In The News
"DOLLARS FOR DEALS", Los Angeles Business Journal, Oct 19, 1998
Investment banker Lorne Goldberg has just turned 30, but the founder of West Los Angeles-based West Coast Capital LLC has recently engineered a couple of bigger deals of the type usually associated with the more-established investment banking shops. He raised $18 million for Los Angeles-based Thrifty Lavanderia, a chain of laundromats that is effecting an industry roll-up, and $6 million for You Bet International, Inc., a West Los Angeles-based online horse racing wagering service that will allow bettors to place bets with the Great Britain-based bookie, Labroke Ltd.
In the two and a half years since he founded West Coast Capital, Goldberg has raised $60 million for Los Angeles-area companies, such as Pink Dot, Inc., the delivery service, Rosti Inc., the dining chain, and P.S. I Love You, Inc., the personalized greeting-card company.
What’s the secret of Goldberg’s success?
“I know all the sources of capital in town. I have tried to get to know them, and I do,” he said, referring to leveraged buy out funds, venture capital funds and other money sources. The hot market of the 1990s has helped – and even the recent reverses on Wall Street have helped.
“Now, many companies can’t go to the public market. They need capital, so they get it from private sources,” he said. “If they need from $3 million to $30 million, I can get it for them.”