Plum Grabs $20 Million

Plum, a New York-based network of local television stations in markets like Martha’s Vineyard, Vail and the < ?xml:namespace prefix = st1 />Hamptons, has raised $20 million in venture capital funding. The Kraft Group and hedge fund The Raptor Fund co-led the deal, and were joined by Ackerley Partners and The Pilot Group. Individual participants included Chris Blackwell (Island Records founder), Jimmy Buffett (musician), Nick Buoniconti (ex-NFL player), Tom Freston (former Viacom CEO), Jason Flom (Virgin Records CEO), Andy and Kate Spade (founders of Kate Spade) and Barry Sternlicht (Starwood Hotels founder).