Primedia invests in net

$20 mil private fund for tech-driven opps

NEW YORK — Primedia Inc. announced it has committed a pool of $20 million to Primedia Ventures — a private fund to invest in early-stage Internet companies and other technology-driven opportunities.

The fund is being headed by Larry Phillips, who joined Primedia in 1995 as corporate staff director of new media. Phillips, 31, previously worked at Unterberg Harris as an investment banker specializing in information technology.

Primedia Ventures’ first investment is in a joint venture between Primedia publication Modern Bride and Internet Gift Registries. The venture will attempt to bring electronic commerce to the $8 billion wedding-registry market. “Although it’s prototypical,” Phillips said of the investment, “we’re also interested in doing ventures with not as tight elements.”

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Digital News from Variety

Loading