Fika Ventures raises $76M to fund the growing LA tech ecosystem

Fika Ventures raises $76M to fund the growing LA tech ecosystem

The Los Angeles ecosystem is $76 million stronger at the present time as Fika Ventures, a seed-stage enterprise capital company, declares its sophomore investment fund.

Fika invests roughly 1/2 of its capital exclusively in startups headquartered in LA, with a explicit fondness for B2B, enterprise and fintech corporations. The company became launched in 2017 by classic partners Eva Ho and TX Zhuo, beforehand of Susa Ventures and Karlin Ventures, respectively. The pair raised $41 million for the debut effort, opting to easily about double that number the 2nd time around as one scheme to take part in extra apply-on fundings.

Files of Fika’s 2nd effort comes as investment in LA tech continues to attain fable highs. In total, more than $60 billion became invested in LA startups in 2018. To this level this three hundred and sixty five days, corporations headquartered in the state respect attracted roughly $25 billion in equity funding, consistent with files restful by PitchBook.

“It’s peaceable the truth is underserved from a capital standpoint,” Zhuo stated of the LA space. “We feel over the next couple of years, we’ll originate to perceive repeat entrepreneurs near out of these LA corporations. The timing is ripe for a fund esteem ours to capitalize on the replacement.”

Ho, a weak classic accomplice and co-founding father of San Francisco seed fund Susa Ventures, informed TechCrunch that LA is making basically the loads of the exodus of founders and merchants from Silicon Valley: “A lot of the other folks from up north respect moved down right here for better positive of lifestyles,” she outlined.

“Silicon Valley has gotten a contaminated rap over the final couple of years so other folks switch down right here, engineers near down right here, founders near down,” Ho added. “I’ve watched the ecosystem develop over the final two a long time.”

Fika Ventures specializes in the upper B2B ecosystem, nonetheless has also supported corporations fixing social concerns within housing, training and healthcare. Ho cited an investment in WeeCare, a startup that helps individuals originate curriculum-basically based mostly home daycares within their very hold homes, as an illustration.

Further Fika portfolio corporations encompass Asian meals offer alternate Chowbus, Elementary Robotics, a developer of robot assistants, and Chatdesk, a customer toughen messaging platform.

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May 24, 2019

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