Banc of California Renews Commitment to Alliance for Southern California Innovation
Banc of California has renewed its title sponsorship of the SoCal Venture Pipeline for a third consecutive year. The Pipeline, which improves access to institutional capital for Southern California-based founders seeking Seed and Series A funding, has attracted nearly 800 applicants since June 2021. Of the 88 accepted companies, 24 have secured funding totaling $112 million, and three found acquirers. The program serves as the primary sourcing engine for the Alliance's Catalyst Fund, which has invested in four SoCal-based startups. The Pipeline's portfolio reflects regional diversity, with 40% women-led and 60% minority-led companies across various industries including AI, cleantech, and software.
Banc of California ha rinnovato il suo titolo di sponsor principale del SoCal Venture Pipeline per il terzo anno consecutivo. Il Pipeline, che migliora l'accesso al capitale istituzionale per i fondatori della California del Sud in cerca di finanziamenti Seed e Series A, ha attratto quasi 800 candidati da giugno 2021. Delle 88 aziende accettate, 24 hanno ottenuto finanziamenti per un totale di $112 milioni e tre hanno trovato acquirenti. Il programma funge da principale motore di approvvigionamento per il Catalyst Fund dell'Alliance, che ha investito in quattro startup della California del Sud. Il portafoglio del Pipeline riflette una diversità regionale, con aziende dirette da donne per il 40% e da minoranze per il 60% in vari settori tra cui AI, cleantech e software.
Banc of California ha renovado su patrocinio principal del SoCal Venture Pipeline por tercer año consecutivo. El Pipeline, que mejora el acceso al capital institucional para fundadores de California del Sur que buscan financiación Seed y Series A, ha atraído casi 800 solicitantes desde junio de 2021. De las 88 empresas aceptadas, 24 han asegurado financiación por un total de $112 millones, y tres encontraron compradores. El programa sirve como el principal motor de abastecimiento para el Catalyst Fund de la Alianza, que ha invertido en cuatro startups de California del Sur. El portafolio del Pipeline refleja diversidad regional, con empresas dirigidas por mujeres en un 40% y dirigidas por minorías en un 60% en diversas industrias, incluyendo IA, cleantech y software.
Banc of California는 SoCal Venture Pipeline의 타이틀 스폰서십을 3년 연속 갱신했습니다. 이 Pipeline은 Seed 및 Series A 자금을 찾는 남부 캘리포니아 창업자들에게 제도적 자본에 대한 접근을 개선하며, 2021년 6월 이후 거의 800명의 지원자를 유치했습니다. 88개 수용 기업 중 24개 기업이 총 $112 백만의 자금을 확보했으며, 3개 기업은 인수자를 찾았습니다. 이 프로그램은 Alliance의 Catalyst Fund의 주요 조달 엔진 역할을 하며, 이 펀드는 남부 캘리포니아의 4개 스타트업에 투자했습니다. Pipeline의 포트폴리오는 산업 인공지능(AI), 클린테크 및 소프트웨어를 포함한 다양한 산업에서 여성 주도 기업 40% 및 소수자 주도 기업 60%을 포함한 지역적 다양성을 반영합니다.
Banc of California a renouvelé son titre de sponsor principal du SoCal Venture Pipeline pour la troisième année consécutive. Le Pipeline, qui améliore l'accès au capital institutionnel pour les fondateurs basés en Californie du Sud recherchant des financements Seed et Series A, a attiré près de 800 candidats depuis juin 2021. Parmi les 88 entreprises acceptées, 24 ont obtenu des financements s'élevant à un total de 112 millions de dollars, et trois ont trouvé des acquéreurs. Le programme sert de moteur principal pour le Catalyst Fund de l'Alliance, qui a investi dans quatre startups basées en Californie du Sud. Le portefeuille du Pipeline reflète la diversité régionale, avec des entreprises dirigées par des femmes à 40% et dirigées par des minorités à 60% dans divers secteurs, y compris l'IA, Cleantech et les logiciels.
