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NextNews Ventures is a venture capital firm founded in 2009 and based in New York, NY. The firm focuses on investing in news-related ventures, particularly in the digital media and technology sectors. Its founding partners are seasoned media executives with extensive experience in journalism and media economics. The firm was most active during the digital media wave from 2013 to 2017, investing in early-stage companies that innovate in journalism and media technology.
NextNews Ventures has a strong pedigree, with partners who have held significant roles in major media organizations. The firm has a history of backing innovative media tools and content discovery platforms, demonstrating a commitment to enhancing digital news publishing. Although the firm has not made new investments since around 2018, its legacy includes notable exits and a portfolio that reflects its focus on the intersection of journalism and technology.
NextNews Ventures primarily invests in early-stage companies, typically those that are 2-3 years old. The firm targets sectors such as media, artificial intelligence, and fintech, with a particular emphasis on ventures that enhance digital news publishing and media tools. Check sizes range from $1 million to $5 million, allowing the firm to support startups at critical growth stages.
The investment thesis of NextNews Ventures is built around the belief that digital news publishing requires purpose-built capital from individuals who understand journalism economics. The firm seeks to support companies that are innovating in journalism and media technology, leveraging the extensive experience of its partners to provide strategic guidance and insights into the challenges faced by startups in the digital media landscape.
NextNews Ventures has invested in several notable companies, including:
The firm has a history of backing innovative media tools and content discovery platforms, reflecting its commitment to the digital news sector.
Craig Forman - General Partner. Former CEO of The McClatchy Company and a former executive at Yahoo. He currently serves at the Center for News, Technology & Innovation.
Gordon Crovitz - Co-founder. Former publisher of The Wall Street Journal, bringing extensive experience in media management and strategy.
Jim Friedlich - Co-founder. A seed investor in Business Insider and a media executive with a strong track record in the industry.
The founding team consists of three ex-senior media executives, providing a unique depth of experience in journalism and technology.
NextNews Ventures has not made any new investments since around 2018, marking a significant gap in activity following its most active period from 2013 to 2017. The firm’s notable exit includes the acquisition of Nuzzel by Twitter in 2021, which highlights its successful investment strategy during the digital media wave.
Craig Forman, one of the founding partners, transitioned to become the CEO of McClatchy, indicating a shift in focus for some of the firm's leadership.
What are the investment criteria for NextNews Ventures?
NextNews Ventures focuses on early-stage companies, typically those that are 2-3 years old, in sectors such as media, AI, and fintech. The firm invests between $1 million and $5 million per company.
How can I pitch to NextNews Ventures?
Founders can reach out to NextNews Ventures through their website or via email, though specific contact details are not publicly available. A well-prepared pitch deck that outlines the business model, market opportunity, and team is essential.
What makes NextNews Ventures different from other investors?
The firm is distinguished by its founding partners, who are seasoned media executives with deep expertise in journalism and media economics. This background allows them to provide unique insights and strategic guidance to portfolio companies.
What is the geographic focus of NextNews Ventures?
NextNews Ventures primarily invests in companies based in North America, aligning with its focus on the digital media landscape in this region.
What is the post-investment involvement like?
NextNews Ventures provides strategic guidance and insights into journalism economics, helping startups navigate the challenges of the digital media landscape. The firm leverages the extensive networks of its partners to support portfolio companies.
What is the current status of NextNews Ventures?
NextNews Ventures was most active from 2013 to 2017, and there have been no new investments identified since 2018. The firm may be fully deployed or winding down its operations.
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