# LDA Capital

LDA Capital is a Private Equity based in Los Angeles, United States.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** Los Angeles, United States
- **Region:** North America
- **Address:** Los Angeles, CA, United States
- **Founded:** 2008
- **Assets under management:** Undisclosed
- **Website:** ldacap.com
- **LinkedIn:** https://www.linkedin.com/company/lda-capital-llc

## Regulatory record

- **Reports private funds:** No

## About

Founded in 2008 by Warren Baker and Anthony Romano, LDA Capital emerged from a cross-border investment and advisory practice focused on complex, multi-jurisdictional transactions. The firm established its base in Los Angeles and built a mandate around late-stage growth and pre-IPO capital, often for companies requiring bridge financing before a public listing or a major liquidity event. LDA Capital operates across venture capital, growth equity, and special situations, with a distinct emphasis on cross-border technology companies. Its strategy spans minority growth investments, pre-IPO convertible structures, and fund-of-funds commitments. The firm has publicly disclosed or confirmed positions in enterprise software, fintech, and mobility companies, including a growth-stage commitment to a European digital health platform and participation in a Southeast Asian mobility company's pre-IPO round. Geographic coverage includes North America, Western Europe, and Southeast Asia. Led by Managing Partners Baker and Romano, LDA Capital has expanded its deal footprint through a lean team structure that sources globally. In January 2024, the firm closed a growth capital facility for a Nasdaq-listed enterprise software company, extending its bridge-financing model to a public-company context (per the firm, January 2024). LDA Capital also manages a fund-of-funds allocation program that gives the firm visibility into manager selection across venture and growth strategies. LDA Capital's structural differentiator is its willingness to act as a bridge investor for companies that are too late for traditional venture but not yet ready — or not yet able — to tap public markets efficiently. This posture gives the firm a niche that blurs the line between a growth-stage direct investor and a structured-credit provider, a combination suited to companies navigating fragmented regulatory environments or listing delays.

## Sectors

- Enterprise Software
- FinTech
- Digital Health
- Mobility & Transportation
- Media & Entertainment

## People

- Warren Baker — Managing Partner
- Anthony Romano — Managing Partner

## Questions

### Who runs investment decisions at LDA Capital?

Warren Baker and Anthony Romano serve as the firm's Managing Partners and lead its investment committee. Both co-founders built LDA Capital from a cross-border advisory practice and remain the primary decision-makers on direct investments and fund allocations.

### How does LDA Capital source proprietary deal flow?

LDA Capital sources transactions through a global network established during its early years as a cross-border advisory practice. The firm targets issuers in Western Europe and Southeast Asia that American growth investors often overlook, and its bridge-financing model attracts companies navigating listing delays or complex regulatory jurisdictions.

### Does LDA Capital participate in fund commitments or only direct deals?

LDA Capital operates both a direct investment program and a fund-of-funds allocation strategy. The direct side focuses on late-stage venture, growth equity, and convertible structures, while the fund commitments give the firm visibility into broader venture and growth manager selection.

### What investment stages does LDA Capital typically target?

LDA Capital concentrates on late-stage venture, pre-IPO rounds, and growth equity. The firm also engages in special situations and bridge financing, often deploying structured capital — including convertible notes — for companies that are between their last private round and a public listing.

### How is LDA Capital structured compared to a traditional venture firm?

LDA Capital operates as an alternative asset manager rather than a traditional venture capital partnership. Its mandate includes direct growth investments, convertible structures, special situations, and a fund-of-funds program, giving it a hybrid posture that is closer to a multi-strategy growth platform than a single-fund venture firm.

### Where does LDA Capital's investment base come from geographically?

LDA Capital's historic transaction footprint covers North America, Western Europe, and Southeast Asia. The firm's early cross-border advisory work gave it operational familiarity with multi-jurisdictional deal execution, which remains a core part of its investment identity.

## Related profiles

- [LC Ventures](https://altss.com/profile/lc-ventures)
- [LD Capital](https://altss.com/profile/ld-capital)

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Last updated: 2026-06-03T20:00:00.000Z

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