Initial Investments in Stageit and Mad Humans
NEW YORK, May 2, 2012 – Longtime digital media executive Alan McGlade, along with partner, venture capitalist and attorney Michael Yang, today announced the launch of DEV (Digital Entertainment Ventures), a New York-based firm that will provide early stage capital and management counsel to the next generation of digital media companies. DEV’s fund has made initial investments in several companies including web-based live music platform Stageit and mobile gaming company Mad Humans.
DEV will continue to build its portfolio with nascent companies focused on music, TV, film, games, publishing and social media that are based on new business models and devices such as internet-enabled TVs, tablets and handsets. In some cases, DEV will develop and incubate businesses based on identified marketplace needs. And in addition to providing capital, DEV will take an active role in its portfolio companies, providing them with domain expertise and strategic relationships to take them to the next level.
DEV Managing Director McGlade has more than two decades of experience in taking companies from the conceptual stage to becoming significant market players. He was formerly CEO of MediaNet, a pioneer in providing legal digital music downloads, and of Video Jukebox Network (The Box), which he sold to MTV in 2001. Yang, also Managing Director, is a senior venture/ funds attorney. He was previously a venture capitalist for Divine Interventures and Sandbox Industries, and before that, was the co-founder and CTO of enterprise software company Redmind, Inc.
“The media industry is undergoing the most profound transformation in our history,” said McGlade. “New York City, with its established media businesses, talent and burgeoning startup ecosystem, has all the right elements for these game-changing companies to emerge. DEV will play a significant role in helping digital media start-ups succeed, not only with early stage investments but also by providing a leg up from our team’s collective experience and relationships.”
DEV offers investors the opportunity to participate in promising new companies vetted by its experienced team of entrepreneurs, investors and managers of media and entertainment ventures. Its first portfolio investments show the diversity of its investment philosophy and approach. Two of these companies include:
· Stageit - A web-based platform created for musicians by musicians that empowers them to deliver and monetize interactive live experiences directly from their laptop. Offering intimacy and direct interaction with fans, Stageit gives artists the opportunity to offer unique online fan experiences that will not be archived or duplicated for distribution. Stageit was launched in March 2011 by CEO and music industry veteran Evan Lowenstein, who has nearly 20 years of experience as a recording artist, award-winning writer and executive.
· Mad Humans - A suite of mobile games that tap the American zeitgeist. It pits players against comically hostile celebrity humans and their minions from the worlds of politics and entertainment in easy to use, non-lethal shooting games. Incubated by DEV, Mad Humans ELECTION 2012 is being introduced soon.
For more information about DEV, visit devny.vc.
About DEV (Digital Entertainment Ventures)
DEV (Digital Entertainment Ventures) provides guidance, seed and early stage capital to companies building the next generation of digital services that are transforming media and entertainment. DEV is managed by seasoned media and venture executives Alan McGlade and Michael Yang, and its initial investments include Stageit and Mad Humans. It is headquartered in New York City. Visit DEV on the web at devny.vc.
# # #
Cathy Halgas Nevins