Monday, September 27, 2021

New Program Aims To Connect Startups, Series A Funding

A new program, run by the Alliance for Southern California Innovation, is looking to connect startups with Series A funding, according to the group. The Alliance said it has launched its new SoCal Venture Pipeline program, to help bridge a key funding gap for Southern California entrepreneurs, by connecting them to relevant venture capital firms. The new program is being run in partnership with Silicon Valley Bank. According to the two, the program recruits and selects top SoCal-based startups that have demonstrated clear market traction and provides introductions to leading venture funds. The new program also is funded by by Wilson Sonsini Goodrich & Rosati and KPPB, LP. According to the Alliance, companies who want to participate in the program should have raised at least $500k of angel/seed investment, have a dedicated team of at least 3 people, a product in the market, and demonstrated market traction with revenue or users.

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