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Recent and archived news stories on: Banks, Credit Unions, Mortgage Lending, SBA, Stocks/Bonds, Venture Capital, Wealth Management...

SEC Qualifies Fatburger’s $24 Million Initial Public Offering

The U.S. Securities and Exchange Commission has given the go-ahead to the $24 million initial public offering planned by Fatburger’s parent company, paving the way for the company to begin trading on the Nasdaq later this month.

Samsung Eyes Content, Leads $8.3 Million Round for Pluto TV

Pluto TV, a free internet television service, has raised another $8.3 million in a round led by Samsung Venture Investment Corp., the venture capital arm of Samsung Group.

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Pomona Partnership Submits Bid for Amazon Second HQ

A Pomona-area partnership announced Monday it had submitted a bid for Amazon’s second headquarters that would center around the Fairplex and Cal Poly Pomona campuses.

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E-Sports Ad Tech Firm VY Esports Raises Seed Round

Ad tech startup VY Esports of Santa Monica announced it had raised an undisclosed seed round led by Raine Ventures, with participation from Courtside Ventures, Elysian Park Ventures and other investors.

Pontifax AgTech Management Closes $105 Million Investment Fund

A Santa-Monica based agricultural investment firm backed by some of L.A.’s wealthiest individuals has closed its first fund with $105 million in commitments, the company announced Wednesday.

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Andelman and Mullen, VC Vets, Announce New Venture

Two veteran L.A. venture capitalists have formed Bonfire Ventures, a Brentwood VC firm focused on software for businesses.

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Herbalife Closes $600 million Stock Buyback

Herbalife Ltd. said Friday it had closed its $600 million stock buyback. The announcement, coupled with the anticipation of further buybacks, sent shares up by 10 percent in early trading.

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Opportunity Funds Expands Lending Program Statewide

Opportunity Fund, a nonprofit lender for small businesses, has expanded its pilot Community Partner Program from the Los Angeles region to include San Diego, the Central Valley and Northern California.

CBRE Agrees to Acquire Atlanta Design, Engineering Firm

CBRE Group Inc. said it had agreed to acquire Heery International Inc., an Atlanta-based project management, design and engineering company, for $57 million.

Los Angeles Pet Device Firm Draws $3.7 Million Investment

Petnet Inc., a privately held Los Angeles company that sells automatic pet feeders for cats and dogs, has received a $3.75 million cash infusion, according to an SEC filing.

Morgan Stanley to Acquire Mesa West Capital

Morgan Stanley Investment Management Inc. of New York announced it has entered into an agreement to acquire Brentwood-based real estate investment lending firm Mesa West Capital.

Report: Job Growth Slowed in Los Angeles Last Year

Los Angeles had 1.39 million jobs during the third quarter of 2016, up 0.7 percent from the same period in 2015, a much smaller increase than the 2.3 percent jump in jobs between 2014 and 2015, according to a Beacon Economics study.

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Financial Partners Credit Union Acquires Star Harbor Federal Credit Union

Financial Partners Credit Union of Downey has acquired Star Harbor Federal Credit Union of Rancho Dominguez, the credit unions announced Monday.

Deals & Dealmakers: Ad Tech Firm Nets $270 Million

Court Square financing gives System1 funds to add staff and develop products.

Silicon Beach continues to be a hot spot for deals, with Venice ad tech firm System1 announcing last week the completion of a $270 million financing round led by New York-based Court Square Capital Partners.

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Movers for Week Ending September 22, 2017

El Segundo-based technology manufacturer Aerojet Rocketdyne Holdings Inc. was this week’s biggest mover, gaining 19.63 percent to end at $33.89. Beverly Hills-based Live Nation Entertainment was also among this week’s biggest movers. The entertainment company gained 3.35 percent to end at $43.50. Venice-based technology and social media company Snap Inc. was this week’s biggest loser, dropping 10.16 percent to end at $13.70.

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