Bertelsmann Digital Media Investments (BDMI), the corporate venturing unit belonging to media conglomerate Bertelsmann, joined unnamed investors described as ‘major financial and strategic partners’ in underwriting a convertible loan of €5m ($6.9m) to venture incubator H-Farm Wednesday last week.
Founded in 2005, H-Farm is headquartered in Italy but currently has offices in the US, UK and India, and focuses mainly on tech-oriented startups which it provides with seed funding.
BDMI has recently made similar investments in a range of early-stage funds across Europe including France-based ISAI, Spain-based Cabiedes & Partners and the UK-based Seedcamp.
Jan Borgstädt, head of European Ventures for BDMI, said: "We look forward to a fruitful cooperation with the H-Farm team and to discovering promising new digital media opportunities through this exciting partnership."
