Police reveal 'credible' new information that sparked Madeleine McCann lake search

Respected Portuguese media has said an informant gave detectives "details" they took "very seriously" which prompted the first search for Madeleine McCann in nine years

Image: PA)

The landmark search for missing Madeleine McCann at a remote Algarve reservoir is taking place following a tip from a "very credible" German police informer, it was claimed today.

Respected Portuguese media outlet Expresso said an informant gave detectives "details" they took "very seriously."

While German prosecutor Christian Walters confirmed to the press that the search is based on "indicators" from a source that they could find evidence in the area.

At the request of German investigators, Portuguese police have been carrying out a search for the first time in nine years.

The surrounding area of the Arade dam, about 30 miles from Praia da Luz — where Maddie was last seen alive just before her fourth birthday in 2007 — has been a hive of activity since yesterday.

The reservoir is said to be a favourite spot of convicted German rapist Christian Brückner, who is the number one suspect in her murder.

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Local reports said German police had obtained pictures and video footage showing the German paedophile at the reservoir.

Expresso, a flagship weekly publication of Portuguese media group Impresa, claimed today it "knows that these searches have their origin in a tip from a BKA informant who the police force considers very credible and that the German police took very seriously.”

It said that German police requested the searches after receiving this information.

The media outlet said it had obtained its information from a “source close to the investigation.”

It offered no information on what information German police had been given by its informant, who has not been identified for operational reasons.

Walters also said: "What we hope to find there should remain our secret for the moment."

He continued: "If we should find something then we will certainly tell you about it... but the action itself will also take a little bit of time, it can't be completed within two hours or so."

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The operation was described as a two to three-day operation before it started and it was not clear around midday today whether it will continue beyond today.

Heavy rain forced police and other officials including Civil Protection workers to suspend the searches slightly earlier today.

This morning police appeared to be focusing on a valley slightly north of a secluded clearing behind trees near where three tents were put up on Monday.

The Mirror was on site and noted that shortly before midday a green remote-controlled excavator was brought onto the search site.

Officers used chainsaws to remove large trees and undergrowth, placing them on the shoreline.

German officers with sniffers dogs could also be seen searching for evidence in a wooded area close to the shoreline.

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German prosecutor Hans Christian Wolters has consistently said he is convinced Madeleine is dead and caged paedophile Brueckner, 45, is their main suspect in her alleged death.

The man, currently serving time for the September 2005 rape of an American in the resort where Madeleine vanished, has yet to face any formal accusation over the youngster’s disappearance.

Last April he was made an official suspect in Portugal over Madeleine’s disappearance, although his defence lawyer Friedrich Fulscher labelled it a "procedural trick."

Last autumn Bruecker was charged in Germany with several sex crimes on the Algarve against women and children including the rape of an Irish holiday rep in 2004 and the sexual abuse of a 10-year-old girl on a beach near Praia da Luz in 2007.

A well-placed Portuguese police source said they were focusing on trying to find any evidence linking Brueckner to Madeleine McCann’s disappearance and the German police focus was on finding proof of his involvement in the other cases he was accused of as well.

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The 32 most important VCs in Los Angeles, according to other VCs

Anna Barber, M13

Notable investments: WeeCare, Slingshot Aerospace, Fly By Jing, Chargerhelp, Max Retail, AllVoices

Which kinds of startups she invests in: Seed and Series A rounds focused on circular commerce, the freelance economy, and the future of work. 

Why she's on the list: Barber, a local favorite in LA, slid over to M13 in 2020 after leading the Techstars LA accelerator for three years. She uses her enviable Rolodex to mentor a long list of founders, especially women. Barber recently made her 100th investment; most have been LA companies, two-thirds are led by underrepresented founders, and half have female CEOs, according to Barber. One VC summed up Barber this way: "Very thoughtful, finds great founders, and works really well with other VCs."

Anthony Tucker, Troy Capital Partners

Notable investments: Stripe, Carta, Confluent, UiPath, Coursera, Cohesity

Which kinds of startups he invests in: A variety of stages out of multiple funds with varying check sizes.

