AAA Guardian Media Group gets into corporate venturing

Guardian Media Group gets into corporate venturing

UK-based media company Guardian Media Group (GMG) launched a £42m ($55.3m) corporate venturing fund yesterday called GMG Ventures that will make early-stage investments in media technology developers.

GMG is the owner of The Guardian, the left-leaning daily newspaper that also runs an online platform that attracts 140 million unique users each month. It was ranked second most popular UK news site, behind BBC News, by online data provider Alexa in June this year.

GMG Ventures will look to invest in startups working on technologies covering areas like artificial and intelligence and machine learning journalistic tools, adtech, reader and customer experience enhancement, payment, content distribution and tools enabling readers to respond to content through external means.

The fund will be chaired by GMG chief executive David Pemsel, and Alan Hudson, the company’s chief investment officer, will oversee its activities as managing partner. Hudson joined GMG in 2011 from financial services firm Bank of America Merrill Lynch.

Pemsel said: “In a rapidly changing media landscape, GMG Ventures will be an essential addition to the experience, skills and qualities of the Guardian, giving us access to the new ideas and innovation that entrepreneurs bring to the table.

“GMG Ventures will aim to secure investments in some of the very best new businesses emerging out of the media and tech space in the UK, US and continental Europe.”

The fund will also manage GMG’s existing investment in accelerator and incubator Founders Factory, as part of a strategic partnership agreed in January 2016. They launched the 2017 accelerator partnership in August this year.

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