German media concern Bertelsmann is in the early-stages of financing a new venture capital fund with a total volume of up to DM2.2 billion. Targeting the media and Internet sector, eBertelsmann will be one of the largest worldwide funds in that sector. The fund will support Bertelsmann in developing or acquiring new businesses and in developing new business fields and new technologies relevant to the creation and distribution of media content. Other venture capital activities of the corporate divisions such as G+J Ventures, Random House Ventures, BMG Ventures and RTL New Media will be complemented or replaced by eBertelsmann. Bertelsmann Valley founded a year ago as a department of Bertelsmann Multimedia and the Bertelsmann eCommerce Group will also be affected.
Thomas Middelhoff, chairman and CEO of Bertelsmann AG, said: “With this step we’re strongly expanding our venture capital business. The eBertelsmann fund will not only achieve attractive yields but recognise trends at an early point in time and develop new businesses that are relevant to Bertelsmann.”