Banc of California hat sein Titelsponsoring für die SoCal Venture Pipeline zum dritten Mal in Folge erneuert. Die Pipeline, die den Zugang zu institutionellen Kapital für Gründer in Südkalifornien, die Seed- und Series-A-Finanzierung suchen, verbessert, hat seit Juni 2021 fast 800 Bewerber angezogen. Von den 88 akzeptierten Unternehmen haben 24 Finanzierungen in Höhe von insgesamt $112 Millionen gesichert, und drei haben Käufer gefunden. Das Programm dient als primäre Beschaffungsquelle für den Catalyst Fund der Alliance, der in vier südkalifornische Startups investiert hat. Das Portfolio der Pipeline spiegelt regionale Vielfalt wider, mit 40 % von Frauen geführten und 60 % von Minderheiten geführten Unternehmen in verschiedenen Branchen wie KI, Cleantech und Software.
- Strong pipeline performance with 24 companies funded for $112 million and 3 acquisitions
- High acceptance selectivity rate (88 out of 800 applicants) indicating quality deal flow
- Diverse portfolio with 40% women-led and 60% minority-led companies
- None.
Insights
This sponsorship renewal, while positive for regional startup ecosystem development, represents minimal direct financial impact on Banc of California's bottom line. The SoCal Venture Pipeline program's success metrics (
The strategic value lies in relationship building with early-stage companies that could become significant banking clients as they scale. However, the immediate revenue impact is and the program's costs are shared with other supporters. The initiative aligns with the bank's venture banking strategy but isn't material enough to influence near-term financial performance or stock valuation.
The Alliance’s SoCal Venture Pipeline improves access to sources of institutional capital for Seed and Series A funding for local founders
The Pipeline improves access to institutional capital for
The Pipeline — which is banked by Banc of California — serves as the primary sourcing engine for the Alliance’s Catalyst Fund. The fund exclusively focuses on investing in early-stage startups in the Pipeline program that have secured institutional lead investors. The fund has already made several investments, including four SoCal-based startups that have financing from lead investors such as CityRock Ventures, K Street Capital and Long Journey Ventures. The startups include:
- Automotus, which uses AI to make streets safe, sustainable and efficient for everyone;
- Nectir, which provides personalized learning solutions for students in schools ranging from kindergarten through college;
- PrivacyHawk, which helps people manage their digital footprint and reduce their risk of cybercrime, scams and fraud; and
- Wethos, a pioneering force in AI-driven team optimization.
“Increasing capital access for the most promising startups across
Startups based in the SoCal region — which includes
Since its formal launch in June 2021, the SoCal Venture Pipeline has attracted nearly 800 total applicants. It has accepted 88 companies, of which 24 were funded for a total of
“We’re honored to support the Alliance as we work toward a common goal to increase funding opportunities for startups across Southern California,” said Mark diTargiani, a Managing Director with Banc of California’s Venture Banking Group. “Banc of
In addition to its work with the Pipeline and Catalyst Fund, Banc of California supports the Alliance through volunteer engagement. Greg Smith, the bank’s Senior Vice President of Digital Strategy, serves on the advisory council to the board of directors.
About Banc of California, Inc.
Banc of California, Inc. (NYSE: BANC) is a bank holding company with over
About The Alliance for Southern California Innovation
The Alliance for Southern California Innovation (the “Alliance”) is a not-for-profit formed in 2017 that has successfully brought together the heft of
View source version on businesswire.com: https://www.businesswire.com/news/home/20241125325553/en/
Jennifer Saylors
Banc of California
Senior Vice President, Corporate Communications
Office: 213-338-8635
Jenn.Saylors@bancofcal.com
Eric Eide
The Alliance for Southern California Innovation
Managing Director
Office: 415-336-3063
eric@alliancesocal.org
Source: Banc of California, Inc.
FAQ
How much funding has the SoCal Venture Pipeline secured for startups since June 2021?
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How many companies in the BANC-supported Pipeline program are led by underrepresented founders?
