FINANCE

Recent and archived news stories on: banks, credit unions, mortgage lenders, SBA lenders, stocks/bonds, venture capital, wealth management, investment banks, factors, money managers, economic news and financial sector news

Boxwood Trades First Day on Nasdaq, Raises $200M in IPO

Santa Monica-based Boxwood Merger Corp, led by the former COO of Los Angeles-based engineering services giant Aecom, raised roughly $200 million on its first day of trading Friday.

L.A. County Unemployment Rate Held Steady at 4.6 Percent in October Despite Job Gains

L.A. County’s unemployment rate held steady at 4.6 percent in October even as the county added more than 43,000 jobs to reach a record high employment level, according to state figures released Nov. 16.

Santa Monica’s Balmoral Funds Invests in Modular Building Firm

Santa Monica private equity firm Balmoral Funds and senior managers of Vesta Modular, a provider of rentable modular buildings, purchased the ownership interests of the Birmingham, Mich.-based company’s initial investors.

Tease photo

Greycroft Partners Leads $20 Million Seed Round for Emerge

Bi-coastal venture capital firm Greycroft Partners, which has offices in the downtown Los Angeles Arts District, announced Nov. 15 it led a $20 million seed round for shipping logistics management firm Emerge, based in Scottsdale, Ariz.

Venice’s Fifth Wall Ventures Participates in Hippo $70M Funding

Hippo, a Mountain View, Calif.-based tech-enabled home insurance startup, raised $70 million from a venture capital group led by Felicis Ventures and Lennar Corp., with Venice’s fledgling venture capital firm Fifth Wall Ventures also participating.

Platinum Eagle Merges Texas Lodging and Hospitality Firms

Century City-based Platinum Eagle Acquisition Corp., which was formed by veteran Hollywood executives Jeff Sagansky and Harry Sloan last year, announced plans Nov. 14 to combine with Texas-based Target Logistics Management and Austin-based RL Signor Holdings.

Tease photo

American Construction Buys Fourth Materials Supplier

American Construction Source, created in September by Santa Monica-based private equity firms Clearlake Capital Group and Angeles Equity Partners, bought its fourth building materials supplier in less than two months.

Tease photo

ServiceTitan Secures $165M From Venture Capital Group to Expand

Glendale-based ServiceTitan Inc. has secured $165 million in funding from a venture capital group to build out its home services software firm through acquisitions and moves into new markets.

Tease photo

LA Region Loses Out in Amazon HQ Derby, But LAEDC Sees a Silver Lining

Los Angeles may have lost out on its bid for Amazon’s second headquarters, but the Los Angeles County Economic Development Corp. said there was a silver lining for the city in the tech giant’s decision: The partnerships and cooperation among the county’s many jurisdictions during the Amazon bid process should boost future business attraction and retention efforts.

Sweetgreen Closes $200 Million Series H Round

Culver City-based restaurant chain Sweetgreen announced a $200 million Series H round today, bringing the company’s valuation to more than $1 billion.

Tease photo

Influential Family-Owned Businesses in Los Angeles: MAINTEX

Custom Content by the Los Angeles Business Journal

MAINTEX has been Southern California’s leading chemical manufacturer and distributor of facility supplies and cleaning equipment for more than 55 years.

Tease photo

Heyday Begins West Coast Expansion Plan With $8M, Fifth Wall's Backing

A skincare chain in New York City with big hopes of disrupting the industry has established its first location in Southern California and plans to spread throughout region with the help of $8 million in funding from an investment group led by Venice-based Fifth Wall Ventures.

Tease photo

Cornerstone Buys Grovo Learning for $24M

Santa Monica-based Cornerstone OnDemand Inc. has acquired privately held Grovo Learning Inc., a New York City-based technology company.

Tease photo

R4 Capital Provides $60 Million for Housing Preservation in LA

Asset manager R4 Capital has arranged $17.3 million of equity and $43 million in tax exempt financing for housing preservation in Los Angeles.

L.A. Expansion CBC Priority

FINANCE: Meruelo-backed bank makes northward push

CBC Bancorp, the holding company for the newly private Commercial Bank of California, has big growth plans for Los Angeles County.

Tease photo

Prev