BERTELSMANN RAISES CASH
FOR U.S. MEDIA INTERESTS
Bertelsmann Ventures said Thursday it formed a new $250 million venture fund made up of commitments from several high-profile international investors.
The new fund, Bertelsmann Ventures Capital Fund II, includes investments from Bertelsmann Ventures, AOL, Beisheim Holding, Stanford University and Vereins und Westbank. Capital Fund II succeeds the unit's first offering, a private equity fund formed with $75 million in capital from Bertelsmann, the sole partner.
While the unit's first fund focused on seed and early stage investments, financing a dozen new Internet companies in the areas of e-commerce, content and community, Capital Fund II will make investments in Internet media, services and infrastructure opportunities in the United States and Europe.
Bertelsmann Ventures' portfolio includes Internet firms such as eGroups, Expertcity.com, Riffage, Imandi.com, BeMany, MusicBank, NuvoMedia and Evenbetter.com.
In related news, Yahoo said last Wednesday that it would acquire a Bertelsmann Ventures portfolio company, eGroups, for 3.4 million shares of Yahoo stock. The deal was valued at $428 million.
HIPGNOSIS BOARD APPROVES UPPED BLACKSTONE BID
But it ain't over till it's over. (4/29a)
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THE NEW UMG
Gosh, we hope there are more press releases.
TIKTOK BANNED!
Unless the Senate manages to make this whole thing go away, that is.
THE NEW HUGE COUNTRY ACT
No, not that one.
TRUMP'S CAMPAIGN PLAYLIST
Now 100% unlicensed!
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JAMES KING: THE HITS INTERVIEW (PART ONE)
