Thursday, March 15, 2012
Live Nation Sets Up Venture Investment Fund
Los Angeles-based ticketing and concert management firm Live Nation is getting into the early stage investment business, announcing Wednesday that it has established the LN Labs Fund, which will invest in early stage technologies and entrepreneurs. The firm said the company is interested in funding "great new products that further engage fans and enrich the concert experience." Size of the fund was not announced. Live Nation said the new investment fund will be managed by Eric Garland, executive vice president and general manager of Live Nation Labs; Ethan Kaplan, vice president of products, Live Nation Labs; and Michael Abrams, president of Digital Ventures. Live Nation explained that it is looking to make equity investments in early stage start-ups in the areas of consumer product development and technology infrastructure. The company, however, did not say what size of deals it expects to do with the new fund.