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PROVENANCE VENTURES ANNOUNCES FIRST INVESTMENT
Firm Demonstrates Commitment To Socially Forward Ventures Focus With First Investment
CTIA WIRELESS I.T., Los Angeles, Sept. 12, 2006
During the CTIA Wireless I.T. conference held this week in Los Angeles, Provenance Ventures, an early-stage venture capital firm,
reported that the firm has invested in Jacked, a participatory media and technology company centered on closing the loop between
broadcast and IP-based media. The investment monies will be used to fund Jacked's product development efforts.
"The Jacked investment is indicative of Provenance's commitment to focus on socially forward technology companies that focus on advancing society in a meaningful way," said Bryan Biniak, founder and managing director for Provenance Ventures. "The Jacked team has a passionate commitment to bringing the power of participatory media to broadcasting, and a stellar track record for bringing technologies and consumer products to life."
Provenance Ventures launched last month with the closure of the firm's first Fund at $10 million. At that time, the firm reported that the first Fund will focus on early stage media and communication companies worldwide and plans to make 20 to 40 investments over the life of its first Fund, with total investments ranging from $250,000 to $500,000 per company.
Biniak continued, "We're pleased with the early deal flow directed towards Provenance's first fund, and optimistic about the opportunities to bring social advancement through for-profit technology ventures."
Attendees of the CTIA Wireless I.T. Conference will be able to hear more from Provenance's Managing Director as he moderates a case study session discussing the "The Talent, The Brand, The Device" featuring Motorola, and Yahoo on Sept. 13, 2006 at 3:45 p.m. in room 411 at the Los Angeles Convention Center.
Contact
Elizabeth Villanueva or
Valerie Christopherson
Global Results Comms. (GRC)
+1 949 608 0276
valeriec@globalresultspr.com
lizv@globalresultspr.com
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