Stories by James
Internet services firm J2 Global Inc. has hit back at a short seller report that drove its stock down 9%.
Private equity fund will pursue opportunities during Covid-19 downturn
Century City-based asset manager Ares Management Corp. has closed a $3.5 billion private equity fund.
Company will use funds for SaaS platform
Hollywood-based Pipe Technologies Inc. has raised $60 million in an extension of its February seed round.
Clearlake Capital Group has acquired a majority stake in WhiteStar Asset Management.
Outer attracts investment from Mucker, Wavemaker
Santa Monica-based outdoor furniture startup Outer Inc. has raised $4.3 million in seed funding. The investment round was led by Santa Monica-headquartered Mucker Capital, with participation from a range of other venture investors including Santa Monica-based Wavemaker Partners.
Kleiner Perkins, Upfront back data security startup
Data security startup Open Raven Inc. has raised $15 million in Series A funding. The round was led by storied Menlo Park venture firm Kleiner Perkins with participation from existing backer Santa Monica-based Upfront Ventures.
Pandemic boosts usage in food, beauty sectors
At many Los Angeles businesses, cash has become a casualty of Covid-19.
Economic uncertainty raises the prospect of an increase in going concern filings
Covid-19 has brought one of the greatest periods of market uncertainty in decades. The answers to major questions like when lockdown restrictions will be fully lifted, when customer demand will rebound and the extent to which the virus will ultimately affect the economy are simply unknowable.
PE firm acquires cleaning products company
Architect Equity, a private equity firm based in El Segundo, has acquired consumer products company Faultless Brands.
Consumer spending patterns in LA reveal impact of pandemic
Consumer spending is the backbone of the American economy, making up roughly 68% of U.S. gross domestic product. That sector has been upended by the Covid-19 pandemic.
"We do a ton to reinvest in our community by supplying things like computer equipment to schools across the country."
"Our goal was just to help as many students as possible build their credit."
"There is an incredible opportunity presented when you’re underestimated — to outperform and surprise."
Virtual concert startup Wave has raised $30 million in a Series B funding round with participants including Scooter Braun.
LA’s highest paid executives represent a broad range of industries
The Business Journal’s annual executive compensation list reflects that diversity of industries, with the top paid leaders of the county’s public companies spread across sectors ranging from aerospace to footwear.
Retailers and restaurants hope for changes to program
In the three months since its launch, the Small Business Administration’s Paycheck Protection Program has faced many obstacles, from bottlenecks in the application pipeline to general lack of clarity on loan terms.
Pandemic-proof Ecuadorian company receives investment
Manhattan Beach-based Trilinc Global has cleared a $3.25 million loan to a Latin American sustainable packaging company.
Millennial-focused Stackin provides advice by texts
Venice-based Stackin Inc. has raised $12.6 million in a Series B funding round. The investment was led by European venture giant Octopus Ventures.
Trilinc makes the most of socially conscious investing
Last year saw record levels for socially conscious investing, with sustainable fund assets reaching $960 billion globally in 2019 — the highest ever.
Pays $20 million to leave LAFC stadium deal
Just over two years into its 15-year stadium naming deal with Los Angeles Football Club, Banc of California has announced it is dialing back the partnership.
Aurora Capital acquires FMG Suite
Manhattan Beach-based private equity firm K1 Investment Management has sold FMG Suite to Aurora Capital Partners, a private equity firm headquartered in Westwood.
Century City-based Ares Management Corp. has been charged with compliance failures by the Securities and Exchange Commission.
Local institutions likely to play a key part in economic recovery
Banks, like a majority of other industries, will not thrive in the Covid-19 downturn. But they are one of the sectors best positioned to survive.
Local leaders push back on complaints about funds
The federal Paycheck Protection Program has served as a lifeline for struggling companies, but it has also prompted concerns over access to capital.
Firm invests in properties with health care tenants
Pasadena-based real estate investment firm ExchangeRight is carving out steady returns despite the pandemic-driven downturn.
Graphene battery-maker raises $28 million for production
Brentwood-based Nanotech Energy Co. has raised $27.5 million to ramp up production of its graphene-based products.
