3L Capital gains $217 million; SpaceX Starlink rivaled by Amazon; BBC invests in Quibi

3L Capital Nets $217 Million

Westwood-based venture capital firm 3L Capital announced July 8 it raised a $217 million equity fund to continue investing in local companies seeking capital to grow. The firm wouldn't disclose the round’s participants, but a spokeswoman said it plans to use the money to invest in “companies that are either seeking a Series B or later rounds,” regardless of industry.

Amazon Files for Satellite Network to Rival SpaceX

Engadget reports Amazon.com Inc. appears to be planning to launch thousands of satellites into orbit as part of a plan to provide worldwide internet. SpaceX’s version of this, called Starlink, is already underway -- the Hawthorne-based company launched 60 satellites in May 2019, the first installment in a constellation of more than 12,000.

BBC Studios Invests in Quibi

Jeffrey Katzenberg and Meg Whitman’s short-form video outfit Quibi, based in Hollywood, gained a new investor in BBC Studios, according to Variety. BBC Studios confirmed the deal but would not disclose how much it invested in Quibi. BBC will also produce a nature show for Quibi about female animals once Quibi launches in April 2020.

Tech reporter Samson Amore can be reached at samore@labusinessjournal.com or (323) 556-8335. Follow him on Twitter @samsonamore.

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