California-based advisory group TYLT Lab has launched an early stage fund focused on seed-to-A round investments.
The fund launched with its initial LP and first investments late in 2013 and has now added limited partners with $20m in committed capital toward their initial fund closing. LA entrepreneurs Rami Rostami and Gerard Casale founded the fund and sourced the TYLT Lab management team.
“We believe that the local startup ecosystem has finally reached a critical mass in Los Angeles– specifically in the Silicon Beach area– and our fund intends to be in the middle of all the action. We are finding great companies right here in SoCal” said Casale.
Rostami is the first limited partner in the fund. Rostami has built the long standing and leading wireless accessory distributor Technocel of Simi Valley as well as the more recently launched accessory product and lifestyle brands TYLT and Jelly Fish. Collectively, Casale and Rostami have been privately investing in companies together since 2008.
In the past, the pair had coupled their cash investment with the provision of management services, software and app development services, logistics, manufacturing and product development services to nearly a dozen companies before launching TYLT Lab together.
“We are looking to be involved in the companies with which we invest. We have a platform that has been tested with Fortune 100 companies over the past 20+ years which includes supply chain services, logistics, pick, pack and ship, rapid 3D printing/prototyping, global distribution network and much more, and we are offering this to early to mid-stage companies. We think this is a unique offering to our entrepreneur partners,” said Rostami.
TYLT Lab said that it will aim to place 12-15 investments in 2014 ranging from $50,000 to a maximum of $2,000,000 per investment.
TYLT Lab is based in Santa Monica, with a focus on consumer lifestyle products, mobile platforms and services, home automation, software focused on transactions and engagements, consumer goods, clean technology, e-healthcare, and entertainment.
Copyright © 2014 AltAssets