tirsdag 23. februar 2010

ErGo Media Capital to pour money into media, game and entertainment startups

ErGo Media Capital is launching today to invest venture capital and private equity into entertainment and media firms.
The New York-based company is headed by Matt Littin, who was co-founder of Cinetic Media. The company plans to invest as much as $15 million per deal, but it did not say how much money it has raised altogether. The fund is backed by ErGo Ventures, a private investment firm with holdings in aerospace, food and wine, real estate and technology.
The company will fund companies in film, video games, music, TV, and new media. It will focus on both small and large companies.
“With revolutionary changes taking place in technology and consumer behavior, and a historic recession further pressuring traditional business models, the entertainment and media landscape is being reshaped,” said Littin in a statement.
The idea is to position the company ahead of the big trends at a time when startup financing is relatively tight. The company will pursue opportunities on its own and in partnership with other strategic investors such as video game publishers, film distributors and VCs. It will consider a variety of investment types.
Littin spent 10 years at entertainment and media advisory firm Cinetic Media and its predecessor Sloss Special Projects. One of his big specialties was brokering key deals such as getting international distribution for big film companies. Littin has participated in the sale of more than 150 films, including Little Miss Sunshine, Super Size Me, and Napoleon Dynamite.
The company was founded this year and has three employees.
Please check out our GamesBeat@GDC executive game conference at the Game Developers Conference on March 10. And if you’re a game entrepreneur, consider entering the Who’s Got Game contest for best game startup. Finalists will go up on stage at GamesBeat@GDC.

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