*socaltech.com <http://socaltech.com> TechNews - Tuesday, July 7, 2020* Edited by Benjamin F. Kuo ISSN: 1524-6736 http://www.socaltech.com/News <https://www.socaltech.com/News> ------------------------------
*Sponsored By * Pacific Western Bank, Venture Banking Group (http://www.pacwest.com/lending-solutions/venture-lending) Stubbs Alderton Markiles, LLP (http://www.stubbsalderton.com). Business. Technology. Law. Vision. KPMG (http://home.kpmg/us/en/home/about/offices/los-angeles-1.html) Level up with KPMG ------------------------------ *Headlines * - Vantage Data Centers Gets Backing From Colony Capital <#0080055> - Grow Credit Adds New Investor <#0080054> - MaxLinear Raises Guidance, Benefits From Work From Home <#0080057> - Kayne Anderson Expands Renewable Investments <#0080056> - Southern California's Tech Firms Not Shy To Take PPP Loans <#0080053> - Report: Bird Received PPP Loan, Laid Off Employees; Bird Disagrees <#0080052> - Elon Musk Taunts SEC <#0080051> - Insights: Personal Liability Risks of Directors of Financially Stressed Start-Up <#0080046> *Marketplace* - Rucksack: Build an unstoppable team <#ad766> - From Idea to IPO - KPMG’s Emerging Growth Practice <#ad760> - Bestronics - Electronic Engineering Services, SOMs, Imaging Products, Displays & Batteries <#ad752> - UK Government's Department for International Trade (DIT) <#ad756> - Pacific Western Bank, Venture Banking Group <#ad749> - Pixelgate.net - Internet Access, Web Hosting, Network Services <#ad188> *Tuesday, July 7, 2020* *Accelerating Growth For Early Stage Innovation. <http://www.preccelerator.com>* The Preccelerator® Program is an accelerator for early-stage startups offered to select companies out of the Santa Monica office of Stubbs Alderton & Markiles, LLP that provides initial capital, sophisticated legal services, interim office space, mentorship, a targeted curriculum, investment strategy counseling and access to a strategic perks portfolio with the objective of helping you grow your idea from business concept to funded startup. www.preccelerator.com *Vantage Data Centers Gets Backing From Colony Capital* <https://www.socaltech.com/fullstory/0080055.html> Datacenter operator Vantage Data Centers is getting the backing from Los Angeles private equity investor Colony Capital, which the two said is worth $3.5 billion, to accelerate the expansion of Vantage's wholesale data centers through North America and Europe. According to the two companies, Colony's investor group will invest $1.2 billion in Vantage's portfolio of North American data centers, which includes 1. (More... <https://www.socaltech.com/fullstory/0080055.html>) *Grow Credit Adds New Investor* <https://www.socaltech.com/fullstory/0080054.html> Santa Monica-based Grow Credit, a fintech startup which provides small dollar loans and helps consumers establish their credit record through paying for online subscriptions, says it has added a new investor, Commerce Ventures. According to Grow Credit, Commerce Ventures will join its seed funding round alongside lead investor Mucker Capital, as well as Minal Hasan, founder of K2 Global Ventures. Size of the investment was not announced. (More... <https://www.socaltech.com/fullstory/0080054.html>) *MaxLinear Raises Guidance, Benefits From Work From Home* <https://www.socaltech.com/fullstory/0080057.html> Carlsbad-based radio frequency and analog and mixed signal circuits developer MaxLinear says it is raising its guidance for its second quarter, saying it is seeing strength in the broadband sector, as well as recovery in the analog sector. The company, which had originally provided revenue guidance for the quarter of between $60M to $64M, said it now expects preliminary total revenue of approximately $65M to $65.5M. (More... <https://www.socaltech.com/fullstory/0080057.html>) *Kayne Anderson Expands Renewable Investments* <https://www.socaltech.com/fullstory/0080056.html> Los Angeles-based private equity investor Kayne Anderson Capital Advisors LP is ramping up its investments in renewables, saying today that it has made a number of solar investments, and has named co-heads of renewable investment for the company. (More... <https://www.socaltech.com/fullstory/0080056.html>) *Southern California's Tech Firms Not Shy To Take PPP Loans* <https://www.socaltech.com/fullstory/0080053.html> A very long list of Southern California's high tech companies are on the list of companies who have taken advantage of the Paycheck Protection Program (PPP) put into place by the United States, in an attempt to stem job losses from the ongoing pandemic. The data--released by the SBA this week--shows that among the companies receiving millions via the PP were Bird, DataDirect