CAA and New Enterprise Associates have reportedly provided an initial $100m for Connect Ventures that could be upscaled to $400m.
US-based talent agency Creative Artists Agency (CAA) formed an investment vehicle with venture capital firm New Enterprise Associates (NEA) on Wednesday that was launched with $100m in capital according to the Hollywood Reporter.
Connect Ventures will leverage the existing relationships CAA has in the sports and entertainment industries, and the Hollywood Reporter stated that the companies plan to invest up to $400m through the venture.
The fund will be run by Rick Yang, the NEA general partner who is also…