Why he's on the list: When Tucker cofounded Troy Capital Partners, the investor was looking to innovate on the traditional venture model. So in 2017, Tucker helped launch Quid, a fund providing loans backed by pre-IPO shares that startup employees then pay back at the time of a sale or IPO. As a managing partner at Troy Capital Partners and Quid, Tucker is an active participant in the LA venture-capital scene, investing across software, consumer, digital media, augmented and virtual reality, retail, and e-commerce.

Assia Grazioli-Venier, Muse Capital

Notable investments: Mahmee, Cofertility, Kinside, Flickplay, Beekeeper's Naturals, Wonder Works

Which kinds of startups she invests in: Pre-seed and seed-stage consumer tech startups in sectors like women's health, childcare, wellness, sustainability, entertainment, gaming, and Web3, with a focus on underserved markets. Check sizes range from $500,000 to $2 million.

Why she's on the list: Grazioli-Venier has long been a supporter of diversity in the LA tech and VC community. Muse Capital, which she cofounded alongside Rachel Springate, is focused on underserved markets, with investments in women- and minority-led startups like Cofertility, Kinside, and Beekeeper's Naturals. Before breaking into investing, Grazioli-Venier had a long operating career. The investor started out in London, where she launched TV and radio for the music brand and record label Ministry of Sound, which was later sold to Sony Music UK. Grazioli-Venier then spent more than seven years at Spotify, where she helped lead the company's strategic partnerships and business development through to scale. 

Austin Clements, Slauson & Co.

Notable investments: Complyant, Prado, EngineEars, Fêtefully, Fctry Lab

Which kinds of startups he invests in: Pre-seed and seed-stage startups serving consumers or small businesses, with check sizes ranging from $1 million to $2 million.

Why he's on the list: As a cofounder and managing partner at Slauson & Co., an early-stage VC firm focused on economic inclusion, Clements has dedicated his career to uplifting underrepresented founders. At Slauson, Clements specifically invests in tech startups that serve small businesses. Outside of his work as an investor, Clements is the founding chair of PledgeLA, a collective of LA-based tech companies and VC firms that promote diversity in the local tech community. Before Slauson, Clements was a principal at TenOneTen Ventures and the founder of an app-development firm called Pi Digital Media.

Brian Garrett, Crosscut Ventures

Notable investments: Welcome Tech, Umbra Space, Pacaso 

Which kinds of startups he invests in: Seed-stage companies focusing on space, defense, advanced manufacturing, and artificial intelligence. Check sizes range from $500,000 to $3 million.

Why he's on the list: Garrett is a cofounder of Crosscut Ventures, one of LA's oldest seed-stage firms. A rival VCs praised Garret as "patient, smart, well connected, and willing to pick up the phone" for his portfolio companies.

"Brian and the team at Crosscut don't shy away from 'unsexy' industries and digging in to learn more when it's a new space for them," another VC added. "In board meetings, Brian is insightful and never fails to get involved and help."

Brian Lee, BAM Ventures

Notable investments: Honey, Thrive Market, Modern Animal, PrettyLitter, FuboTV

Which kinds of startups he invests in: BAM Ventures invests in pre-seed and seed-stage consumer and commerce enablement startups. Average check sizes are $500,000 for initial investments and up to $1 million for follow-on investments.

Why he's on the list: Lee is the elder statesman of the LA tech scene — the BAM Ventures managing director is a three-time startup founder, launching the high-profile tech and consumer companies LegalZoom, ShoeDazzle, and The Honest Company (with Jessica Alba). Lee moved from operating to investing in 2014, cofounding BAM Ventures. There, the investor has boasted impressive returns on investments like the couponing startup Honey, which turned a $150,000 pre-seed check into a $45 million payout after PayPal bought the company for $4 billion in 2019, Pulse 2.0 reported.

Carter Reum, M13

Notable investments: Ring, Daily Harvest, Rothy's

Which kinds of startups he invests in: Leads seed ($1 million to $4 million checks) and Series A rounds ($5 million to $12 million checks) in startups focused on the future of commerce, Web3, and the creator economy.

