Sky is to ramp up its investment in startups across Europe and the Middle East with a $4M commitment to Israeli venture capital fund Remagine Ventures and the launch of a new German office.
The European pay-TV giant is opening an office in Berlin to invest in a raft of content and technology start-ups in Europe, particularly Germany and the Nordics.
It is also investing $4M in Remagine Ventures, a recently launched Tel Aviv-based fund managed by former ProSiebenSat1.Media investor Kevin Baxpehler and former Google Ventures Europe partner Eze Vidra. The VC fund will focus on technology startups within tech, entertainment, data and commerce and Sky’s investment will give it access to Israel’s start-up scene.
Sky has been investing in start-ups since 2012 and opened an office in Silicon Valley in 2014. It has invested in over 20 companies including Roku, 1Mainstream, Elemental, The Rights Xchange and Drone Racing League.
Emma Lloyd, Group Director of Business Development and Partnerships at Sky said, “Six years on from our first investment, we’re expanding our start-up activity across Europe and Israel. Spending time in both Berlin and Tel Aviv has left us hugely impressed with the energy, dynamism and talent of both tech scenes. This is an exciting new chapter for us and we can’t wait to get started and uncover new, innovative start-ups across the regions and beyond.”
Carsten Schmidt, CEO of Sky Deutschland added, “I’m very pleased to be expanding Sky’s activity with the establishment of a new Berlin base for our venture activity. I continue to be impressed by the strength of tech talent in Berlin, and ever-growing pool of start-ups bringing new and innovative ideas to the German market and beyond. I look forward to us establishing more partnerships with early stage companies by setting up our Berlin based office this year.”