{"id":4709,"date":"2013-06-05T13:21:21","date_gmt":"2013-06-05T13:21:21","guid":{"rendered":"https:\/\/www.bloomberg.com\/company\/press\/bloomberg-beta-launches-with-75-million-technology-venture-fund\/"},"modified":"2013-06-05T13:21:21","modified_gmt":"2013-06-05T13:21:21","slug":"bloomberg-beta-launches-with-75-million-technology-venture-fund","status":"publish","type":"press","link":"https:\/\/www.bloomberg.com\/company\/press\/bloomberg-beta-launches-with-75-million-technology-venture-fund\/","title":{"rendered":"Bloomberg Beta Launches with $75 Million Technology Venture Fund"},"content":{"rendered":"
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SAN FRANCISCO — Bloomberg L.P. today announced the launch of
\nBloomberg Beta, a $75 million venture fund to invest in and
\ncreate early-stage technology companies. Bloomberg Beta, in
\nkeeping with Bloomberg L.P.\u2019s longstanding pattern of
\nentrepreneurialism, is focused on backing and working alongside
\nexceptional founders. Bloomberg Beta exists to expand Bloomberg
\nL.P.\u2019s horizons by investing in and creating companies within
\nBloomberg\u2019s broad areas of interest. <\/p>\n

Set up as a true fund, Bloomberg Beta will invest for financial
\nreturn, selecting companies independently of their current or
\nfuture business relationship with Bloomberg L.P. <\/p>\n

\u201cBloomberg Beta is a natural extension of the entrepreneurial
\nspirit and culture of Bloomberg,\u201d said Daniel Doctoroff, CEO and
\nPresident of Bloomberg LP. \u201cWe\u2019re guided by the belief that the
\nbest investors are entrepreneurs and the best entrepreneurs are
\ninvestors. Through Beta, we get to back and build breakthrough
\ncompanies in the areas we care about, and entrepreneurs get an
\ninvestor whose interest is fully aligned with theirs.\u201d <\/p>\n

Bloomberg Beta\u2019s initial focus areas are producing insights from
\ndata (data, technology platforms, content discovery, media
\ndistribution) and making the experience of work better (networks
\nand communities, human-computer interaction, and radically new
\norganizational models). <\/p>\n

In these areas, Bloomberg Beta\u2019s first announced investments are
\nNewsle, MkII, Nodejitsu, Codecademy, Errplane and ProsperWorks. <\/p>\n

\u201cBloomberg L.P. is itself a template for startups – first to
\nsucceed in its market, founded on a big idea, with a strong
\nculture, and guided by its founders for three decades,\u201d said Roy
\nBahat, head of Bloomberg Beta. \u201cWith Bloomberg Beta we can
\nnurture the new generation of technology companies built on this
\ntemplate. We\u2019re entrepreneurs at heart, and we want to invest
\nand make companies. We\u2019re fortunate to have a patient backer in
\nBloomberg L.P., which has seen firsthand the rewards to growing
\nan extraordinary company over time.\u201d <\/p>\n

Led by Roy Bahat, a technology business operator and
\nentrepreneur, the Bloomberg Beta team is comprised of
\nexperienced company operators and investors: <\/p>\n

Roy Bahat in San Francisco, prior to founding Bloomberg Beta,
\nled IGN Entertainment for five years, an online media company
\nthen owned by News Corporation. He is chairman of OUYA, the
\nventure-backed hardware startup, and has served on the boards of
\nRevision3 (through its acquisition by Discovery) and Flixster
\n(through its purchase by Warner Bros.). Roy teaches media at UC
\nBerkeley, and is a board member at educational non-profit
\nCodeNow. He is a graduate of Harvard College and was a Rhodes
\nScholar. <\/p>\n