Why he's on the list: Reum and his brother, Courtney, cofounded M13 in 2016 soon after selling Veev, their vodka brand, for a hefty multiple. Carter Reum has become famous outside tech circles since he married Paris Hilton in 2021, but inside the LA venture community he's known as a relentless worker and tireless fundraiser. The firm has an expansive office in Santa Monica as well as a large presence in New York. 

"I pride myself on always having a microscope in one eye (focused on the day-to-day details) and a telescope in the other (focused on the long-term and strategic)," Reum said.

Dana Settle, Greycroft

Notable investments: Acorns, Bird, Goop, Merit Beauty, Seed Health, Thrive Market, Versed

Which kinds of startups she invests in: Consumer, fintech, healthcare, and enterprise-software companies mostly at the Series A stage.

Why she's on the list: Settle founded Greycroft in 2006. As a founder herself, Settle is especially friendly to entrepreneurs, rival VCs told Insider. "She is disarmingly welcoming while also highly analytical," one person said of Settle. "As a former founder, she can relate deeply to founders and works closely with her portfolio companies."

Other people described her as "one of the best" and "excellent at grasping societal and business trends well before others, helping her see opportunities early."

Before founding Greycroft, Settle was a VC at Mayfield and an analyst at Lehman Brothers.

Derek Norton, Watertower Ventures

Notable investments: Wondery, Mothership

Which kinds of startups he invests in: Pre-seed and seed across sectors, with check sizes ranging from $500,000 to $1.5 million on the first check and up to $3 million for follow-on capital. Norton also runs a lab program for founders at the earliest stage of their company formation, with checks of $100,000 to $250,000.

Why he's on the list: Fellow VCs praised Norton's relentless hustle and described him as a great collaborator. The three-time founder made a prescient early bet on Wondery, a podcasting studio that Amazon acquired in 2020 for $300 million. 

Dovi Frances

Notable investments: Tipalti, TripActions, Sunbit

Which kinds of startups he invests in: Fintech companies with defensible technology moats that disrupt large inefficient markets with regulatory barriers to entry. Group 11 aspires to be the first and largest investor on the cap table, join the board of directors, and make follow-on investments as the company scales, Frances told Insider. 

Why he's on the list: Frances very much flies under the radar in LA, probably because most of the fintech companies he backs are headquartered elsewhere and he spends a considerable amount of time in his home country of Israel. But Frances' investment returns, which he's unusually open about sharing, are enviable. He was an early investor in TripActions, one of the few startups expected to go public this year.

Dustin Rosen, Wonder Ventures

Notable investments: Whatnot, Honey, Clutter 

Which kinds of startups he invests in: Pre-seed startups in Southern California, mostly in consumer and B2B. Check sizes range from $500,000 to $1 million.

Why he's on the list: Rosen is one of the most active and successful investors in very young LA companies. He says more than 90% of the startups his firm has backed are in Southern California, which he says makes it the highest percentage of any firm. Rosen wrote the first check into Whatnot, a livestreaming platform that was most recently valued at $3.7 billion. 

"I think he's not afraid of sticking to his thesis and going against the grain, and when it works out for him it works out big," one rival VC said.

Eva Ho, Fika Ventures

Notable investments: Specright, Elementary, WeeCare, Zentist, Chowbus

Which kinds of startups she invests in: Seed-stage startups that use data, artificial intelligence, or automation, with check sizes ranging from $1 million to $5 million.

Why she's on the list: Founders and VCs alike praised Ho's dedication to building a thriving LA tech ecosystem. Before cofounding Fika, the investor was a founding general partner at Susa Ventures, an early-stage VC firm in San Francisco, and brought her investing know-how when she moved to Los Angeles. She also relates to the founders she advises through her own entrepreneurial experience as the founder of Navigating Cancer and an early employee at Applied Semantics, Factual, Google, and YouTube.

Ho is also passionate about improving the communities she's a part of, whether as a founding member of All Raise, a nonprofit supporting female founders and VCs, or as a board member for the philanthropic organization California Community Foundation.   

