Venture capital firms: L.A. and Orange county-based, ranked by capital under management.EXECUTIVE SUMMARY AIG AIG addressee indicator group (US DoD) AIG American International Group, Inc AiG Answers in Genesis (religious group in defense of Scripture) AIG Artificial Intelligence Group AIG Australian Industry Group SunAmerica Ventures tops the venture capital list, with $750 million under management, followed closely by Rustic Canyon canyon Very narrow, deep valley cut by a river through resistant rock and having steep, almost vertical sides. Canyons occur most often in arid or semiarid regions. Some canyons (e.g., the Grand Canyon) are spectacular natural features. See also submarine canyon. Partners with $720 million. Rustic Canyon Partners added close to $200 million to its capital under management over the past year, with its third fund a Small Business Investment Companies fund. The Santa Monica-based firm focuses on information technology. The Business Journal's venture capital list has been restructured to include only firms headquartered in Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. and Orange counties. Those that have offices here but are headquartered elsewhere were excluded. The firms are ranked by capital under management companywide. No. 3 GRP GRP Group GRP Group (file name extension) GRP Glass Reinforced Plastic GRP Gastrin-Releasing Peptide (biology) GRP Gross Rating Point (advertising) Partners, which has $650 million in capital under management, invested $46 million in venture capital last year. Managing Partner Steven Ste´ven n. 1. Voice; speech; language. Ye have as merry a steven As any angel hath that is in heaven. - Chaucer. 2. An outcry; a loud call; a clamor. To set steven to make an appointment. Lebow anticipates topping that figure in 2004. One-fifth of GRP's investments last year went to companies in L.A. and Orange Counties. Overall, the 20 largest venture capital firms Name Location Founding date Managing Partners/Directors Specialty Capital managed 5AM Ventures Menlo Park, CA; Waltham, MA 2002 John Diekman, PhD (managing partner), Scott Rocklage, PhD (managing partner), Andrew Schwab (managing partner) life sciences $200M [1] had $4.8 billion in capital under management. --Nicole Taylor Taylor, city (1990 pop. 70,811), Wayne co., SE Mich., a suburb of Detroit adjacent to Dearborn; founded 1847 as a township, inc. as a city 1968. A small rural village until World War II, it developed significantly in the second half of the 20th cent. THE TRENDS Still Declining Los Angeles County and Southern venture investments. [GRAPHIC OMITTED] Telecoms Leads Fourth quarter 2003 venture capital investments in Los Angeles County. [GRAPHIC OMITTED] THE PACESETTER AIG SunAmerica Ventures FORMED in 1997, the venture capital unit of AIG SunAmerica, with $750 million under management, was established to give its asset-rich parent a presence in the venture capital market during the investment boom in the 1990s. The operation is part of a $4 billion fund of alternative investments at AIG SunAmerica. AIG SunAmerica Ventures concentrates on early- to middle-stage deals. Nearly all the activity is in information technology, although there are some life sciences investments, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Troy Troy, ancient city, Asian Turkey Troy, ancient city made famous by Homer's account of the Trojan War. It is also called Ilion or, in Latin, Ilium. Its site is almost universally accepted as the mound now named Hissarlik, in Asian Turkey, c.4 mi (6. Fukumoto, managing