FINANCE

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

Diversis Reaches Milestone $1 Billion Assets Under Management

Diversis Capital Management completed a raise of $675 million to continue its investment objectives in software and technology businesses.

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Fika Ventures Raises $195 Million for Tech Investments

Westwood-based Fika Ventures has raised $195 million for two funds aimed at seed investing in software, fintech, marketplaces and health care information technology.

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Wall Street Embraces LA Companies Shaking Up the Financial System

Local fintech companies are moving payments and conducting financial transactions at lightning-fast speeds.

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Jason Wilk on Launching Fintech Dave Inc.

The LABJ Interview

Jason Wilk, co-founder of banking app developer Dave Inc., understands what it’s like to make sacrifices to form a startup business.

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LA County Unemployment Rate Drops to 10.1%

But the county still has a long way to go to reach pre-pandemic payroll job levels.

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Corridor Capital Buys Health Care Marketing Firm

A portfolio company of Sawtelle-based Corridor Capital has acquired a health care marketing services business.

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Levine Leichtman Buys Walden Behavioral Care

With its purchase of Walden, Levine Leichtman seems to have reversed a trend of selling businesses.

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Wavemaker 360 Sells Portfolio Company Ciitizen in $325 Million Deal

Wavemaker Three-Sixty Health, a Pasadena-based health care venture capital investor, has exited its portfolio company Ciitizen Corp., a patient-centric consumer health tech company.

Butterfly Equity Buys Avocado Oil-Maker

The private equity firm agreed to buy a majority stake in Chosen Foods, a maker of avocado-based oil and staple foods.

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Tri Counties Bank Opens Loan Office in Pasadena

The bank aims to turn the office into a major lending center for commercial real estate loans.

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Ares Charges Ahead With Plans to Reach $500 Billion in AUM

Ares’ huge surge in growth by more than $100 billion from June 2020 through June 30 is unusual for an alternative asset manager.

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EP Wealth Advisors Buys California Firm

The move takes EP Wealth, which has $12.9 billion in assets under management, one step closer to becoming a national firm.

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Sierra Investments Hires Former TD Ameritrade Exec as First CEO

Skip Schweiss will watch over the company’s fast-paced growth.

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Wealthiest Angelenos: Financial Players Get a Boost From Sector’s Gains

This year’s list features 16 billionaires with ties to the financial sector: “It’s a classic case of (those with) money making money."

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Wealthiest Angelenos: LA’s Top 50 Billionaires Hold ‘Massive’ Net Worth

The overall net worth of L.A.’s richest men and women stands at a staggering $250 billion.

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