Bloomberg Beta will focus on startups that produce insights from data, according to the media outlet. June 4, 2013 11:32 PM PDT (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. Related stories Google drops cash into Lending Club for minority interest Choosing an investor: 5 tips from 5 entrepreneurs Venture capital funding for Q1 slowest since 2003 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.
Bloomberg Beta will focus on startups that produce insights from data, according to the media outlet.
(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.
Related stories
- Google drops cash into Lending Club for minority interest
- Choosing an investor: 5 tips from 5 entrepreneurs
- Venture capital funding for Q1 slowest since 2003
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.
