Palomar Ventures, an early-stage venture capital firm, has promoted Brian Garrett to partner and added Kevin Jacques as a partner at its Santa Monica headquarters. Garrett joined Palomar in 2001 as an associate and was promoted to principal in 2003. Jacques spent close to six years as a partner with Sevin Rosen Funds, a Texas and California-based early-stage venture firm. Founded in 1999, Palomar invests across most areas of information technology, including enterprise and infrastructure software, wireless and networking communications, storage and digital media. www.palomarventures.com
Santa Monica’s FirstFed Financial Corp., parent company of First Federal Bank of California, announced net income of $32.5 million or $1.92 per diluted share of common stock for the second quarter of 2006 compared to net income of $31.0 million or $1.83 per diluted share for the first quarter of this year. Net income for the second quarter of 2005 was $21.7 million or $1.29 per diluted share of common stock. “The increased earnings primarily resulted from higher net interest income, lower provisions for loan losses and gain on the sale of loans,” the company said. First Federal operates 32 retail banking offices in Southern California and six lending offices in both Southern and Northern California.
Santa Monica resident Mark Cappellano has joined the Board of Directors of Earthwatch Institute, which supports scientific field research by offering volunteers the opportunity to join research teams around the world. Cappellano is a principal, along with his wife Anne-Marie and her family, of Versant Vineyards, the Napa Valley concern in which he manages all aspects of the wine and olive oil business. He has also been a filmmaker and field producer in various genres such as wildlife, entertainment, travel and adventure. “Mark’s background in media and screenwriting, as well as his passion for conservation, will be huge assets for Earthwatch,” said Ed Wilson, President and CEO of the Massachusetts-headquartered institute.
Convergence Capital Partners, LLC, a private real estate investment firm headquartered in Santa Monica, that invests in middle-market sale-leaseback real estate transactions and similar real estate opportunities nationally, has entered into a strategic alliance with Braun, Inc., a valuations, auctions and acquisition services company. Convergence Founder and President Alexander B. Kasdan said, “Our partnership with Braun gives us a tremendous edge over the competition because of our ability to analyze real estate markets and assets nationally….” www.cvgpartners.com
Genius Products, Inc. of Santa Monica announced that its stockholders voted to approve the transaction with The Weinstein Company LLC and that the transaction has closed. The transaction, outlined in a December 2005 written agreement, structures the relationship between the companies with respect to U.S. home video distribution rights, and the marketing, sales and distribution for branded entertainment.