Wednesday, June 5, 2013

Bloomberg Launches $75M Investment Fund, Bloomberg Beta

Financial news and data provider Bloomberg said today that it has launched a brand new, $75M venture capital fund called Bloomberg Beta. The fund, which is based in San Francisco, said it will invest in and create new, early-stage technology companies. The fund's sole LP is Bloomberg L.P. According to Bloomberg, the new fund will invest solely for financial reasons, and not for business relationships with the firm. Bloomberg Data said it will initially focus on areas around data (data, technology platforms, content discovery, media distribution), and making work better ((networks and communities, human-computer interaction, and radically new organizational models). The new fund will be led by Roy Bahat.