Pritzker Group Venture Capital has expanded the number of personnel in its L.A. office in order to pursue more early-stage investments in local tech companies.
Partner Gabe Greenbaum and Vice President Peter Liu have relocated from the firm’s Chicago office to Los Angeles. The company also recently hired Nico Gimenez, who joined as an associate. Pritzker is particularly interested in investing in enterprise, consumer tech, healthcare IT software, as well as emerging technologies such artificial intelligence, internet of things, virtual reality.
“We see an opportunity to provide capital where there is a lack of Series A and series B capital,” said Greenbaum. “When you look at dollars invested into L.A. since 2010, a massive amount of the (spending) into the startup environment has come from outside the local ecosystem.”
The investment firm’s initial early stage investments generally range between $3 million to $8 million, though the company sometimes invests less than $1 million in seed-stage companies. It typically invests $15 million to $20 million over the span of its involvement with a portfolio company, but said it is willing to deploy up to $50 million into any one company.
Over the last five years, the company has invested in more than 20 L.A.-area companies, including Dollar Shave Club, Honest Company, Hello Giggles, and AwesomenessTV.
Technology reporter Garrett Reim can be reached at firstname.lastname@example.org. Follow him on Twitter @garrettreim for the latest in L.A. tech news.
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