Venture Capitalism

Can You Feel the Froth? Zynga and Business Insider Investor Launches Trigger Media Group, Another NYC Seed Stage Fund

via Fortune.com

Dan Primack broke the news today that another seed stage fund is poised to enter into the New York’s teeming tech scene. The fund, which has reportedly raised around $23 million, is called Trigger Media Group. It will be run by Andy Russell, a co-founding partner of Bob Pittman’s VC and PE firm Pilot Group LLC.

Mr. Pittman, of course is the former president of AOL and the founder of MTV. According to Crunchbase, Pilot Group likes “to buy undervalued companies, fix them, and resell them.” Pilot Group is an investor in Zynga, betaworks, and our friends over at Silicon Alley Insider.

Trigger will focus on the digital media space, which means it should be wading through plenty of potential local investments. Read More