October data shows dip for money managers
Market volatility giving some the jitters.
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.
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.
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.
West Hollywood-based hospitality firm the Madera Group completed a round of equity funding with a $20.85 million capital raise that will help expand three of its healthy-leaning, Mexican-themed restaurant chains throughout the United States.
Santa Monica private equity firm Sole Source Capital has acquired Individual FoodService, a Bell, Calif.-based food distributor.
Los Angeles–based global alternative asset manager Ares Management Corp. announced completion of plans to convert to a corporation as part of a move to increase trading liquidity in its stock and broaden stock ownership among institutional and retail investors.
Innovation Special Report
Fifth Wall Ventures co-founder Brendan Wallace is an advocate for new technologies and not just in his professional life as the managing partner of a venture capital firm focused on real estate technology.
Archytas Ventures, a Century City-based holding company that specializes in the cannabis industry, has led a $3 million oversubscribed round for one of its equipment companies.
B. Riley Financial Inc. has agreed to a $22.9 million deal that will give it a majority stake in New York financial services firm National Holdings Corp., the Woodland Hills company announced Monday.
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’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 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.
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.