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Pegasus Tech Ventures Partners with Asahi Broadcasting Group Holdings Corporation on New VC Fund to Invest up to $200 Million in Global Startups
The new fund has already completed its first major investment into the recently launched streaming video platform Quibi

Pegasus Tech Ventures, a global venture capital firm headquartered in Silicon Valley, today announced a partnership with Asahi Broadcasting Group Holdings Corporation, launching a new VC fund of up to $200 million. Pegasus will support Asahi Broadcasting Group Holdings Corporation by investing and facilitating partnerships with emerging media and technology startups around the world. Using Pegasus' strong global network, this new fund has already completed its first investment into Los Angeles-based rising star, Quibi.

Asahi Broadcasting Group Holdings Corporation is one of the largest certified broadcasting holding companies in Japan with major television and broadcasting businesses. Through this new Pegasus fund, Asahi Broadcasting Group Holdings Corporation invested $25M of the $35M allocation in the latest $750M Quibi funding round. Led by renounced film producer Jeffrey Katzenberg and executive Meg Whitman, Quibi is a streaming video platform, featuring premium, short-form content from many of Hollywood's top creative talents.

"We are excited to partner with Asahi Broadcasting Group Holdings Corporation in the new fund with the mandate of finding the best emerging media and technology startups for investment and partnership," said Anis Uzzaman, CEO & General Partner of Pegasus Tech Ventures. "Pegasus invested in Quibi because they are serving a clear whitespace highlighted by the consumer's demand for short-format content. The relationships that Quibi has already established make it a formidable challenger to all existing streaming platforms as consumers continue to migrate to mobile."

Led by Anis Uzzaman, Pegasus takes a unique approach to venture investing with a Venture Capital-as-a-Service (VCaaS) model for corporations around the world. To learn more about the model and portfolio companies, visit here.

Published Tuesday, April 21, 2020 10:48 AM by David Marshall
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