New VC Fund Focused on Consumer Tech and CPG Sectors Leveraging its Media Platform & Entrepreneurial Ecosystem
Angel Investor Network to Provide Additional Resources
LOS ANGELES, Nov. 28, 2023 (GLOBE NEWSWIRE) — Entrepreneur Media, publisher of Entrepreneur magazine and Entrepreneur.com, announced today that it has launched a new venture capital fund known as Entrepreneur Ventures. The fund, headquartered in Los Angeles and led by veteran venture capital investors Danny Beckett, Jr. and Jonathan Hung, plans to invest up to $10 million in 150 to 200 pre-seed stage startups, primarily operating in the CPG, consumer, and B2B frontier and enterprise tech sectors.
Entrepreneur Ventures plans to invest in early-stage entrepreneurs across various industries. Its operating partners will help support startups with all aspects of building a company, including finance, operations, strategy, growth, talent, engineering, and more. The fund’s affiliation with Entrepreneur Media and its family of print and digital publications and productions provides access to a diverse community of founders and entrepreneurs, with 20 million unique website visitors, 3.2 million readers, and 15.8 million social followers to support traction and growth.
Mr. Beckett and Mr. Hung will be General Partners of the new fund. Beckett has over 20 years of experience in launching, scaling, and exiting startups, as well as investing in real estate and family and founder-owned businesses. He started his professional career as a professional athlete and brand ambassador before jumping to founder and VC. Hung has over 15 years of experience as a venture capitalist and entrepreneur, having invested in more than 90 pre-seed and pre-IPO investments, and is an active angel investor on the West Coast. Together they have raised and deployed more than $500m in private and venture capital. The co-founders will be joined by a team of six additional investors and advisors, including Entrepreneur CEO Ryan Shea, President Bill Shaw, and Editor in Chief Jason Feifer.
“Our goal is to provide a hands-on approach, leveraging our network and expertise to help portfolio companies scale quickly and succeed in their respective markets. We look forward to building the next generation of America’s most innovative, exciting companies,” said Hung.
Concurrently with the fund, Entrepreneur Media is also establishing Entrepreneur Venture Partners, an accredited angel investor network. The investors in this network will be able to co-invest in portfolio companies alongside Entrepreneur Ventures, as well as provide personalized mentorship, industry insights and practical guidance to the portfolio founders. The fund expects to add 100 angel partners by the end of 2024.
Beckett said, “By making relatively small initial investments, we are catalyzing growth and creating follow-on opportunities for LPs and angel investors to directly invest additional capital over time. Our goal is to help founders of tech companies, but also early-stage consumer products and brands, prove out their business model and product-market fit, while driving returns for our investors.”
“Integrating a media company, a fund, and an accredited angel network to help drive sustainable venture growth is unparalleled. It will be a major difference maker in our industry, as it creates a unique ecosystem where media exposure, financial support, and expert mentorship converge to foster innovation and accelerate the success of emerging businesses,” Beckett added.
About Entrepreneur Ventures
Entrepreneur Ventures is a venture capital fund backed by Entrepreneur Media, publisher of Entrepreneur Magazine, the leading authority on emerging companies and brands, and producer of various events and content. Entrepreneur Ventures was established to invest up to $10 million in 150 to 200 pre-seed stage startups, primarily operating in the CPG, consumer, and B2B frontier tech sectors. Led by General Partners Danny Beckett, Jr. and Jonathan Hung, Entrepreneur Ventures is headquartered in Los Angeles, with additional offices and partners in New York, San Francisco, Toronto, and Grand Rapids.