KQED, Knight Foundation Fund To Invest In Small New Media Startups
December 4, 2012 at 4:11 AM (PT)
NORTHERN CALIFORNIA PUBLIC BROADCASTING, licensee of noncommercial News-Talk KQED-F and PBS Affiliate KQED-TV/SAN FRANCISCO, has partnered with the JOHN S. AND JAMES L. KNIGHT FOUNDATION and PUBLIC RADIO EXCHANGE (PRX) to launch an incubator for new media startups.
MATTER VENTURES, starting with a $2.5 million fund, launched MONDAY and is headed by CEO COREY FORD. The SAN FRANCISCO CHRONICLE reports that the fund will offer selected startups like mobile app companies a $50,000 investment and space in SAN FRANCISCO's SOMA neighborhood, and will ask for a percentage of equity in return.
PRX will provide strategy and management support, keeping KQED out of those decisions to allow it to cover the companies without conflict-of-interest concerns. Initial applications are due JANUARY 6th, with more information at matter.vc.