San Diego Business Journal

SD FINANCE

Recent and archived news stories on: Banks, Credit Unions, Mortgage Lending, SBA, Stocks/Bonds, Venture Capital, Wealth Management...

VC Focus on Local Startups, Early-Stage Cos. A Good Sign

CAPITAL: Strong Q2 Is 7th Highest in Nation

Venture capital investment in San Diego rose last quarter to $350.5 million, bolstered by the region’s largest-ever deal.

Seacoast Commerce Banc Holdings Posts Q2 Net Income of $1.78 Million

Net income for Seacoast Commerce Bank corporate parent Seacoast Commerce Banc Holdings was nearly $1.78 million in the second quarter of 2016, a 30.4 percent increase compared to the second quarter of 2015.

Region's Businesses Losing Confidence, Survey Finds

Confidence among San Diego County businesses fell in June, according to the San Diego Regional Chamber of Commerce's monthly business outlook forecast, dropping to the lowest level since the index launched nearly three years ago.

Illumina Is Seeking Candidates for Its Accelerator Program

Gene sequencing giant Illumina Inc. is calling for startups to apply to its business accelerator program for early-stage businesses in the genomics space.

AltheaDx Inc. Aims to Raise $6M in Debt Financing

San Diego molecular information firm AltheaDx Inc. has raised $2.2 million in debt financing, according to a form recently filed with the Securities and Exchange Commission.

HCAP Partners Invests Undisclosed Amount in Texas Software Firm

San Diego-based private equity firm HCAP Partners has invested in Lucernex Inc., a Texas firm that sells cloud-based workplace management systems and lifecycle management systems to support its global expansion.

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Teen Sets Great Example as She Puts All Her Heart Into Helping

Make-A-Wish San Diego and San Diego Habitat for Humanity came together to make an inspiring young teen’s wish come true. Julia, a senior at Mission Hills High School in San Marcos, was an MVP on the varsity volleyball team and had visited the Dominican Republic last summer to build homes for families in need and was immediately hooked on giving back. She had plans to make a similar trip again this year, but in November, she was diagnosed with cancer that prevents travel.

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STREET SMARTS

With Gig Economy Workers and Data on Board, Wrapify’s Advertising Platform Is Moving Along

It’s been nearly a year since San Diego tech startup Wrapify began connecting drivers interested in getting paid for turning their vehicles into moving billboards with advertisers who wanted to track impressions from outdoor marketing in real time.

Three San Diego Dealerships Acquired by New Jersey-based Holman Automotive

New Jersey-based Holman Automotive announced it has completed its acquisition of Kuni Automotive, a Vancouver company with 14 luxury dealerships in five U.S. states.

M&M Plastics Inc. Acquired by New York Firm

A New York-based plastics supplier has acquired M&M Plastics Inc., a plastics fabrication shop in Miramar that services businesses nationwide.

San Diego Mininum Wage Hike Takes Effect

A voter-approved increase in the minimum wage in the city of San Diego took effect Monday.

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Pension Fund Is Acquiring Stakes in UTC Buildings for $256M

New York-based pension fund operator TIAA Global Asset Management has agreed to acquire a 45 percent stake in two University Towne Center office properties for a total of approximately $256 million, according to CoStar Group and property owner Alexandria Real Estate Equities Inc.

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ROIC Announces $115.8 Million Stock Offering

San Diego-based Retail Opportunity Investments Corp. (ROIC) on July 6 announced the start of a public offering of common stock shares, expected to generate net proceeds of approximately $115.8 million after underwriting and related expenses.

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HUFC Fundraising Gala Helps Children Around the World

The Fifth Annual Hands United for Children Fundraiser Gala took place at the Prado Ballroom in Balboa Park recently. The evening raised $97,000 for HUFC’s three projects: Children’s Nature Retreat, HUFC Dental Clinic and the programs in Saponé Burkina Faso in West Africa, all benefitting children in need.

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‘Shark Tank’ Survivors

FINANCE: Local Businesses Tested the Waters Of TV Show Financing With Mixed Results

When producers of the popular ABC TV show “Shark Tank” last came through San Diego County to audition potential entrepreneurs in 2014 — at Southwestern College in National City — more than 150 locals showed up to make their pitch.