New Fund Bridges China-US, Innovation Hub Jumpstarts LA

LACI cropped

The Los Angeles startup community is strengthening with the opening of La Kretz Innovation Campus in downtown LA’s arts and innovation district. Meant to be used by entrepreneurs, engineers, tech innovators and startup services, the so-called LACI hub which combines co-working spaces, training centers, event spaces and prototype design studios, got off to a grand start in its new location in refurbished 60,000 square foot building.
Since beginning in 2011 as a cleantech incubator, LACI portfolio companies have attracted $78 million in venture capital and have generated more than $230 million in economic value for LA.
Silicon Dragon will hold a venture salon on Friday evening, October 21 at LACI.

Amino Capital in Palo Alto has raised $50 million for a second fund investing in early stage startups, focusing on those in artificial intelligence and data-related ventures. Previously known as zPark Venture, the fund which bridges the U.S. and China, also has added Dr. Huican Zhu, a pioneer of Google image search and Asian language search, as a general partner.

DCM portfolio company Analogix Semiconductor is being acquired by Beijing-based buyout fund Shanhai Capital in a large $500 million transaction. The DCM team worked closely with building up Analogix since funding the Silicon Valley and Beijing company in 2002, helping with designs, cost efficiencies and sales. The investment was led by DCM partner Peter Moran, who has served on the board of Analogix.

Venture capitalists are funding bike-sharing startups at about the same clip as they once funded ride-hailing apps. Several Chinese startups in this new sector – among them Mobike, ofo and YouBai – have raised substantial sums amounting to $100 million in just the past few months. The venture firms include Sequoia Capital, Hillhouse Capital as well as ride-sharing leader Didi Chuxing.