California
Banc of California Courts Startups
Brentwood-based Banc of California last month launched a new service targeting startups in early stages.
Dubbed Build@Banc, this program looks to lure startups at seed and early-stage funding rounds.
The details remain scant, but the bank said this program will aid entrepreneurs from initial investments to initial public offerings.
“We want companies to start with us, stay with us and grow with us – from inception to IPO and beyond,” said Sean Lynden, president of venture banking at Banc of California.
Lynden led Pacwest’s expansive venture banking division prior to its merger with Banc of California last year. Its portfolio of high-growth startups included Picsart, Navitas Semiconductor and MomentFeed.
Banc of California’s service launch comes after the broader financial industry heightened its scrutiny on both startups and venture capital firms following the dramatic collapse of Silicon Valley Bank last year.
Financial institutions with venture capital arms have continued to fund startups, but investment criteria now weigh the economic resiliency of innovations in addition to disruption capability.
Citi Ventures, one of the largest players in corporate venture capital, has homed in on cash flow, burn rates and paths to profitability in its investment thesis.
Capitol One Ventures is now focused on startups that can offer strategic advantages to Capitol One’s other business lines — a push towards practical over unconventional risk.
Jared Wolff, chief executive Banc of California, previously said the valuation correction following sharp interest rate hikes hasn’t necessarily hurt the bank’s business.
Banc of California provides bridge capital – essentially loans between rounds of capital raises that offer liquidity as companies meet with investors.
California
California toddler falls out of moving car, mother charged
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A California mother was arrested on felony child abuse charges after a viral video showed her 19-month-old child falling from a moving SUV at a busy Fullerton intersection, police said Monday.
The Fullerton Police Department said it became aware of the video, which shows a black SUV turning at an intersection when a passenger-side door suddenly opens. A small child then falls out of the vehicle and onto the roadway.
The SUV immediately stops, and a car following behind narrowly avoids colliding with it. The car stops just short of the child on the roadway.
The video shows an adult woman running from the driver’s side, picking up the child and placing the toddler back inside the SUV before driving away.
MAN RUNS INTO FLORIDA STREET TO SAVE TWO YOUNG CHILDREN WHO WANDERED AWAY FROM RENTAL HOME
A black SUV turns at an intersection when a passenger-side door suddenly opens and a small child falls out of the vehicle and onto the roadway. (Fullerton Police Department)
A witness called police on Saturday and provided identifying information about the vehicle. Officers traced the SUV to a home in La Habra, where they located the vehicle, the child and a suspect believed to be the woman seen in the video.
A car following the SUV narrowly avoided hitting the child and SUV. (Fullerton Police Department)
Police identified the child as a 19-month-old who suffered injuries consistent with the fall. The toddler was taken to a nearby hospital for treatment and is expected to make a full recovery.
FLORIDA DEPUTIES RACE TO SAVE 4-YEAR-OLD WHO STOPPED BREATHING AND HAD NO PULSE ON INTERSTATE, VIDEO SHOWS
The suspect was identified as Jacqueline Hernandez, 35, of La Habra, and the child’s mother. She was arrested and booked into the Fullerton City Jail for felony child abuse, police said.
The child’s mother, identified as Jacqueline Hernandez, 35, of La Habra, picks the child up from the road. Hernandez was later arrested and charged with felony child abuse, police said. (Fullerton Police Department)
Neighbors told FOX11 Los Angeles that the family has several children and could not believe the mother would put her children in such a dangerous situation.
“I can’t excuse something like that, I’m sorry,” a neighbor who wished to remain anonymous told the local station.
Investigators believe the incident occurred between 8 a.m. and 9 a.m. on Jan. 20. Police said they did not receive any emergency calls related to the incident at the time.
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The investigation remains ongoing, and police are asking anyone with additional information to contact the Fullerton Police Department’s Sensitive Crimes Unit.
California
California gubernatorial candidates outline their priorities at UCSF event
Several of the candidates vying to become California’s next governor gathered Monday at the University of California, San Francisco to make their case to voters.
Seven Democrats took the stage at UCSF to outline their priorities for their first 100 days in office. Republican candidates were invited but declined to participate.
On June 2, California voters will narrow the field to two candidates in an open primary. Those two will then face off on Nov. 3.
NBC Bay Area’s Velena Jones has more in the video report above.
California
California joins UN health network following US departure from WHO
The network, comprised of more than 360 technical institutions, responds to public health events with the deployment of staff and resources to affected countries.
Sign up here.
California Governor Gavin Newsom decried the United States’ move on Friday, calling it a “reckless decision” that will hurt many people.
“California will not bear witness to the chaos this decision will bring,” Newsom said in a statement. “We will continue to foster partnerships across the globe and remain at the forefront of public health preparedness, including through our membership as the only state in WHO’s Global Outbreak Alert & Response Network.”
The governor’s office said he met with the WHO’s Director General, Dr. Tedros Adhanom Ghebreyesus, at the World Economic Forum in Davos, Switzerland, this week, where they discussed collaborating to detect and respond to emerging public health threats.
The WHO did not immediately respond when reached for comment.
Reporting by Jasper Ward in Washington
Editing by Rod Nickel
Our Standards: The Thomson Reuters Trust Principles.
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