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- Hollywood Veteran’s Investment Firm, WndrCo raises $460M
Hollywood Veteran’s Investment Firm, WndrCo raises $460M
dot.LA Weekly Update
🔦 Spotlight
Image Source: WndrCo
Jeffrey Katzenberg, known for his prominent roles in the entertainment industry, has redirected his focus towards technology investments with his firm WndrCo. Following the setback of Quibi, a short-form entertainment platform, Katzenberg and his founding partner Sujay Jaswa raised over $460 million in capital commitments for their Seed and Venture funds. With notable backgrounds in the entertainment and venture capital industries, Katzenberg and Jaswa manage $1.3 billion in assets through their Build, Venture, and Seed strategies.
The firm's Build strategy focuses on acquiring controlling stakes in tech companies like Aura and Pango to transform them into category leaders, while the Venture strategy targets founders reshaping industries, with investments in companies like 1Password and Airtable. Additionally, WndrCo's Seed fund invests in early-stage entrepreneurs, with a focus on startups innovating in areas such as the future of work, consumer technology, cybersecurity, and developer infrastructure.
WndrCo's recent fundraising success comes amidst a heightened focus on technology solutions that address previously unsolved problems, with a particular emphasis on artificial intelligence (AI). The firm plans to deploy its new funds to invest in innovative startups and create one or two new companies each year. With an average check size of $500,000 for seed investments and a growing interest in venture capital opportunities, the firm's investment strategy is tailored to capitalize on emerging trends in internet safety and AI-driven innovations, with a portfolio geared towards both innovation and protection.
🤝 Venture Deals
LA Companies
Mint Blockchain, a maker of an Ethereum layer 2 for the NFT industry, raised a $5M Seed Round from Jsquare, SNZ Capital, Antalpha Ventures, Mask Network, BlockAI Ventures, Predator Capital, GoPlus, Whitelist Ventures, and Panony Group. - learn more
LA Venture Funds
Wavemaker Three-Sixty Health participated in a $20M Series A for Materna Medical, a developer of women's pelvic health devices. - learn more
Chapter One participated in a $43M Series A for Avail, a startup that allows blockchain developers to add essential functions like consensus, security, data availability, and execution in separate modules. - learn more
Nvidia participated in a $50M Series A for Twelve Labs, an AI company focused on video understanding. - learn more
LA Exits
Webtoon Entertainment, an online comics platform doing more than $1B in revenue, has filed to go public. - learn more