Monday, March 10, 2014
TYLT Lab Raises $20M For SoCal Venture Investments
A new, Los Angeles-based venture capital firm--TYLT Lab--said Monday that it has raised $20M in an initial close towards its early stage, seed investment fund. According to the new venture firm, it is focused on early stage, seed to A-round investments, with a focus on Southern California companies, and specifically Silicon Beach. The venture capital fund was founded by Rami Rostami and Gerard Casale. According to the two, they are looking to be "in the middle of all the action" in Silicon Beach, and believes the local startup ecosystem has finally reached critical mass. The company says it plans to make 12 to 15 investments this year, ranging from $50,000 to a maximum of $2.0M per investment. Rostami was previously at wireless accessory distributor Technocel, and also was involved with brands TYLT and Jelly Fish. The company also says it will be providing advisory services for companies that it invests in.