Bloomberg, a US-based media group, has launched a $75m early-stage venture capital fund to invest in the US.
The fund, Bloomberg Beta, has already backed Newsle, MkII, Nodejitsu, Codecademy, Errplane and ProsperWorks.
The launch follows the rebranding and departure of its Bloomberg Ventures team that also invested in the UK, led by Matt Turck, who joined venture capital firm Firstmark Capital.
Roy Bahat (pictured), who previously spent five years running IGN Entertainment for media group News Corp, will run the Beta fund alongside Karin Klein, ex-head of new initiatives at Bloomberg and a former venture capitalist (VC) with Softbank, Shivon Zillis (the sole survivor from Bloomberg Ventures), Dan Strickland and James Cham, previously with VC firms Trinity Ventures and Bessemer Venture Partners.