Yet another Southern California new media fund
Yet another venture firm has turned their eyes toward the new media sector, with the latest — Saban Capital — hiring VantagePoint’s Craig Cooper to head up new media investing in Southern California. Cooper said the fund “will scour the U.S. and international markets for opportunities across all investment stages” in an interview with the Hollywood Reporter. The fund is the second within the last few weeks to specifically target new media in Southern California. Last week, William Morris, Venrock, and Accel, along with AT&T, booted up their new fund headed by Richard Wolpert with the same goal — new media investments in Southern California. The new funds follow a yet-to-be announced (or closed, as we hear) fund from Draper Fisher Jurvetson and the CAA also specifically targeting new media in SoCal.
