As the LA venture market booms, Upfront closes its sixth fund with $400 million

Los Angeles is the third largest market for venture capital investment in the United States with $4.2 billion invested in the last year alone, and it’s perhaps the market where capital commitments are increasing at the fastest pace.

With the public offering of Snap, and the billion dollar exits for both Dollar Shave Club and Qlogic, the city has also proven to be a place where investors are posting real returns.

So it’s no wonder that one of Los Angeles’ oldest venture firms, Upfront Ventures, was able to close on $400 million for its sixth fund. The city is booming, and the blistering pace at which Upfront was able to close the fund (from launch to close within two-and-a-half months, according to managing partner, Mark Suster), is just another sign that the technology scene…

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