Gaby Goldberg, The Chernin Group

Notable investments: Branch, Arkive, Jia, Guild.xyz, Genesis

Which kinds of startups she invests in: Consumer and crypto

Why she's on the list: A finalist for Insider's rising stars of VC in 2022, Goldberg has been making waves as a go-to investor for startups at the intersection of consumer and crypto. The former Stanford student discovered her passion for tech while on a sabbatical in Israel, and she cold-emailed her way to a position at Bessemer Ventures Partners in 2020. She moved to The Chernin Group — and to LA from New York — a year later.

Greg Bettinelli, The Chernin Group

Notable investments: Goat, Ring, Happy Returns, DroneBase

Which kinds of startups he invests in: $25 million to $100 million checks into consumer-related growth companies bridging commerce, content, culture, and community.

Why he's on the list: Bettinelli was widely regarded as the savviest investor at Upfront Ventures, one of LA's most prominent VC firms. He was instrumental in steering the firm's investments in Goat, a sneaker marketplace valued at $3.7 billion, and Ring, a smart-doorbell company acquired by Amazon in 2018 for $1 billion. Last year Bettinelli surprised the LA venture community when he left Upfront to join The Chernin Group, which is more suited to his consumer focus. 

"I pride myself on being very good about 'seeing around corners' to help companies be better prepared and positioned for what is not obvious but may be impactful to the business — including macro trends, micro industry catalysts, competitive and strategic behaviors, and the like," Bettinelli said.

Jamie Montgomery, March Capital

Notable investments: CrowdStrike, Forter, ASAPP, Earnin

Which kinds of startups he invests in: Series B to D, mostly in cloud and data infrastructure as well as AI software and cybersecurity. The latest fund will invest $10 million to $25 million initially and then increase the investment in further rounds with up to $75 million into any one company.

Why he's on the list: While most LA VCs focus on the youngest startups, Montgomery is one of the few to be writing big checks at later stages and holding on to stakes as companies like CrowdStrike go public. He's a longtime fixture in the LA tech scene; for two decades he's hosted the Montgomery Summit, an annual conference for investors and founders in Santa Monica.

"What we do is not complicated, but it is difficult," Montgomery said. "Asking the right questions and helping the entrepreneur succeed by bringing our experience and resources to bear is our value add."

Jesse Draper, Halogen Ventures

Notable investments: Skimm, ThirdLove, HopSkipDrive, The Flex Company, Squad, Eloquii, This is L, Trust and Will, Ellevest, Babylist

Which kinds of startups she invests in: Early stage consumer technology startups led by female and co-ed teams

Why he's on the list: Even though Draper is a fourth generation VC, it wasn't always clear that she would follow the footsteps of her father, high-profile investor and founder Tim Draper, into the world of investing. She originally started her career in media, appearing on Nickelodeon's "The Naked Brother's Band" and creating the Emmy-nominated series "The Valley Girl Show," where she interviewed business leaders like Ted Turner, Mark Cuban, and Sheryl Sandberg.

Draper began dipping her toes into VC through angel investing, before starting her own firm, Halogen Ventures, in 2015. Since then, the general partner has made quite the name for herself, supporting high-profile female-led startups like The Flex Company and ThirdLove. Draper has become a leading figure in the LA tech community for encouraging diversity and inclusion in startup funding.

Joe Guzel, Haven Ventures

Notable investments: Chime, Step, Novo, Roofr, Denim, AutoFi, Clyde, Arro Finance, HamsaPay

Which kinds of startups he invests in: Pre-seed or seed-stage consumer, enterprise-software, fintech, and blockchain-enabled fintech startups, with a typical check size of $1 million to $2 million.

Why he's on the list: Guzel's savvy investments in hot fintech startups like Chime, Step, and Novo while at Crosslink Capital put the investor on the map. Now, as a cofounder and managing partner at the early-stage VC Haven Ventures, Guzel brings his valuable experience as both a fintech operator and an investor to his portfolio.

