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Black Diamond Ventures

Overview

Black Diamond Ventures invests in Series B, later-stage and growth capital, with initial and follow-on investments typically ranging from $2 million to $10 million across areas including AI, machine learning, materials science and semiconductors.⁠[1]

Contents5 sections
Key facts

1998Foundation and Offices

Founded in 1998 by Chris Lucas, the firm has offices in Glendale and Los Gatos, California.⁠[2][1][3]

2013Theranos C-1 Financing

The Theranos C-1 financing involving Chris Lucas took place in late 2013. The investment vehicle Black Diamond Ventures XII-B, LLC was later identified as an investor-fraud victim, and Lucas testified about the investment.⁠[4][5]

2023Restitution Ruling

On May 16, 2023, the court awarded Black Diamond Ventures $5,349,900 in restitution, jointly and severally payable by Holmes and Balwani. It listed the investment separately from HALL GroupHALL GroupHALL Group is a privately held business group founded by Craig Hall and based in Dallas, with interests in real estate, financing, wine and venture capital.Open the full entry’s Hall Black Diamond II, LLC; the similar names do not make them the same investment. The amount was an obligation imposed by the order, not evidence of recovery.⁠[5]

Sources

  1. About (opens in a new window)
  2. Black Diamond Ventures (BDV) (opens in a new window)
  3. Contact (opens in a new window)
  4. United States v. Elizabeth A. Holmes; United States v. Ramesh “Sunny” Balwani (No. 22-10312 et al.), Opinion (opens in a new window)
  5. Order on Restitution, United States v. Holmes and Balwani, No. 5:18-cr-00258-EJD, Document 1760 (opens in a new window)