Creative Arts Agency, the large talent agency in Hollywood, is raising a $150 million-$200 million venture capital fund to invest in startups in the digital/entertainment sector, according to PaidContent.
PaidContent said Silicon Valley firm Draper Fisher Jurvetson is working with the CAA to help manage the fund. Tim Draper, a lead partner at DFJ, did not deny the report, but told VentureBeat he couldn’t say anything at this time because of regulations that govern the fund-raising process (fund managers are not supposed to make public solicitations).
The report also said Brian Garrett and Rick Smith, former partners at Palomar Ventures, and Brett Brewer, former president of Intermix, are working with Michael Yanover, head of business development at CAA on the project. The money for the fund is coming from traditional LPs.
The report said that rival agency ICM has also been working on raising a fund, and has been in contact with Paul Jacobs, CEO of Qualcomm about the project.
Tags: co:Creative-ARts-Agency, co:ICM, deal, inv:Draper-Fisher-Jurvetson, people:Paul-JacobsOne Comment
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steven speas said:
We are starting a film documentary and art project covering 60 to 90 historic ranches primarily in the west. We have secured some initial capital and are looking to add to it as we gain sponsors and take to the road. We have full financials with projections, as well as some video and art products already being marketed. Does your fund look at projects such as this or could you refer me to some who may.
Thank You
Steven Speas
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9:45 pm
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[...] This news follows earlier reports that valley firm Draper Fisher Jurvetson has been trying to raise a $150 million fund together with Hollywood agency Creative Artists Agency (our coverage). [...]
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[...] a large digital media fund, together with Draper Richards Jurvetson — although it’s still little more than rumor. Beyond investing in promising startups, WMA sees itself as a sort of “extended [...]