Although Crosscut was launched in 2008, the principals (Brian Garrett and Rick Smith) have nearly 40 years of combined experience investing in and advising businesses. They have worked together since 2001. They have managed funds that combined had over $1 billion under management.
They have an unsurpassed network and reputation within the Southern California venture community, built upon many years of successful investing and mentoring. What they have seen over the last several years is an underserved market for local venture money and a severe void of capital available for start-ups in their earliest, and neediest, phases of development.
At the same time, they have seen a post-bubble resurgence in opportunities in digital media, with over 20 significant and sizable companies started in Southern California, including MySpace, Overture, Jamdat, PriceGrabber, LowerMyBills, Shopzilla, Doubeclick, eHarmony and Rent.com.
These companies and the entrepreneurs behind them have established Southern California as the hub of digital media and the epicenter for new opportunities arising from the convergence of technology, media and entertainment. Areas of interest include consumer internet, gaming, mobile, online advertising, ecommerce and the next-generation of infrastructure and analytics to support the web and other emerging platforms.
Their goal is simple: Crosscut wants to be THE funding source that supports and drives this region and its continued innovation.
|On The Run Tech||11/2012||Seed||$1.3M||7|
|Personalized Beauty Discovery||7/2012||Private Equity||$2.76M||1|
|Postcard on the Run||11/2011||Angel||$750k||1|
|Ze Frank Games||7/2010||Seed||$500k||11|
|Circle Street||7/2010||Venture Round||1|