Josh Diamond, Walkabout Ventures

Notable investments: Flex, SentiLink, HMBradley, Clair, Capitalize

Which kinds of startups he invests in: Seed-stage fintech startups. Checks range from $1.5 million to $3 million, with an average size of $1.8 million.

Why he's on the list: An LA native, Diamond is a hallmark of the city's venture-capital scene. Diamond has spent his entire professional career in VC, first as an investor at Clocktower Technology Ventures and then as the founder and general partner at Walkabout Ventures. There, the investor dives deep into the financial-technology industry; one peer VC described him as "a master of the fintech space."

Kevin Zhang, Upfront Ventures

Notable investments: Path Mental Health, Reveleer, Bionaut Labs, Pragma, Omni Creator Products

Which kinds of startups he invests in: Mostly lead checks of $1 million to $5 million into pre-seed and seed healthcare and gaming startups.

Why he's on the list: As a partner at Upfront Ventures, Zhang leads the VC firm's healthcare and gaming investments, drawing from his experience in healthcare software and his passion for gaming. Though the two fields may seem vastly different, peer VCs told Insider that Zhang has quietly and consistently built an airtight track record in both, gaining him the respect of founders and investors alike. 

Mark Mullen, Bonfire Ventures

Notable investments: The Trade Desk, Scopely, EV Connect, Openpath, Involve

Which kinds of startups he invests in: Seed-stage B2B software companies, with a minimum check size of $2 million.

Why he's on the list: Mullen is known in the LA tech scene as an effective collaborator who goes to bat for his companies. He was an early investor in The Trade Desk, a media-buying platform that went public in 2016, and Scopely, a mobile gaming company that has become one of the most valuable LA startups. Mullen not only runs Bonfire but invests his personal fortune as a limited partner in numerous other LA venture-capital firms.

Michael Palank, MaC Venture Capital

Notable investments: Medu, Galvanick, Xona Space Systems, Zigazoo, Epsilon3

Which kinds of startups he invests in: Seed-stage startups across industries including aerospace, supply chain, cybersecurity, and artificial intelligence, with an average check size of $2.5 million.

Why he's on the list: Though he began his career in LA's fast-paced media-and-entertainment industry, Palank got his first taste of the tech scene in 2012 at the incubator turned VC firm Amplify LA and hasn't looked back. Now Palank leverages his background as both an investor and a startup founding member and early employee to advise portfolio companies. As a general partner at MaC Venture Capital, he focuses on seed-stage consumer and enterprise startup investing across industries from cybersecurity to apparel.

Michael Tam, Craft Ventures

Notable investments: Complyant, First Resonance, Pipe, Shef, Vendr

Which kinds of startups he invests in: Tam invests in seed- and growth-stage marketplaces, sales and marketing startups, vertical software, and developer tools. Check sizes range from from $1 million to $60 million, and Craft prefers to lead rounds.

Why he's on the list: Tam is an expert at identifying rocket-ship seed-stage startups, his VC peers told Insider, with a track record that includes buzzy companies like the fintech Pipe and the software-procurement startup Vendr. Before joining Craft, Tam was an investor at the seed-stage VC firm Crosscut Ventures. In addition to his investing experience, Tam has spent time sharpening his operating chops at early-stage startups, managing Uber's business in Southern California and launching L, an e-commerce startup that Procter & Gamble acquired in 2019.

Minnie Ingersoll, TenOneTen Ventures

Notable investments: SparkPlug, Windfall, Optimal Dynamics, Beyond Trucks

Which kinds of startups she invests in: Technical founders building B2B software and data companies. A typical check is usually $1 million, and the firm prefers to lead a seed round when the entrepreneur is raising $2 million to $4 million.

Why she's on the list: Go to any tech event in LA and you'll more likely than not see Ingersoll making introductions or perhaps even letting loose on the dance floor. She was one of the most popular VCs in our survey, with peers citing her warm personality, endless energy, and eagerness to assist others. Ingersoll also hosts the podcast "LA Venture," where she has quizzed over 170 local VCs on their investment strategies. 