director. "We started out in semiconductors and progressed to software and the Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the ," he said. The most recent activity was in January January: see month. with biopharmaceutical company XenoPort Inc., which AIG SunAmerica funded in a Series C, pre-IPO pre-IPO An offering of a company's shares prior to the firm's initial public offering. Investing in a pre-IPO tends to be very risky, in part because the planned IPO may never take place. round. The company saw little activity in the two previous years. "2000 was the peak of the Nasdaq and a lot of VCs spent a couple of years after that performing triage triage Division of patients for priority of care, usually into three categories: those who will not survive even with treatment; those who will survive without treatment; and those whose survival depends on treatment. on their portfolio," said Fukumoto. "We were looking at companies and business plans and restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). our portfolio." Now, he said, company valuations have stabilized sta·bi·lize v. sta·bi·lized, sta·bi·liz·ing, sta·bi·liz·es v.tr. 1. To make stable or steadfast. 2. and there are better terms for capital raising in the market. With its portfolio gaining momentum, AIG SunAmerica Ventures is looking to invest in the digital home and consumer electronics area. --Nicole Taylor
Rank Firm (Ranking in 2003) Capital Project Profile
* name (millions) * minimum
* address * total size (1)
capital * preferred
size (1)
* number
invested in (2)
1 AIG SunAmerica Ventures $750 $0.1
1 SunAmerica Center, $2-3
38th Floor 30+
Los Angeles 90067
2 Rustic Canyon Partners 720 2
2425 Olympic Blvd., 3-5
Suite 6050 West 51
Santa Monica 90404
3 GRP Partners 650 2
2121 Avenue of the Stars, 5-15
Suite 1630 53
Los Angeles 90067
4 Clearstone Venture Partners 450 1
1351 Fourth St., 1-5
Fourth Floor 60
Santa Monica 90401
5 Kline Hawkes & Co. 300 2
11726 San Vicente Blvd., 6
Suite 300 31
Los Angeles 90049
6 Palomar Ventures 300 0.3
100 Wilshire Blvd., 3-5
Suite 450 27
Santa Monica 90401
7 Pacific Venture Group 210 1
16830 Ventura Blvd., 3
Suite 244 42
Encino 91436
8 Forrest Binkley & Brown 210 2
19900 MacArthur Blvd., 5
Suite 570 WND
Irvine 92612
9 Smart Technology Ventures 200 1
1801 Century Park West, 5-7
Fifth Floor 17
Los Angeles 90067
10 InnoCal Venture Capital 175 1
600 Anton Blvd., Suite 1270 3
Costa Mesa 92626 34
11 E*Capital Corp. 150 1
1000 Wilshire Blvd., 3-7
Suite 830 15
Los Angeles 90017
12 Anthem Venture Partners 100 0.5
225 Arizona Ave., Suite 200 2-4
Santa Monica 90401 15
13 Evercore Ventures 100 1
11111 Santa Monica Blvd., 1-3
Suite 1500 10
Los Angeles 90025
14 GKM Ventures 100 2
11150 Santa Monica Blvd., 3
Suite 825 7
Los Angeles 90025
15 Stone Canyon Venture 84 1.5-2
Partners LP (3) 3
301 N. Canon Drive, 4
Suite 302
Beverly Hills 90210
16 Miramar Venture Partners $81 $0.5
2101 E. Coast Highway, $1-3
Suite 300 5
Corona del Mar 92625
17 Coastview Capital LLC 73 1
11111 Santa Monica Blvd., 1-5
Suite 1850 4
Los Angeles 90025
18 Centre Palisades Ventures 70 2.5
11766 Wilshire Blvd., 3-7
Suite 890 4
Los Angeles 90025
19 California Technology 50 0.5
Ventures LLC 1-2
1111 S. Arroyo Parkway, 16
Suite 220
Pasadena 91105
20 Funk Ventures 50 0.5
22048 Sherman Way, 0.5-5
Suite 304 6
Canoga Park 91303
Rank Firm (Ranking in 2003) Preferred Industries
* name (partial list)
* address
1 AIG SunAmerica Ventures wireless, semiconductors for
1 SunAmerica Center, consumer electronics,
38th Floor infrastructure software,
