Comstock's magazine 1218 - December 2018 - Page 41

Lokesh Sikaria (center) founded Moneta Ventures in 2013 and prioritizes investment in local companies. PHOTO: TERENCE DUFFY Capital, AGR Partners and the Sacramento Angels. Asked to ballpark the total pool of capital across all of these fund- ing sources, Sikaria estimates $500 million, with about half of that actively invested. (Other local investors gave similar estimates.) But is that pool of capital enough? More specifically, is there a sufficient pool to support the existing entrepreneurs who are already in the region, and is that pool big enough to lure companies from Silicon Valley? “I start from the premise that if it’s a good deal, you’ll al- ways find the capital,” says James Beckwith, CEO of Five Star Bank (and Comstock’s editorial board member), which re- cently launched a program called Bank Tank that connects investors with hopeful entrepreneurs. “In my view, there’s no lack of capital for the organizations that are worthy.” Maybe so, but others want to see more. “We probably need at least another three Monetas,” says Barry Broome, CEO of Greater Sacramento Economic Council, which has been trying to recruit startups to the region. “Having more funds would give us the ability to have a lot of eyes on deals, and the ability to share risk. Some people will tell you that there’s not enough deal flow for two or three more funds, December 2018 | 41