"Minnie is everything you want in a VC," one of Ingersoll's competitors said anonymously in the survey. "She is supportive, patient, connected, helpful when needed, always available and present, and has been an operator so understands what a founder is going through."

Another VC described her as "disarmingly welcoming while also highly analytical."

Peter Pham, Science

Peter Pham, Science

Notable investments: Dollar Shave Club, Liquid Death, PlayVS 

Which kinds of startups he invests in: Pre-seed and seed, with a venture studio to incubate very young companies.

Why he's on the list: Pham, a prolific Twitter user, says in his bio that he's the first on the dance floor. Pham can frequently be found at tech parties around LA busting a move, often clutching a Liquid Death, the canned water from the company that he was an early investor in and that's now valued at $700 million. Pham has perplexed and even alienated many VCs with his views on COVID-19 and other hot-button topics, but his success with consumer brands like Dollar Shave Club, which Unilever bought in 2016 for $1 billion, and now Liquid Death is undeniable. 

Rachel Springate, Muse Capital

Notable investments: Mahmee, Cofertility, Kinside, Flickplay, Beekeeper's Naturals, Wonder Works

Which kinds of startups she invests in: Pre-seed and seed stage consumer tech startups in sectors like women's health, childcare, wellness, sustainability, entertainment, gaming, and Web3, with a focus on underserved markets. Check sizes range from $500,000 to $2 million.

Why she is on the list: Springate is willing to put her money where her mouth is when it comes to supporting diversity in the LA tech ecosystem: Her bio on Muse Capital's website indicates half of her portfolio companies are led by women and minorities. Muse Capital, the VC firm Springate cofounded with Assia Grazioli-Venier, is focused on supported underrepresented entrepreneurs. As an investor, Springate brings her background in entertainment to the consumer companies she advises. 

Raj Ganguly, B Capital Group

Notable investments: Icertis, Innovaccer, FalconX, GrayMatter Robotics, Odeko

Which kinds of startups he invests in: Early- and growth-stage companies focused on software, healthcare, fintech, and insurtech, with checks of $250,000 to $10 million for venture investments and $10 million to $150 million for growth investments.

Why he's on the list: As a founding partner at B Capital Group, Ganguly offers more than his 18 years of investing experience to the startups he works with — B Capital's partnership with the consulting firm BCG also provides portfolio companies a network of consulting resources to address their business challenges. A peer VC told Insider that Ganguly's experience as a founder of the VC firm Velos Partners has accelerated B Capital Group's transformation into a "large, important LA institution."

Shamin Walsh, BAM Ventures

Notable investments: Clutter, ProducePay, MeUndies, Thrive Market, Tala

Which kinds of startups she invests in: BAM Ventures invests in pre-seed and seed-stage consumer and commerce enablement startups, with the possibility of follow-on Series A investments for portfolio companies. Average check sizes are $500,000 for initial investments and up to $1 million for follow-on investments.

Why she's on the list: As an angel investor for over 13 years, Walsh nabbed coveted early investments in unicorns like Flexport and public companies like Sweetgreen. Now, as a managing director at the early-stage VC firm BAM Ventures, the investor focuses on consumer brands, products, and technologies. Peer VCs told Insider that Walsh is known for her keen eye for up-and-coming consumer trends, allowing her to identify standout founders and startups early.

Spencer Rascoff, 75 & Sunny

Notable investments: Pacaso, Flyhomes, Relativity, SpaceX, Carta

Which kinds of startups he invests in: Mostly seed-stage companies in proptech and the future of work and those working to bridge Silicon Valley and Hollywood. Check sizes range from $50,000 to $5 million.

Why he's on the list: Since leaving the real-estate giant Zillow, where he was a CEO and cofounder, and returning to LA in 2019, Rascoff has made a splash in the LA tech scene. He's invested in and mentored a host of startups, started another real-estate company (Pacaso) that rocketed to unicorn status in a matter of months, hosted parties for founders and investors at his Brentwood mansion, and started a publication (Dot LA) to cover the LA tech scene. 

Rival VCs praised Rascoff's generosity with his time despite his hectic schedule, and his long and successful operational track record. Rascoff said he brings experience as a cofounder of eight startups to the table as an investor. 

