NEW YORK (CelebrityAccess) — The Raine Group, an investment company focused on the technology, media, and telecommunications sectors, announced the launch of a new investment fund focused technology, media, and telecommunications sectors.
According to Raine, the new fund launches after a successful capital raise of more than $760 million, bringing Raine’s total assets under management to almost $4 billion, the company said.
“We are pleased to announce the closing of Raine Partners IV,” said Sherri Williams, Partner and Head of Investor Relations and Fundraising. “We appreciate this vote of confidence from our limited partners and we look forward to building on our firm’s strong track record of investing in transformative growth companies within our core sectors of focus. We look forward to working with our investors and portfolio companies to achieve their full potential.”
Raine’s new fund has already made its initial investment into Tripledot Studios, a mobile games developer focused on the casual gaming market.
“We are excited to have made our first investment from Raine Partners IV in Tripledot,” said John Salter, Co-Founder and Partner of Raine. “We have known the management team since inception and believe the company is one of the strongest in casual gaming, recently topping the FT/Statista ranking as Europe’s fastest-growing company. As a highly profitable business with more than 400 staff and about 50 million monthly active users, we look forward to actively working with their team to drive continued growth in the casual gaming market.”
Founded in 2009, Raine Group’s portfolio already includes investments in DraftKings, Moonbug, Imagine Entertainment, TelevisaUnivision and VideoAmp, among others.
