(Credit: James Martin/CNET)
Media outlet Bloomberg will launch a $75 million venture capital fund to
invest in early stage companies.
The fund, called Bloomberg Beta is expected to launch Wednesday, according
to various media reports, but has already invested in nine companies, including
Newsle, Nodejitsu, Codecademy, Errplane, and ProsperWorks, according to VentureBeat.
The independent venture will focus on startups that are "producing
insights from data" and "making the experience of work better,"
according to a news release cited by VentureBeat.
Bloomberg has
invested in tech companies before through Bloomberg Ventures, an incubator that
helped companies that could be combined with Bloomberg products. However, that
effort appears to have been put on ice by the departure of Bloomberg Ventures
cofounder Matt Turck, who left in March to become managing director at
FirstMark Capital.
Roy
Bahat, chairman of video game hardware startup Ouya and former head of IGN
Entertainment, will head up the fund in San Francisco. Bahat will be joined by
Bloomberg executive Karin Klein and James Cham, who was recently a principal to
Trinity Ventures. (source: cnet)
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