Los Angeles 90067 security software
2 Rustic Canyon Partners software, semiconductors, services
2425 Olympic Blvd.,
Suite 6050 West
Santa Monica 90404
3 GRP Partners financial services and technology,
2121 Avenue of the Stars, retail technology, business and
Suite 1630 consumer services, outsourced
Los Angeles 90067 business services
4 Clearstone Venture Partners enterprise software and
1351 Fourth St., infrastructure, communications,
Fourth Floor Internet and business services
Santa Monica 90401
5 Kline Hawkes & Co. business process outsourcing,
11726 San Vicente Blvd., technology, telecommunications,
Suite 300 manufacturing, distribution
Los Angeles 90049
6 Palomar Ventures information technology
100 Wilshire Blvd.,
Suite 450
Santa Monica 90401
7 Pacific Venture Group health care services, biotechnology,
16830 Ventura Blvd., medical devices, health care
Suite 244 information technology
Encino 91436
8 Forrest Binkley & Brown diversified
19900 MacArthur Blvd.,
Suite 570
Irvine 92612
9 Smart Technology Ventures wireless communications, storage,
1801 Century Park West, network infrastructure, enterprise
Fifth Floor software, telecommunications
Los Angeles 90067
10 InnoCal Venture Capital enterprise software, wireless
600 Anton Blvd., Suite 1270 technology, communications,
Costa Mesa 92626 Internet and broadband technologies
11 E*Capital Corp. consumer products, manufacturing,
1000 Wilshire Blvd., established technologies, retail,
Suite 830 environmental
Los Angeles 90017
12 Anthem Venture Partners semiconductors, telecommunications,
225 Arizona Ave., Suite 200 software
Santa Monica 90401
13 Evercore Ventures wireless, storage, enterprise
11111 Santa Monica Blvd., software, services
Suite 1500
Los Angeles 90025
14 GKM Ventures software, semiconductors, business
11150 Santa Monica Blvd., services, communications
Suite 825
Los Angeles 90025
15 Stone Canyon Venture media, consumer-based, energy,
Partners LP (3) medical services
301 N. Canon Drive,
Suite 302
Beverly Hills 90210
16 Miramar Venture Partners communications, information storage
2101 E. Coast Highway, and processing, enterprise networks
Suite 300
Corona del Mar 92625
17 Coastview Capital LLC biopharmaceutical life sciences
11111 Santa Monica Blvd.,
Suite 1850
Los Angeles 90025
18 Centre Palisades Ventures broadband, telecommunications,
11766 Wilshire Blvd., technology and related areas
Suite 890
Los Angeles 90025
19 California Technology life sciences, information
Ventures LLC technology
1111 S. Arroyo Parkway,
Suite 220
Pasadena 91105
20 Funk Ventures technology, biotechnology, wellness
22048 Sherman Way, (health-oriented), education and
Suite 304 entertainment with technology
Canoga Park 91303 components
Rank Firm (Ranking in 2003) Companies
* name Recently
* address Funded
1 AIG SunAmerica Ventures XenoPort, AccessLine, Network
1 SunAmerica Center, Physics, Procket Networks
38th Floor
Los Angeles 90067
2 Rustic Canyon Partners NanoNexus, Glass-Lewis, StoneFly,
2425 Olympic Blvd., FieldCentrix
Suite 6050 West
Santa Monica 90404
3 GRP Partners I4 Commerce, Sagent
2121 Avenue of the Stars, Advisors, eStyle Inc.,
Suite 1630 Evant Inc., Qualys Inc.
Los Angeles 90067
4 Clearstone Venture Partners Chutney Technologies, Composite
1351 Fourth St., Software, iPolicy Networks,
Fourth Floor CastBridge
Santa Monica 90401
5 Kline Hawkes & Co. CaseStack, LivHome
11726 San Vicente Blvd.,
Suite 300
Los Angeles 90049
6 Palomar Ventures Fulcrum Microsystems, Network
100 Wilshire Blvd., Inference, Attensity Corp., Voxity,
Suite 450 NetContinuum Inc.
