Provenance Ventures Launches Seed Fund

Los Angeles-based Provenance Ventures said Monday that it has launched an early-stage venture capital firm, focused on social technologies. The firm has closed a small, $10M fund which it will invest in media and communications firms. The firm said that it plans to make 20 to 40 investments, ranging from $250,000 to $500,000 per company. Provenance is headed by Bryan Biniak, who has served as SVP and General Manager for AG Interactive, the new media division of American Greetings, and has also served as COO for Moviso. More information »