As we reported exclusively in July, Bryan Biniak, the former mobile SVP of AG Interactive division of American Greetings, left the company last month to start a new venture fund…some more details on it: the VC firm is formally called Provenance Ventures, and has closed its first, $10 million fund, from private investors. The LA-based fund will be used to make about 20-40 seed-stage investments of $250K-$500K in media and communications start-ups predominantly in the LA area.
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