New VC fund seeks TV, movie investments

The fund will be managed by JP Morgan Chase.

A US-Israeli investor group, headed by film producer Joseph Grinkorn will set up a $100 million venture capital fund for investment in the television and movie industry. The fund will be managed by JPMorgan Chase & Co. (NYSE: JPM).

During the negotiations on the raising of the fund, which continued for three months, Grinkorn and the other partners looked at a number of investment opportunities in television and the cinema in the US and Israel, and put together a controlling core consisting of US institutional and private investors, who have already made other investments in the field in the US. The group will over the coming weeks look at a number of Israeli formats that could be acquired and then expanded in the US market, and will team up with a number of major film studios with projects already under development.

Published by Globes [online], Israel business news - www.globes-online.com - on July 20, 2008

© Copyright of Globes Publisher Itonut (1983) Ltd. 2008

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