Live Nation Launching LN Labs Fund
March 14, 2012 at 5:40 PM (PT)
LIVE NATION ENTERTAINMENT has established the LN LABS FUND, a vehicle for strategic investment, partnership and mentoring of the world's most innovative early stage technologies and entrepreneurs. Focusing on equity participation in early stage start-ups in the areas of consumer product development and technology infrastructure, LN Labs Fund will be managed by EVP/GM ERIC GARLAND, VP/Products ETHAN KAPLAN and Pres./Digital Ventures MICHAEL ABRAMS. Portfolio companies will be supported and mentored by the entire LIVE NATION ENTERTAINMENT executive team.
"We're interested in funding great new products that further engage fans and enrich the concert experience. There are a lot of little pieces on the board, and we're developing a structure for putting the best pieces together," LIVE NATION ENTERTAINMENT CEO MICHAEL RAPINO said. "In the era of the social conversation, we're a very focused platform. We're specialists."
"It's a renaissance for great product innovation," KAPLAN said. "Good work is falling off the trees. The challenge for these upstarts is finding their market fit. We bring that to the table. We insist on a very clear product market fit for everything we do.