-commerce platform, closed on a $15 million Series C financing round, led by Radnor, Pa.-based venture capital firm NewSpring and joined by existing investors Upfront Ventures of Santa Monica and Argentum of New York City.
Silicon Beach Report Dec. 5: Hyperloop Transportation Technologies Creates New Venture
Upfront Ventures leads $14 million MetaCX round; Axiomatic invests in Matcherino; Hyperloop Transportation Technologies links with German port authority.
Upfront Ventures Leads $14M MetaCX Funding Round
Early-stage venture capital investor Upfront Ventures, based in Santa Monica, led a $14 million investment round for MetaCx, an Indianapolis-headquartered developer of e-commerce management software.
L.A.-Based Platinum Equity’s Vertiv Buys MEMS Power Maintenance Business
Los Angeles private equity firm Platinum Equity announced that its portfolio company Vertiv completed the purchase of the maintenance business of MEMS Power Generation, a privately-owned company headquartered in the United Kingdom that specializes in temporary power solutions.
Ares Closes Real Estate Fund at $1B
Century City-based Ares Management Corp. closed the Ares U.S. Real Estate Fund IX at $1.04 billion. The fund looks at value-add opportunities in multifamily, industrial and office investment properties.
Silicon Beach Report Dec. 4: Faraday Future Faces More Furloughs
Hulu plans new advertising structure; SRAX CFO leaves; Faraday Future cutting more employees
SRAX Financial Officer Departs
Downtown-based advertising technology firm Social Reality Inc. (doing business as SRAX) announced Nov. 30 its Chief Financial Officer J.P. Hannan will resign.
FatBrands Acquires Yalla Mediterranean
Fat Brands Inc. announced Dec. 4 it acquired restaurant chain Yalla Mediterranean for an undisclosed amount.
Landec Acquires Guacamole Maker Yucatan Foods for $80M
Los Angeles-based guacamole company Yucatan Foods was acquired by fresh food firm Landec Corp for $80 million in a move that bolsters the California firm’s natural foods market position.
Guardian Life Takes Stake in LEI, Name Change Planned
The Guardian Life Insurance Company of America will acquire equity interest in Los Angeles-based Lowe Enterprises Investors. LEI is currently held by Lowe Enterprises. Terms of the transaction were not disclosed.
Kaiser Permanente Launches $6M in Grants for SoCal Mental Health Agencies
Kaiser Permanente Southern California on Dec. 3 announced a $6 million initiative to bolster mental and behavioral health services throughout the region.
Silicon Beach Report Dec. 3: SpaceX Sends 64 to Space
XPrize Foundation plans awards; Overwatch League and Fanatics sign deal; Falcon 9 launches satellite payload.