Karin Klein in New York heads Bloomberg Beta\u2019s investing
\nactivities on the east coast. She is the former head of new
\ninitiatives at Bloomberg and previously was vice president at
\nSoftbank\u2019s venture fund. At Softbank, Karin sourced and served
\non the board of Buddy Media prior to its acquisition by
\nSalesforce. She also was the co-founder and president of an
\neducational training business for children. Karin currently
\nserves on the advisory board of L\u2019Oreal\u2019s Women in Digital and
\nis a mentor with TechStars, New York City Economic Development
\nCorporation and several other startup accelerator programs. She
\nhas an M.B.A. from The Wharton School and is a summa cum laude
\nand Phi Beta Kappa graduate of the Annenberg School of
\nCommunications and The Wharton School of the University of
\nPennsylvania.
\nJames Cham in Palo Alto was most recently a principal at Trinity
\nVentures where he focused on consumer services, enterprise
\nsoftware and digital media investments. Previously he was vice
\npresident at Bessemer Venture Partners where he was instrumental
\nin eight new investments and a number of seed ventures. He has
\nan M.B.A. from the Massachusetts Institute of Technology and was
\nan undergraduate in computer science at Harvard College. <\/p>\n

About Bloomberg <\/p>\n

Bloomberg, the global business and financial information and
\nnews leader, gives influential decision makers a critical edge
\nby connecting them to a dynamic network of information, people
\nand ideas. The company\u2019s strength – delivering data, news and
\nanalytics through innovative technology, quickly and accurately
\n– is at the core of the Bloomberg Professional service, which
\nprovides real time financial information to more than 315,000
\nsubscribers globally. Bloomberg\u2019s enterprise solutions build on
\nthe company\u2019s core strength, leveraging technology to allow
\ncustomers to access, integrate, distribute and manage data and
\ninformation across organizations more efficiently and
\neffectively. Through Bloomberg Law, Bloomberg Government,
\nBloomberg New Energy Finance and Bloomberg BNA, the company
\nprovides data, news and analytics to decision makers in
\nindustries beyond finance. And Bloomberg News, delivered through
\nthe Bloomberg Professional service, television, radio, mobile,
\nthe Internet and three magazines, Bloomberg Businessweek,
\nBloomberg Markets and Bloomberg Pursuits, covers the world with
\nmore than 2,400 news and multimedia professionals at 146 bureaus
\nin 72 countries. Headquartered in New York, Bloomberg employs
\nmore than 15,000 people in 192 locations around the world. <\/p>\n

About Bloomberg Beta <\/p>\n

Bloomberg Beta is a $75M fund capitalized by Bloomberg L.P. that
\nbacks and builds breakthroughs. Bloomberg Beta believes the best
\ninvestors are entrepreneurs and vice versa. It is focused on
\ninvestments in areas broadly of interest to Bloomberg L.P., and
\ninvests purely for financial return. Bloomberg Beta is
\nheadquartered in San Francisco with a presence in New York. For
\nmore information visit www.bloombergbeta.com. <\/p>\n

Contact for Bloomberg:
\nAngela Martin, +1 415-617-7142, angelamartin@bloomberg.net<\/a>\n <\/p>\n<\/p>\n<\/div>\n\n<\/div>\n\n\n<\/div>\n\n\n\t\t\n\t<\/div>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"

New VC to Invest In and Create Companies – Patient Capital
\nInvested for Financial Return; Sees Bloomberg L.P. as a Template
\nfor Startups <\/p>\n","protected":false},"featured_media":0,"template":"","format":"standard","categories":[17],"press_tag":[],"class_list":["post-4709","press","type-press","status-publish","format-standard","hentry","category-press-announcement"],"yoast_head":"\nBloomberg Beta Launches with $75 Million Technology Venture Fund | Press | Bloomberg LP<\/title>\n<meta name=\"description\" content=\"New VC to Invest In and Create Companies – Patient Capital Invested for Financial Return; Sees Bloomberg L.P. as a Template for Startups\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bloomberg.com\/company\/press\/bloomberg-beta-launches-with-75-million-technology-venture-fund\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bloomberg Beta Launches with $75 Million Technology Venture Fund | Press | Bloomberg LP\" \/>\n<meta property=\"og:description\" content=\"New VC to Invest In and Create Companies – Patient Capital Invested for Financial Return; 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