- 3L Capital — an investment firm that is based in LA and NYC — has raised $217 million for an equity fund to invest in local companies
3L Capital, an investment firm that is based in LA and NYC has raised $217 million for an equity fund that will be investing in local companies.
3L Capital did not disclose which companies participated in the round, but a spokesperson told LA Business Journal that this is a “generalist fund” that will be used for investing in companies that are looking for a “Series B or later round.”
Founded by Shawn Colo (co-founder and former CEO of Demand Media), Kerry Kellogg (former director at RSE Ventures and venture investor at Omnicom Group), and Dave Leyrer (current venture partner at FirstMark Capital and former general partner at Boulevard Capital LLC) two years ago, 3L has invested in companies like Wheels Labs, The Young Turks, Smile Direct Club, goPuff, TheRealReal, SnackNation, and ChowNow.
“Our investment philosophy is rooted in identifying companies with strong underlying unit economics and providing the capital, advice, and relationships to help these companies scale,” says a description of the venture firm on its website. “Our founders have built and operated successful internet and CPG companies from idea inception to capital raises and ultimately IPO.”
And 3L Capital operates on four pillars: access (relationships with entrepreneurs and CEOs of startups and multi-billion dollar global companies), operating experience (founders have built and operated companies from startup through IPO), discipline (focus on unit economics, cash flow management, and proprietary data), and perspective (advise CEOs on operational, strategic, and financial matters).
