Bloomberg launches $75 million venture fund

bloombergbetaBloomberg has launched Bloomberg Beta, a $75 million venture fund to invest in and create early-stage technology companies.

Bloomberg Beta’s initial focus areas are producing insights from data (data, technology platforms, content discovery, media distribution) and making the experience of work better (networks and communities, human-computer interaction, and radically new organisational models).

In these areas, Bloomberg Beta’s first announced investments are Newsle, MkII, Nodejitsu, Codecademy, Errplane and ProsperWorks.

“Bloomberg L.P. is itself a template for startups – first to succeed in its market, founded on a big idea, with a strong culture, and guided by its founders for three decades,” said Roy Bahat, head of Bloomberg Beta. “With Bloomberg Beta we can nurture the new generation of technology companies built on this template. We’re entrepreneurs at heart, and we want to invest and make companies. We’re fortunate to have a patient backer in Bloomberg L.P., which has seen firsthand the rewards to growing an extraordinary company over time.”

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