Last month an announcement was made by 3L Capital (an equity investment company) concerning the $217 million equity fund it had raised in order to continue its investments into local firms seeking growth. The firm – based in Westwood – will be putting the monies raised toward companies looking for a Series B/later investments.
Investments in the past have been made in Wheels Lab Inc. – an e-bike operator in West Holywood; The Young Turks, a Carthay LA neighborhood online talkshow and Culver City retailer SnackNation.
3L was founded roughly two years ago by Shawn Colo, former chief executive for Demand Media; Kerry Kellogg; and Dave Leyrer, founder of Boulevard Capital Management. Its previous investments include West Hollywood-based e-bike operator Wheels Labs Inc.; Carthay-based online talk show The Young Turks; and SnackNation, a Culver City-based snack retailer.