New York Times 5 June 2013
SAN FRANCISCO — In the increasingly clubby world of Silicon Valley, some might say it was almost inevitable that Bloomberg L.P., the parent of Bloomberg News, would start its own venture capital firm to invest in start-ups, including some that its technology reporters write about.
On Wednesday, Bloomberg will announce the formation of Bloomberg Beta, a $75 million venture capital fund, which has already begun using Bloomberg L.P.’s money to place bets on young start-ups like Codecademy, a Web site that provides online coding tutorials, and Newsle, a Web service that alerts users to news about friends.
It is not the first time that Bloomberg L.P. has put its money in technology companies. It is a limited partner in Andreessen Horowitz, a venture capital firm with investments in technology companies like Facebook and Twitter. And until shutting it down recently, Bloomberg also ran its own incubator, Bloomberg Ventures, which helped build new businesses that could later be folded into Bloomberg products.
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Bloomberg Begins Fund to Invest in Start-Ups
