Key Takeaways
- • Sinai Capital Partners raised more than $600 million in new capital across its two funds, lifting combined assets under management to $800 million, according to a Business Wire announcement dated November 18, 2020.
- • Sinai Ventures closed Sinai Ventures III, L.P. at $500 million, which the firm describes as the single largest venture fund in Los Angeles history.
- • Media fund New Slate Ventures added $100 million to finance and produce films, documentaries, and television programs.
- • Sinai Ventures, incubated within a multibillion-dollar family office, has more than 85 portfolio companies including Pinterest, Carta, Roman Health, Compass, Unqork, and Hippo Insurance.
- • Sinai Ventures will invest across all stages with a targeted focus on growth-stage and pre-IPO software and technology companies.
Summary
Los Angeles-based Sinai Capital Partners (SCP), a multi-strategy private equity company spanning media, entertainment, and technology, announced that it has raised more than $600 million in new capital across its two funds. Sinai Ventures closed $500 million, and media fund New Slate Ventures added $100 million. With the additional capital, the group's combined assets under management now total $800 million, according to the company's announcement.
Sinai Ventures, the firm's venture arm, invests in growth to late-stage software, internet, and technology-enabled companies. Incubated within a multibillion-dollar family office, the firm has more than 85 portfolio companies, including Pinterest, Carta, Roman Health, Compass, Unqork, and Hippo Insurance. Managing Partner Jordan Fudge said the firm is mission-driven to discover teams building impactful companies across the world. Partner Zach White said the firm is dedicated to the thesis that technology is key to a more prosperous future. The firm will invest across all stages, with a targeted focus on growth-stage and pre-IPO companies. The company states that Sinai Ventures III, L.P. at $500 million is the single largest venture fund in Los Angeles history.
New Slate Ventures, a media-focused subsidiary fund, finances and produces films, documentaries, and television programs with intersectional, inclusive, and culturally impactful stories. Led by partners Jordan Fudge, Jeremy Allen, and Zach White, its 2020 slate includes THE 40-YEAR-OLD VERSION, a Lena Waithe-produced title directed and starring Radha Blank that was acquired out of Sundance and released by Netflix; THE UNITED STATES VS. BILLIE HOLIDAY, directed by Lee Daniels, acquired by Paramount through the Cannes virtual market; UNTITLED MAGIC JOHNSON, a documentary on Earvin Magic Johnson; and THE 24TH, directed by Kevin Willmott, which premiered through Vertical Entertainment after an official selection at SXSW. An untitled Michael Milken limited series, written by Terrence Winter, is in development.
The announcement was issued through Business Wire. Related Business Wire releases on the same date covered other private equity activity, but those items concern different firms and transactions and are not part of this announcement.
Sinai Ventures, the firm's venture arm, invests in growth to late-stage software, internet, and technology-enabled companies. Incubated within a multibillion-dollar family office, the firm has more than 85 portfolio companies, including Pinterest, Carta, Roman Health, Compass, Unqork, and Hippo Insurance. Managing Partner Jordan Fudge said the firm is mission-driven to discover teams building impactful companies across the world. Partner Zach White said the firm is dedicated to the thesis that technology is key to a more prosperous future. The firm will invest across all stages, with a targeted focus on growth-stage and pre-IPO companies. The company states that Sinai Ventures III, L.P. at $500 million is the single largest venture fund in Los Angeles history.
New Slate Ventures, a media-focused subsidiary fund, finances and produces films, documentaries, and television programs with intersectional, inclusive, and culturally impactful stories. Led by partners Jordan Fudge, Jeremy Allen, and Zach White, its 2020 slate includes THE 40-YEAR-OLD VERSION, a Lena Waithe-produced title directed and starring Radha Blank that was acquired out of Sundance and released by Netflix; THE UNITED STATES VS. BILLIE HOLIDAY, directed by Lee Daniels, acquired by Paramount through the Cannes virtual market; UNTITLED MAGIC JOHNSON, a documentary on Earvin Magic Johnson; and THE 24TH, directed by Kevin Willmott, which premiered through Vertical Entertainment after an official selection at SXSW. An untitled Michael Milken limited series, written by Terrence Winter, is in development.
The announcement was issued through Business Wire. Related Business Wire releases on the same date covered other private equity activity, but those items concern different firms and transactions and are not part of this announcement.
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