Digital Entertainment Ventures, the new early stage capital and management counsel firm, announced StageIt and Mad Humans are among its first investments.
DEV was formed this week by executive Alan McGlade and attorney/venture capitalist Michael Yang to leverage their digital media expertise in support of promising forward-looking companies.
McGlade, who serves as managing director, has a career that includes having been CEO of MediaNet as well as of Video Jukebox Network (later called The Box), which he sold to MTV in 2001. Yang, who is also managing director, was previously a venture capitalist for Divine Interventures and Sandbox Industries, before which he was co-founder and chief technology officer of enterprise software company Redmind Inc.
DEV’s initial investments give a good indication of its direction. StageIt was launched in March 2011 by CEO Evan Lowenstein to give musicians a platform for direct interaction with fans. It enables them to easily deliver and monetize interactive live experiences which preserve their intimacy and immediacy by not being archived or distributed. The next performance will be by Jeffrey Gaines (pictured) on Saturday, May 5.
Mad Humans is a suite of mobile non-lethal shooting games that pit players against comic versions of celebrities and other well-known people from the worlds of politics and entertainment. Its next title, Election 2012, is being introduced soon.
DEV will continue to build its portfolio with nascent companies focused on music, TV, film, games, publishing and social media that are based on new business models and devices such as internet-enabled TVs, tablets and handsets. In some cases, DEV will develop and incubate businesses based on identified marketplace needs. And in addition to providing capital, DEV will take an active role in its portfolio companies, providing them with domain expertise and strategic relationships to take them to the next level.
“The media industry is undergoing the most profound transformation in our history,” said McGlade. “New York City, with its established media businesses, talent and burgeoning startup ecosystem, has all the right elements for these game-changing companies to emerge. DEV will play a significant role in helping digital media start-ups succeed, not only with early stage investments but also by providing a leg up from our team’s collective experience and relationships.”
DEV (Digital Entertainment Ventures) – official site
StageIt – official site
Mad Humans – official site
Photo by Flickr user comedy_nose, used under Creative Commons license