News & Opinion

Guardian Media Group launches venture capital fund 'GMG Ventures'

With a new independent £42 million venture capital fund 'GMG Ventures', GMG will invest in early stage businesses focused on developing the next generation of media technology.

GMG Ventures aims to support the development of GMG's core news business in a sector that faces ongoing disruption. The group says that these assets are expected to help accelerate GMG's strategy, or be adjacent and disruptive to the news sector.

Another focus is to achieve long-term financial returns for The Scott Trust, in line with the Trust's other investment funds.

GMG Ventures will consider investments in areas such as:

  • Artificial intelligence and machine learning tools for journalism
  • Advertising technology, including new formats and fraud detection
  • Technology to enrich reader and customer experiences
  • Payment technologies and other customer platforms
  • Tools or platforms allowing readers to act on content that inspires them
  • New forms of content distribution, via audio and voice platforms or virtual, mixed and augmented reality models

The Guardian's existing investment in Founders Factory will also be managed by GMG Ventures.

GMG's chief executive David Pemsel will chair GMG Ventures, while Alan Hudson, who joined GMG as chief investment officer in 2011, will become managing partner of GMG Ventures. Hudson has over 20 years of investing and advisory experience in the media and technology sector.

Jonathan Evans will take over the stewardship of GMG's endowment fund as head of investments. Evans has 30 years of experience in fund management.

Pemsel said: "In a rapidly changing media landscape, GMG Ventures will be an essential addition to the experience, skills and qualities of the Guardian, giving us access to the new ideas and innovation that entrepreneurs bring to the table. GMG Ventures will aim to secure investments in some of the very best new businesses emerging out of the media and tech space in the UK, US and continental Europe."

Hudson added: "GMG Ventures is uniquely positioned to be a value-add investor. The Guardian is well-placed to understand the rapid changes to the news sector and the investment opportunities that disruption presents."

Source: The Guardian

Also this week, the Guardian teams up with ESPN & FourFourTwo for Russia World Cup. 

by Lydia O'Neill 18/10/17

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