From curing cancer to cottage cheese: 10 Orange County concepts that got $237 million in venture capital

What hot ideas are getting cash in Orange County this year?

Investing by cellphone. New coolant air conditioners. Oh, sure, gaming, cybersecurity, heart health and curing cancer

Did I mention, gourmet cottage cheese?

Ten fledgling companies exploring this array of innovation raised a combined $237 million in the year’s first quarter, according to Dow Jones VentureSource …

1. Acorns Advisers of Irvine —  investment app for phones — raised $105 million in 8th-round venture capital financing from TPG Growth LLC; NBCUniversal; MSD Capital LP; DST Global; Comcast Ventures; BlackRock Alternative Investors; and Bain Capital LLC.

2. Second Dinner Studios of Tustin — video gaming — raised $30 million in 1st-round venture capital financing from Netease Capital.

— bladder cancer cure — raised $22 million in 3rd-round venture capital financing from Perseverance Capital Management and ORI Capital Investment Advisory (Hong Kong) Ltd.

4. Obsidian Security of Newport Beach — cyber-security — raised $20 million in 1st-round venture capital financing from Wing Venture Partners LP; GV; and Greylock Management.

5. Newlight Technologies of Huntington Beach — “green” plastics — raised $19 million in “other equity” financing from undisclosed investors.

6. BookingPal of Irvine — vacation rentals — raised $12 million in 4th-round venture capital from Valor Capital Group LLC; Thayer Ventures; Plug and Play Tech Center; PAR Capital Management Inc.; Amadeus Capital Partners Ltd.; Altabix; and others.

7. Bitcentral of Newport Beach —  news-video software– raised $10 million in 2nd-round venture capital from Virgo Investment Group LP.

8. Good Culture of Irvine — gourmet cottage cheese — raised $8 million in third-round venture capital from CAVU Venture Partners; Almanac Investments; and 301 Inc.

9. Adagio Medical of Laguna Hills — heart surgery — raised $7 million in “other equity” financing from undisclosed investors.

10. Bluon Energy of Irvine — air conditioning/refrigerants — raised $4 million in “growth equity” financing from The Ecosystem Integrity Fund.

All told, 18 Orange County companies got $270 million in venture funds in 2019’s first three months vs. 25 deals worth $329 million a year earlier. Since 1992, 1,474 venture deals have raised $18.53 billion locally.

This content was originally published here.



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