Germany-based media group Bertelsmann has promoted Jan Borgstädt (pictured) to head of Europe for its local corporate venturing unit.
The Bertelsmann Digital Media Investments (BDMI) unit has also committed to its third seed-stage investment fund managed by third parties and been expanding its separate Asian corporate venturing operation.
On his LinkedIn page, Borgstädt said he been promoted after nearly four years as principal to head of European ventures at BDMI at the start of the month. Urs Cete remains head of BDMI based in New York, US, following the departure of Richard Sarnoff to private equity firm Kohlberg Kravis Roberts in January.
In a presentation at the European Venture Club conference in France last month, Borgstädt said BDMI had also committed to its third venture capital fund investing in European start-ups.
In his presentation (click here), he said BDMI had committed to the second SeedCamp fund in the UK, as well as one in France (ISAI) and to the launch of a €25m ($35m) early-stage internet and digital media fund in Spain, Cabiedes & Partners. In Asia, Bertelsmann has also committed to the Innovation Works Development Fundset up by a former China head of Google.
BDMI has been one of the most successful corporate venturing units in media, having co-invested alongside Pelion Venture Partners in mobile advertising network Mojiva and online games developer Trion Worlds, alongside strategic peers Comcast Ventures and Time Warner Investments.
In July, BDMI and DuMont Venture, the corporate venturing unit of local publisher DuMont, acquired joint control of online training company LearnShip, according to a regulatory filing with the European Commission. In October, BDMI said it had acquired its stake in LearnShip from previous investors after being a customer in the portfolio company, along with Panasonic, Pfizer and ThyssenKrupp.
BDMI’s parent has also been building up its separate Bertelsmann Asia Investments (BAI) team in China for the past three years under its managing director, Annabelle Yu Long. It hired Wayne Shiong as a partner in November from venture capital firm WI Harper and BAI is understood by third parties to have been looking at building a similar team in India.