Santa Monica 90401
7 Pacific Venture Group N/A
16830 Ventura Blvd.,
Suite 244
Encino 91436
8 Forrest Binkley & Brown N/A
19900 MacArthur Blvd.,
Suite 570
Irvine 92612
9 Smart Technology Ventures Atrenta Inc.,
1801 Century Park West, E20 Communications Inc.,
Fifth Floor STM Power Inc.
Los Angeles 90067
10 InnoCal Venture Capital Accruent Inc., DispenseSource
600 Anton Blvd., Suite 1270 Inc., ITM Software Inc., TCI
Costa Mesa 92626 Solutions Inc.
11 E*Capital Corp. 180s, Cargo Technology Inc.
1000 Wilshire Blvd.,
Suite 830
Los Angeles 90017
12 Anthem Venture Partners Nevengineering, Troika Networks,
225 Arizona Ave., Suite 200 Solarflare, Entropic
Santa Monica 90401 Communications, Planet ATE,
Wavestream Corp.
13 Evercore Ventures Nth Orbit, Ario Data Networks,
11111 Santa Monica Blvd., Meru Networks
Suite 1500
Los Angeles 90025
14 GKM Ventures Silicon Bandwidth, TransDimension,
11150 Santa Monica Blvd., ADX, Voyager
Suite 825
Los Angeles 90025
15 Stone Canyon Venture Allient Protection Services, Pasta
Partners LP (3) Pomodoro, Cargo Technology Inc.
301 N. Canon Drive,
Suite 302
Beverly Hills 90210
16 Miramar Venture Partners Aktino Inc., Protego Networks Inc.
2101 E. Coast Highway,
Suite 300
Corona del Mar 92625
17 Coastview Capital LLC Cellular Genomics, Acadia
11111 Santa Monica Blvd., Pharmaceuticals, Hypnion, Anadys
Suite 1850 Pharmaceuticals
Los Angeles 90025
18 Centre Palisades Ventures Lucix Corp., Avenxus Inc., Zinio
11766 Wilshire Blvd., Systems, MegaPath Networks
Suite 890
Los Angeles 90025
19 California Technology Vivant, SurgRx, Turbine
Ventures LLC Entertainment
1111 S. Arroyo Parkway,
Suite 220
Pasadena 91105
20 Funk Ventures Strata Development Group
22048 Sherman Way,
Suite 304
Canoga Park 91303
Rank Firm (Ranking in 2003) Preferred
* name Financing
* address Stage(s)
1 AIG SunAmerica Ventures early to mid
1 SunAmerica Center,
38th Floor
Los Angeles 90067
2 Rustic Canyon Partners seed, early,
2425 Olympic Blvd., growth
Suite 6050 West
Santa Monica 90404
3 GRP Partners all
2121 Avenue of the Stars,
Suite 1630
Los Angeles 90067
4 Clearstone Venture Partners early
1351 Fourth St., (series A)
Fourth Floor
Santa Monica 90401
5 Kline Hawkes & Co. mid to late
11726 San Vicente Blvd.,
Suite 300
Los Angeles 90049
6 Palomar Ventures early
100 Wilshire Blvd.,
Suite 450
Santa Monica 90401
7 Pacific Venture Group all
16830 Ventura Blvd.,
Suite 244
Encino 91436
8 Forrest Binkley & Brown late
19900 MacArthur Blvd.,
Suite 570
Irvine 92612
9 Smart Technology Ventures early, mid,
1801 Century Park West, late
Fifth Floor
Los Angeles 90067
10 InnoCal Venture Capital early,
600 Anton Blvd., Suite 1270 expansion
Costa Mesa 92626
11 E*Capital Corp. growth
1000 Wilshire Blvd.,
Suite 830
Los Angeles 90017
12 Anthem Venture Partners series A-C
225 Arizona Ave., Suite 200
Santa Monica 90401
