US-based advertising agency Kirshenbaum Bond Senecal and Partners has started a corporate venturing unit to invest in ad technologies, mobile and design.
The first deal of KBS+P Ventures is YieldBot, an online analysis provider. Darren Herman (pictured), founder of Varick Media Management, is managing director of KBS+P Ventures, which will invest $50,000 to $200,000 per deal.
By email, Herman said: "Kbs+p Ventures is backed by MDC Partners (Nasdaq: MDCA) and kirshenbaum bond senecal & partners, a business transformation agency headquartered in New York. We have not disclosed the amount we are putting to work but intend to do 10-15 investments in 2011."
From his blog, Herman said: "My belief is that 98% of new ideas aren’t really new; they are repackaged and spun differently to the marketplace. I’ve been through the first dot com wave and learned quite a few lessons and look forward to applying them to my latest endeavours."
Kirshenbaum Bond Senecal is owned by MDC Partners and its clients include car maker BMW, drinks group Coca-Cola, and jeans maker Levi Strauss.