$260 Million Digital Media Fund Launched

Yep, we’re in it…new digital media funds. Spark Capital is a new Cambridge, MA-based firm being launched today, with a $260 million fund. Founders: Dennis Miller, who was executive VP responsible for production and original programming for TNT from 1990-95; Todd Dagres, who notably backed Akamai while a partner at Battery Ventures; and Santo Politi, former president of new media at Blockbuster, who was responsible for figuring out how to move the video-rental giant into digital-broadcasting and VOD services. Other partners include Paul J. Conway, former chief financial officer at Charles River Ventures, and Bijan Sabet, previously an entrepreneur-in-residence at Charles River.

Variety: The new firm is eyeing a rash of new firms that want to track advertising reach as ad models shift, to provide more accountability to advertisers, and others that are trying to transform so-called peer-to-peer networks — huge but largely illegal aggregators of music fans — into legit businesses. Spark is also looking at the evolution of video search engines…

No investments announced yet, but the site says the first batch of portfolio companies will be announced soon.

If they were so eager about digital media, they should have thought more about their website…no way to link to any inner pages because of Flash…ah well…

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