8 big corporate venture funds fueling NYC's startup scene

by Taylor Majewski
September 8, 2016

In 2015, the number of active corporate venture capital (CVC) funds hit an all-time high, generating $28.4 billion in funding across 1,301 deals, according to a report by CB Insights.

In New York City, corporate venture capital is infiltrating legacy industries, with the majority of investments spanning media, finance and advertising. Here are some of the most active corporate venture arms in New York City, playing a role in shaping the startup economy:

 

Comcast Ventures, the investment arm of Comcast Corporation, was created in 1999 and is one of the most active CVC firms in New York City. The fund invests in a range of startups from seed to late stage. Specifically, Comcast Ventures focuses on ideas in the advertising, enterprise, consumer and infrastructure spaces. To date, the fund has made 186 investments in 133 startups, including notable companies like Slack, FanDuel, Zenefits, Taboola, Flipboard and Vox Media.

 

 

AOL Ventures is an early-stage venture capital firm that grew out of AOL. The fund has made 42 investments in 26 companies, including Bitly and Betaworks.

 

Backed by Bloomberg, Bloomberg Beta is an early-stage fund. The firm has made 81 investments in 60 companies to date, investing $116 million in 17 startups throughout 2016 alone.

 

Citi Ventures, the investment arm out of CitiGroup, invests in and experiments with startups focused on disrupting financial services. With a mission to “accelerate product roadmaps and expedite commercialization opportunities within Citi,” the fund has made 43 investments in 33 companies, with a portfolio that includes Square, Betterment and Jet.

 

Time Warner Investments was created to generate strategic value for Time Warner and is focused on early-stage to mid-stage investments. To date, the fund has made 74 investments in 49 companies, including Bustle, Mashable, FanDuel, NextVR and YieldMo.

 

Hearst Ventures invests in early-stage companies with a focus on emerging media and interactive technology, the company has made 66 investments in 46 companies and has seen six IPOs and 15 acquisitions. Some of Hearst's most notable investments include Pandora, BuzzFeed, Hootsuite, Roku and Via.

 

R/GA Ventures is the venture arm of advertising agency R/GA, and works with early-stage startups that are exploring new business models using emerging technology. R/GA Ventures operates the R/GA Accelerator, leveraging the agency’s in-house team of designers, creatives and brand strategists to launch successful startups. Since its inception three years ago, the company has made 48 investments in 41 companies.

 

KBS Ventures is the venture arm of global ad agency, KBS, and invests in early stage B2B companies. To date, the company has made 25 investments in 16 companies, including New York-based startups such as Yieldbot, PlaceIQ, CrowdTwist, Indicative, Roost, Mezzobit, Dextro and Adaptly to name a few.

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