13 Evercore Ventures all
11111 Santa Monica Blvd.,
Suite 1500
Los Angeles 90025
14 GKM Ventures expansion
11150 Santa Monica Blvd., (series B)
Suite 825
Los Angeles 90025
15 Stone Canyon Venture second round
Partners LP (3)
301 N. Canon Drive,
Suite 302
Beverly Hills 90210
16 Miramar Venture Partners early to mid
2101 E. Coast Highway,
Suite 300
Corona del Mar 92625
17 Coastview Capital LLC all
11111 Santa Monica Blvd.,
Suite 1850
Los Angeles 90025
18 Centre Palisades Ventures growth
11766 Wilshire Blvd.,
Suite 890
Los Angeles 90025
19 California Technology all
Ventures LLC
1111 S. Arroyo Parkway,
Suite 220
Pasadena 91105
20 Funk Ventures early, first and
22048 Sherman Way, second round
Suite 304
Canoga Park 91303
Rank Firm (Ranking in 2003) Source of
* name Funds
* address
1 AIG SunAmerica Ventures WND
1 SunAmerica Center,
38th Floor
Los Angeles 90067
2 Rustic Canyon Partners institutions,
2425 Olympic Blvd., individuals, families
Suite 6050 West
Santa Monica 90404
3 GRP Partners institutional
2121 Avenue of the Stars, investors
Suite 1630
Los Angeles 90067
4 Clearstone Venture Partners institutions,
1351 Fourth St., pensions,
Fourth Floor fund of funds, families
Santa Monica 90401
5 Kline Hawkes & Co. institutional
11726 San Vicente Blvd., investors
Suite 300
Los Angeles 90049
6 Palomar Ventures institutional
100 Wilshire Blvd., investors
Suite 450
Santa Monica 90401
7 Pacific Venture Group private limited
16830 Ventura Blvd., partners
Suite 244
Encino 91436
8 Forrest Binkley & Brown institutions,
19900 MacArthur Blvd., high net-worth
Suite 570 individuals
Irvine 92612
9 Smart Technology Ventures private investors
1801 Century Park West,
Fifth Floor
Los Angeles 90067
10 InnoCal Venture Capital institutional
600 Anton Blvd., Suite 1270 investors
Costa Mesa 92626
11 E*Capital Corp. WND
1000 Wilshire Blvd.,
Suite 830
Los Angeles 90017
12 Anthem Venture Partners financial institutions
225 Arizona Ave., Suite 200
Santa Monica 90401
13 Evercore Ventures WND
11111 Santa Monica Blvd.,
Suite 1500
Los Angeles 90025
14 GKM Ventures institutions,
11150 Santa Monica Blvd., individuals, SBA
Suite 825
Los Angeles 90025
15 Stone Canyon Venture institutions,
Partners LP (3) individuals
301 N. Canon Drive,
Suite 302
Beverly Hills 90210
16 Miramar Venture Partners WND
2101 E. Coast Highway,
Suite 300
Corona del Mar 92625
17 Coastview Capital LLC limited partners,
11111 Santa Monica Blvd., institutions,
Suite 1850 individuals
Los Angeles 90025
18 Centre Palisades Ventures instititional
11766 Wilshire Blvd., investors
Suite 890
Los Angeles 90025
19 California Technology institutions, high
Ventures LLC net-worth
1111 S. Arroyo Parkway, individuals
Suite 220
Pasadena 91105
20 Funk Ventures institutions,
22048 Sherman Way, private investors
Suite 304
Canoga Park 91303
Rank Firm (Ranking in 2003) Top Local Executive(s)
