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

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.

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.

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Heyday Begins West Coast Expansion Plan With $8M From Fifth Wall

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.

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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.

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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.

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VMG, Hillhouse Form $100M Investment Fund

Partnership will focus on consumer brands; closes Little Freddie investment

VMG Partners, a private equity firm with major offices in Century City and San Francisco, has set up a $100 million fund with Hillhouse Capital,

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Vive Organic Closes $7 Million Series A Round

Venice-based Vive Organic, makers of cold-pressed wellness shots closed a $7 million Series A round led by Powerplant Ventures, a food and beverage investment fund in Manhattan Beach.

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DreamHost Receives $18M Loan from J.P. Morgan

Downtown LA-based DreamHost, a provider of web hosting and site management, announced Oct. 30 it completed an $18 million debt financing credit facility with J.P. Morgan Chase and Co.

Century Park Capital Partners’ Portfolio Company Makes Fourth Acquisition

Covercraft Industries, a portfolio company of El Segundo-based private equity firm Century Park Capital Partners, acquired Carver Industries for an undisclosed amount, the companies recently announced.

Assembled Brands Raises $100M From Oaktree

Los Angeles-based alternative investor Oaktree Capital Management agreed to provide $100 million to Assembled Brands, a New York City-based company financing emerging consumer goods.

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Daz Nabbed in Cloud Services Growth Play

El Segundo firm purchased by Accenture to expand Oracle services

Daz-zling deal for cloud services company.

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Trade Troubles

Trans-Pacific tensions weigh on consumer confidence in L.A. County

L.A.’s consumer sentiment index drops as trade war heats up.

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End of City’s Goldsmith Era

Banking: City National CEO hands reigns to Coffey

City National CEO Russell Goldsmith to step down after 23 years.