LA FINANCE

Investor Dips Into Social Impact With Chip Buy

Venture capital firm’s deal for snack maker gives gang reform program a taste of the equity.

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Ethnic Banks Say Tech Now Speaks to Customers

Next Generation

Ethnic banks once focused on immigrant customers invest in connecting with the next generation.

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Towering Hotel May Be High Impact Downtown

HOSPITALITY: Arrival of Wilshire Grand Center could overshadow rivals’ business.

Wilshire Grand Center has no reservations about checking in to L.A.’s thriving hotel scene.

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Westwood’s Claremont Hotel Sells for $12 Million, to Get First Renovation

Westwood’s oldest hotel is slated for a makeover. The 55-room Claremont Hotel on Tiverton Avenue, built in 1940, has sold for $12.25 million to Shamina Investments, which intends to give the building its first major renovation, the new owner said Wednesday.

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Upfront Ventures Joins Jeff Skoll, Paul Allen Investing Arms in $119M Sale of TrueCar Shares

In coordination with a secondary offering of TrueCar’s shares, seven investors plan to sell 7.5 million of the company’s shares at an unannounced upcoming date, worth $118.9 million at the close of the stock market on Monday.

Brokers Invest in Videos To Help Frame Mansions

HOUSING: Partners Trust duo drew on ‘La La Land’ to pitch $8.5 million home.

Some brokers make a big production out of creating potential viral videos to showcase high-end homes.

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West’s Tallest Tower Leans Toward Major Tenant

LEASE: Government group in talks to take two floors at Wilshire Grand Center.

The 73-story Wilshire Grand Center, the tallest tower in the West, is close to signing its first major office tenant.

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Commonwealth Business Bank Reports Net Income Rise in First Quarter

Commonwealth Business Bank released its first quarter earnings report on Tuesday, showing growth in net income and diluted earnings per share.

Movers for Week Ending April 14, 2017

Biotechnology company Capricor Therapeutics Inc. was this week’s biggest mover, gaining 10 percent to end at $3.15. Carson-based U.S. Auto Parts Network, Inc. was also among the week’s biggest movers. The auto parts company gained 9 percent to end at $3.62. Culver City-based healthcare company NantHealth was this week’s biggest loser, dropping 29 percent to end at $3.86.

State Approves Tax Credits for Proterra, Hulu and 19 Other Companies in L.A. County

A state committee on Thursday approved $24 million in tax credits for 21 companies investing up to $314 million to add as many as 1,970 L.A. jobs.

Strong First Quarter For Venture Capital

Investment in period up year to year as Greycroft Partners paces local field, backing 19 companies.

Greycroft Partners, Snap’s IPO help fuel strong first quarter for venture capital.

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New Funds Put Focus on Entertainment’s Future

FINANCE: Vision, Struans see e-sports, virtual reality as means to score big returns.

Two new investment firms look to bank on the future by backing millennial-focused content creators.

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Moving Into Koreatown

DEVELOPMENT: Proximity to Westside, downtown, rail line fuels market’s attraction.

Koreatown has proved a popular middle ground between downtown and the Westside.

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Small Business Deals Up in First Quarter of 2017

First-quarter sales of small business in Los Angeles were up 4.4 percent year over year, according to numbers from BizBen released Tuesday.

Movers for Week Ending April 7, 2017

Beverly Hills-based Genius Brands International Inc. was the week’s leader, gaining 20.6 percent to close at $4.51. Furniture maker Nova Lifestyle Inc., headquartered in Commerce, was close behind, shooting up 15.7 percent to close at $1.92. The week’s biggest laggard was Ritter Pharmaceuticals Inc. in Beverly Hills, which dropped 19.7 percent to close at $1.14.