Sinai Capital Partners said it has raised $600 million for two funds to finance impactful and social-change-oriented investments in tech, film and TV.
The Partners’ venture capital fund Sinai Ventures raised $500 million, which the company said was the largest single fund in Los Angeles history, to invest in late-stage software and tech companies.
“Much like the entrepreneurs we back, Sinai believes the adoption of technology presents a global opportunity to change lives for the better,” said Sinai Ventures Managing Partner Jordan Fudge. “To that end, we are mission-driven to discover teams building impactful companies across the world.”
The fund has investments in 85 companies, including such notables as Pinterest, Roman Health, and Hippo Insurance. With its newest raise, Sinai Ventures will focus on investing in growth-stage and pre-IPO companies. Sinai originally incubated out of Eagle Advisors, the family office of one of the founders of software giant SAP.
“We have long been dedicated to the thesis that the power of technology is the key to creating a more prosperous future,” said Zach White, a Sinai partner. “Sinai is singularly dedicated to supporting founders with large ideas that are looking to make meaningful changes in the communities we live, work, and invest in.”
Sinai Capital also said it has raised $100 million for New Slate Ventures, which finances and produces films, docs and TV programs that are, according to a release, “intersectional, inclusive and culturally impactful,” with plans to expand a portfolio of originals that “capitaliz(e) on stories with authentic connections to drive its audiences to action.”
New Slate partners include Fudge, White and Jeremy Allen. The fund has backed a recent string of high-profile projects from Black filmmakers, including Radha Blank’s 2020 Sundance Film Festival hit, The 40-Year-Old Version, which debuted recently on Netflix; Lee Daniels’ upcoming Paramount biopic The United States Vs. Billie Holiday; and The 24th, from Oscar-winning writer Kevin Willmott (BlacKkKLansman) and which debuted in August through Vertical Entertainment.
Also on the way with New Slate backing: an untitled documentary about NBA Hall of Famer turned entrepreneur Magic Johnson, and an untitled limited series about financier/felon/philanthropist Michael Milken.
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