For those not familiar with Saban Ventures, tell us about the fund?
Richard Yen: Saban Ventures kicked off early this year. We make Series A and Series B investments in digital media, mobile, and consumer Internet. We’re the venture capital arm of Saban Capital Group, which is Haim Saban’s investment vehicle and private equity firm, which he founded in 2001. Haim’s background is in media and the entertainment industry, for several decades. He’s an entrepreneur and operating executive, and has made investments in companies like Univision–the largest television network in the U.S.–where he is Chairman. He branched into the venture capital area last year, and brought myself and a colleague, Craig Cooper, in to invest in early stage companies. How big of a fund is this? Richard Yen: We don’t publicly disclose the size of the fund, but we’re going to make $1M to 5M investments in early stage companies. We’ll typically invested $1M-3M in a Series A for a pre-revenue company, and $3M-5M for a Series B firm or for companies with revenue and traction. We’re l