"I've seen a lot of things go very right in my time at Zillow, Hotwire, and Pacaso, but I've also seen a lot go wrong," Rascoff said. "As an investor during good times, I spend a lot of my time working with founders on growth strategy, hiring, and culture building, and in tougher times (like today), I spend a lot of my time helping founders extend runway, shore up new capital, and manage employees and investors."

Tracy Gray, The 22 Fund

Notable investments: Sienna Naturals, Re-Nuble, Repurpose, OpConnect

Which kinds of startups she invests in: Gray invests in manufacturing companies with transformative technology, strong governance, positive social impact, and, ideally, underrepresented founders. She tends to focus on companies outside Silicon Valley that don't necessarily adhere to traditional Series A through E funding-round classifications. Gray insists on developing an in-depth understanding of a company's technology, supply chain, and target market before investing. "We get those entrepreneurs who come and say, 'Oh, we have two weeks before we close, blah blah blah,'" she said. "We're like, 'Go ahead and close. We don't play that game. We're not going to rush.'" 

Why she's on the list: Gray's approach to venture investing is driven by two major impulses: her extensive experience as a systems engineer and her commitment to fundamentally transforming her industry. She started her career as an engineer working on the space-shuttle program and brings that level of rigor and analytical thinking to her investing process. Gray says all investment decisions at The 22 Fund are made based on logic and a deep understanding of a company's technology rather than hype. In addition to the goal of transforming manufacturing, The 22 Fund is an impact fund with a goal of giving underrepresented founders a seat at the table. "Since I got into venture capital, my goal has been to change the way it looks," Gray said, adding that when she started in VC nearly all the founders and investor she encountered were white men. "It didn't make sense to me, an engineer who works on logic and evidence, that we were only investing in what was a shrinking market."

TX Zhuo, Fika Ventures

Notable investments: Figs, Policygenius, Pipe, BuildOps, Papaya Payments

Which kinds of startups he invests in: $1 million to $5 million checks into seed-stage fintech, enterprise-software, marketplace, and healthcare-IT startups, with a preference to lead or colead.

Why he's on the list: After spending over a decade in venture, Zhuo is an investor respected far beyond SoCal. Peer VCs described him as "authentic" and "whip-smart," and founders told Insider that the Fika Ventures general partner makes himself readily available and sticks with founders through a startup's highs and lows. Before cofounding Fika Ventures, Zhuo spent time at the early-stage VC firms Karlin Ventures and Innovation Endeavors, and he began his professional career as a consultant at McKinsey.

Will Coffield, Riot Ventures

Notable investments: Shield AI, Parallel Systems, Route, Elementary, Oxide Computer

Which kinds of startups he invests in: Seed and growth rounds in defense and logistics startups, with checks ranging from $1 million to $50 million.

Why he's on the list: Coffield spent six years at Saturn Partners, based in Boston, before confounding Riot Ventures in 2017. While other VCs focused on buzzy enterprise-software or consumer startups, Coffield's seed- and growth-stage VC firm dug deep into the highly technical world of robotics and machine learning, covering everything from drones to 3D printing. Since then, Riot has boasted investments in public companies like Toast, which makes restaurant point-of-sale systems, and unicorns like Shield AI.

William Hsu, Mucker Capital

Notable investments: Honey, ServiceTitan, TaskRabbit, Ordermark

Which kinds of startups he invests in: Pre-seed to post-seed, with check sizes ranging from  $100,000 to $6 million.

Why he's on the list: The soft-spoken, low-key Hsu almost never attends tech events or conferences, preferring to let his successful early bets on startups like Honey and ServiceTitan do the talking. Fellow LA investors praised his intellect, quiet work ethic, and strong returns.

"He's super smart, hardworking, and a little under the radar, which is a compliment because he is not self-promotional," one VC said in Insider's survey. "He gets in the trenches with you and doesn't go away until he gets you to the mountaintop."

Another VC added: "He's hands-on in terms of supporting early teams. He's not interested in the hype, just in building good businesses."