Manhattan Beach-based private equity firm K1 Investment Management has sold FMG Suite to another local private equity firm.
Eric Manlunas’ unique approach to venture capital is paying off
Eric Manlunas is the founder of one of Silicon Beach’s most unusual venture capital funds, Wavemaker Partners.
After a fast start in 2020, VC activity has slowed dramatically
Los Angeles venture capital dealmaking got off to a strong start this year, but the Covid-19 downturn dealt blows to VC-backed companies and investors alike.
Firm’s portfolio companies contribute on many fronts
Santa Monica-based Angeles Equity Partners is working to help its portfolio companies retool for the fight against the Covid-19 pandemic.
Cybersecurity company sees new opportunities
Cybersecurity firm Orca Security Ltd. has received $20.5 million in venture capital investment to build out its team and market its platform.
Cautious lenders sense opportunities
Economic uncertainty is changing lending practices, but that doesn’t mean there isn’t financing available for commercial real estate in Los Angeles.
Firm reports record management fees
Century City-based asset manager Ares Management Corp. reported a net loss of $31 million, or 33 cents per share, in its first-quarter earnings.
First-quarter earnings reports reflect steep increases in loan loss provisions
Local banks have yet to feel the financial squeeze the coronavirus pandemic has put on other industries, but they're preparing for it.
Media company pays $80M in big retail play
Venice-based Hightimes Holdings Corp. has made a major play in the retail cannabis market with the purchase of 13 dispensary locations across California.
Subscriptions, streaming lift music giant’s earnings
Santa Monica-based Universal Music Group reported a strong financial performance for the first three months of this year, appearing to be largely unscathed by the effects of the coronavirus pandemic.
Second round puts focus on needs of smaller firms
Local lenders are gearing up for the next round of the Paycheck Protection Program.
Venture firm expecting to raise up to $100 million
Health care venture firm Wavemaker Three-Sixty Health is stepping up the timeline for its latest fund in response to what it calls a pandemic-driven “surge in demand for all things health care innovation.”
Costs piling up as applicants await licenses
At 10 a.m. on Sept. 3, more than 200 people signed into an online application for L.A.’s latest round of cannabis business licenses.
Water company will use $20M plan for deals, debt
Downtown-based water treatment company OriginClear Inc. has received the green light from regulators for its sale of roughly $20 million in preferred stock.
Music payment platform provides advance funds
Many Los Angeles musicians and talent managers have had their finances upended by the coronavirus lockdown. Some are stepping up requests for advances on future revenue, which they can do through Stem's platform.
Platform reports traffic boost from lockdown
Pray is among a fortunate handful of companies whose businesses have actually benefited from the statewide shutdown. The platform's monthly active users grew 50% from February to March.
Private equity firms ready for the worst, look for the best during the market’s downturn
Private equity firms have been forced to rethink their strategies nearly overnight, searching for ways to survive — and thrive — amid the current market's uncertainty.
Bank also plans $2 million donation
Downtown-based City National Bank has joined a host of global financial institutions in promising to avoid layoffs in the face of the coronavirus crisis.
Some contend coronavirus could drive up defaults
Ahead of passage of the federal government’s coronavirus rescue package last week, uncertainty roiled the commercial mortgage market.
Financial technology veteran will also join the board
Pasadena-based Green Dot Corp. has named Dan Henry chief executive and president.
Activist Blackwells agrees to support Barrack’s vision
Downtown-based real estate investment company Colony Capital Inc. and activist investor Blackwells Capital have reached a settlement.
Coronavirus transforms how LA works
Almost overnight, the coronavirus has transformed the way Angelenos work. For many in the VC space, though, keeping up “business as usual” has been relatively straightforward.
Menai and CTBC have a unique view of the region’s challenges — and opportunities
As the U.S. head of one of Taiwan’s largest banks, Noor Menai has unique insight into the local economic impact of major events like the trade war and the coronavirus outbreak.
Company finds success as ‘Apple of audit software’
Auditboard Inc. has quietly built one of the country’s fastest-growing businesses in a sector famously unwilling to move fast and break things.