Networks, Edmunds. (More... <https://www.socaltech.com/fullstory/0080053.html>) *Report: Bird Received PPP Loan, Laid Off Employees; Bird Disagrees* <https://www.socaltech.com/fullstory/0080052.html> Santa Monica-based on-demand scooter company Bird received a PPP bailout loan worth at least $5 million, according to a report, but laid off nearly 400 employees anyway. According to The Verge, the loan came in late April, when Bird said the loan would help it retain 341 jobs. According to the report, Bird claims it was "erroneously listed" in the list of companies put out by the Treasury Department today. (More... <https://www.socaltech.com/fullstory/0080052.html>) *Elon Musk Taunts SEC* <https://www.socaltech.com/fullstory/0080051.html> Elon Musk, the CEO of Hawthorne-based SpaceX, as well as the CEO of Tesla, is taunting the Securities and Exchange Commission (SEC) again, posting on Twitter last week a thinly veiled insult at the SEC. Musk's antagonism is only the latest in the tech mogul's long history with the SEC, which included a $40M penalty and security fraud settlement in September of 2018. Musk tweeted: "SEC, three letter acronym, middle word is Elon’s" or, as one commenter put it, "S*** Elon's C****". (More... <https://www.socaltech.com/fullstory/0080051.html>) *Insights: Personal Liability Risks of Directors of Financially Stressed Start-Up* <https://www.socaltech.com/fullstory/0080046.html> For today's Insights and Opinions section, we have an article on Navigating Turbulent Business Seas: Personal Liability Risks of Directors of Financially Stressed Start-Ups from Michael Sherman, Neil Elan and Karine Akopchikyan at Stubbs, Alderton, and Markiles LLP (www.stubbsalderton.com). The halcyon days of start-up companies and the venture community attraction to them hit a hard stop as the COVID-19 lock down spread across the U.S. earlier this year. (More... <https://www.socaltech.com/fullstory/0080046.html>) *Rucksack: Build an unstoppable team <https://rucksack.collective-genius.com/>* Build an unstoppable team by gaining access to over twenty years of best practices and tools from venture backed CEO's, founders, and investors in one online platform. Subscribe to Rucksack and get the entire Peak Planning and Tools System. Over 50 organized assets, videos, and printable resources. Including Peak Annual and Quarterly Guided Planning session videos and resources to build your Three Year Vision, One Year Plan, Quarterly OKRs, KPIs, Metrics Dashboard, Core Values, Mission Statement, Weekly Camp Meetings, additional tools and resources. https://rucksack.collective-genius.com/ *From Idea to IPO - KPMG’s Emerging Growth Practice < [email protected]>* KPMG provides Bookkeeping, Audit, Tax, and Advisory services to assist you at any stage of your life cycle. Whether you are starting your business, strengthening your business, expanding into new markets, or pursuing an exit, we have a global network of experienced resources that can take you to the next level. For more information, please contact Ryan Youhan at [email protected]. *Bestronics - Electronic Engineering Services, SOMs, Imaging Products, Displays & Batteries <https://www.bestronics.com>* Are the great ideas stacking up faster than your engineering resources can handle? Your company needs a reliable resource of analog/digital and software engineers to understand your issues, define the problem statements and lay out a course of action to output hardware products ready for integration into your system. Our unique capabilities, used by many in the medical, scientific, military and aerospace industries, allow us to offer engineering services that result in deliverable, production ready subsystems so you can concentrate on targeting your customer base and not stressing about the right mix and numbers of engineering talent needed to see your vision become reality. Contact us at http://www.bestronics.com *UK Government's Department for International Trade (DIT) <https://www.events.great.gov.uk/ehome/200195057>* The UK is one of the world's fastest-growing tech hubs with more than 60,000 tech companies, 30 industry clusters, and over $14 billion in investment over the last five years. The UK Government's Department for International Trade (DIT) team provides local 1:1 support to companies expanding internationally, helping de-risk market entry with free support services. DIT can provide tailored set-up information, including market research, legal and accounting introductions, recruitment support, policy insight, and partnership-building opportunities. As the #1 destination in Europe for inward investment and tech talent, and home to more fast-growth companies than any other European country, the UK has a lot to offer to US companies. We work with all companies, from