* name * name
* address * title
* phone
1 AIG SunAmerica Ventures M. Gamsin/T. Fukumoto
1 SunAmerica Center, president/managing dir.
38th Floor (310) 772-6000
Los Angeles 90067
2 Rustic Canyon Partners Tom Unterman
2425 Olympic Blvd., managing partner
Suite 6050 West (310) 998-8000
Santa Monica 90404
3 GRP Partners S. Lebow/Y. Sisteron
2121 Avenue of the Stars, managing ptnrs., founders
Suite 1630 (310) 785-5100
Los Angeles 90067
4 Clearstone Venture Partners Bill Elkus
1351 Fourth St., managing director, founder
Fourth Floor (310) 460-7900
Santa Monica 90401
5 Kline Hawkes & Co. Frank Kline
11726 San Vicente Blvd., managing partner
Suite 300 (310) 442-4700
Los Angeles 90049
6 Palomar Ventures J. Gauer/R. Smith
100 Wilshire Blvd., general partners
Suite 450 (310) 260-6050
Santa Monica 90401
7 Pacific Venture Group E. Kurtin/L. Crouch
16830 Ventura Blvd., managing directors
Suite 244 (818) 990-4141
Encino 91436
8 Forrest Binkley & Brown G. Forrest/J. Brown
19900 MacArthur Blvd., partners
Suite 570 (949) 222-1987
Irvine 92612
9 Smart Technology Ventures David Nazarian
1801 Century Park West, founding member
Fifth Floor (310) 203-3800
Los Angeles 90067
10 InnoCal Venture Capital H.D. Lambert
600 Anton Blvd., Suite 1270 managing director
Costa Mesa 92626 (714) 850-6784
11 E*Capital Corp. Eric Wedbush
1000 Wilshire Blvd., president
Suite 830 (213) 688-8080
Los Angeles 90017
12 Anthem Venture Partners William Woodward
225 Arizona Ave., Suite 200 managing partner
Santa Monica 90401 (310) 899-6225
13 Evercore Ventures A. Beutner/S. Pant
11111 Santa Monica Blvd., general partners
Suite 1500 (310) 689-0800
Los Angeles 90025
14 GKM Ventures Jonathan Bloch
11150 Santa Monica Blvd., managing director
Suite 825 (310) 268-2623
Los Angeles 90025
15 Stone Canyon Venture M. Seibert/P. Smith
Partners LP (3) managing directors
301 N. Canon Drive, (310) 551-2250
Suite 302
Beverly Hills 90210
16 Miramar Venture Partners Bruce R. Hallett
2101 E. Coast Highway, managing partner
Suite 300 (949) 760-4450
Corona del Mar 92625
17 Coastview Capital LLC Gordon Binder
11111 Santa Monica Blvd., managing director
Suite 1850 (310) 473-8440
Los Angeles 90025
18 Centre Palisades Ventures Paul D'Addario
11766 Wilshire Blvd., senior managing director
Suite 890 (310) 996-7696
Los Angeles 90025
19 California Technology A. Suh/G. Lazar
Ventures LLC managing directors
1111 S. Arroyo Parkway, (626) 403-6632
Suite 220
Pasadena 91105
20 Funk Ventures Andy J. Funk
22048 Sherman Way, ceo, managing director
Suite 304 (818) 716-0413
Canoga Park 91303
N/A--Not Applicable WND--Would Not Disclose
(1) In millions.
(2) Number of projects invested in since inception.
(3) New address as of March 1.
Note: Information on this list was provided by representatives of the
firms themselves. In order to qualify, venture capital firms must be
headquartered in Los Angeles and Orange Counties. Firms are ranked by
the amount of capital under management companywide and the number of
projects completed since inception, respectively. DynaFund,
Finaventures and Zone Ventures may have qualified but failed to submit
information.
To the best of our knowledge, this information is accurate as of press
time. While every effort is made to ensure the accuracy and
thoroughness of the list, omissions and typographical errors sometimes
occur. Please send corrections or additions on company letterhead to
the Research Department, Los Angeles Business Journal, 5700 Wilshire
Blvd., Suite 170, Los Angeles 90036. [c] 2004 Los Angeles Business
Journal. This list may not be reprinted in whole or in part without
prior written permission from the editor. Reprints are available from
Wright's Reprints, (800) 494-9051.
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