start-ups/scale-ups through to the Fortune 500. To find out more about "Why UK," and to work with DIT's LA team, contact us at: https://www.events.great.gov.uk/ehome/200195057 *Pacific Western Bank, Venture Banking Group <http://www.pacwest.com/lending-solutions/venture-lending>* Pacific Western Bank is a commercial bank with over $26 billion in assets and 76 branches primarily located in California, with one in Denver, Colorado and another in Durham, North Carolina. Our Venture Banking Group offers a comprehensive suite of financial services focused on entrepreneurial businesses and their venture capital and private equity investors. We also offer Community Banking and National Lending services. For more information about the Venture Banking Group, visit www.pacwest.com/lending-solutions/venture-lending, or send an email to Brian Weber at [email protected] *Pixelgate.net - Internet Access, Web Hosting, Network Services <http://www.pixelgate.net>* We put the "Service" back into Internet Service Provider. http://www.pixelgate.net ------------------------------ *Recent Funding <#funding>* 6/25/20 Treehouse Games <https://www.socaltech.com/intelligence/?action=showdeal&id=100533> Los Angeles $2.60 M 6/25/20 Clickup <https://www.socaltech.com/intelligence/?action=showdeal&id=100534> San Diego $35.00 M 6/24/20 Pipe <https://www.socaltech.com/intelligence/?action=showdeal&id=100532> Los Angeles $60.00 M 6/23/20 Scalefast <https://www.socaltech.com/intelligence/?action=showdeal&id=100510> Manhattan Beach $21.58 M 6/17/20 DroneBase, Inc. <https://www.socaltech.com/intelligence/?action=showdeal&id=100472> Los Angeles $7.50 M 6/16/20 UNEST <https://www.socaltech.com/intelligence/?action=showdeal&id=100471> Hollywood $9.00 M 6/03/20 TAE Life Sciences <https://www.socaltech.com/intelligence/?action=showdeal&id=100255> Foothill Ranch $30.00 M 5/26/20 Apeel Sciences <https://www.socaltech.com/intelligence/?action=showdeal&id=100217> Goleta $250.00 M 5/21/20 Aspiration <https://www.socaltech.com/intelligence/?action=showdeal&id=100213> Marina Del Rey $135.00 M 5/19/20 Amplyx Pharmaceuticals <https://www.socaltech.com/intelligence/?action=showdeal&id=100104> San Diego $53.00 M 5/19/20 ChromaCode, Inc. <https://www.socaltech.com/intelligence/?action=showdeal&id=100103> Carlsbad $10.00 M 5/14/20 Prodoscore <https://www.socaltech.com/intelligence/?action=showdeal&id=100102> Irvine $0.00 M 5/13/20 Upkeep <https://www.socaltech.com/intelligence/?action=showdeal&id=100100> Los Angeles $36.00 M 5/06/20 BURST Oral Care <https://www.socaltech.com/intelligence/?action=showdeal&id=100010> Walnut $0.00 M ------------------------------ *Upcoming Events* Submit your events at least two weeks in advance to: http://www.socaltech.com/submitevent.html July 9, Irvine -- *TCVN Fireside Chat with Sean Ellis: Growth Hacking in a Post Covid-19 World* Growth Hacking In A Post COVID-19 World. TCVN. Join Tech Coast Venture Network in welcoming Sean Ellis, founder of Qualaroo and the mastermind behind the Dropbox’s viral growth strategy. Sean will chat with Michael Sawitz about his thoughts on growth hacking in a post Covid-19 world and how his insights can be used to benefit your business. See http://www.socaltech.com/calendar/eventid/26630 ------------------------------ *Recent Job Postings * More jobs at http://www.socaltech.com/Jobs ------------------------------ ------------------------------ *Sponsored By * Stubbs Alderton Markiles, LLP (http://www.stubbsalderton.com). Business. Technology. Law. Vision. KPMG (http://home.kpmg/us/en/home/about/offices/los-angeles-1.html) Level up with KPMG Email [email protected] for more information about sponsoring this newsletter. ------------------------------ You are receiving this email because you subscribed to the socalTECH.com TechNews from our web site, or otherwise requested a subscription. If you do not want to receive this newsletter go to: http://listserv.socaltech.com/mailman/listinfo/socaltech or email us at [email protected] ------------------------------ Legal Notices ---- While SOCALTECH LLC has used its best efforts in collecting and preparing the information published herein, SOCALTECH LLC does not assume, and hereby disclaims, any liability for any loss or damage caused by errors or omissions, whether such errors or omissions resulted from negligence, accident or other causes. All contents Copyright (c) 2017 SOCALTECH LLC. All rights reserved. socalTECH.com - Dedicated to High Tech in Southern California http://www.socaltech.com/ SOCALTECH LLC 4607 Lakeview Canyon Road, Suite 290, Westlake Village, CA 91361
_______________________________________________ Socaltech mailing list [email protected] http://listserv.socaltech.com/mailman/listinfo/socaltech
