, the New York tech incubator that *hates* being called an incubator (they prefer “business acceleration platform”) has raised a pile of money — we’re told it’s something in the $10 to $15 million range — from an assortment of high-profile tech and media angels.
Led by Time Warner vets John Borthwick (right) and Andy Weissman, BetaWorks had previously raised about $2 million last year; they’ve spent a good chunk of that on 15 investments and a small team of in-house tech folks. Best deal to date: Summize, which sold to Twitter this year for about $15 million.
The new cash will allow them to make slightly bigger investments — John says average deal size will jump from $75,000 to $150,000.
Luminaries investing in BetaWorks include:
Jean-Marie Messier, last seen trying to transform Vivendi from a water utility into a media company during the last bubble.
Bob Pittman’s Pilot Group*
Henry “Hank” Vigil, Steve Ballmer’s chief dealmaker at Microsoft
Former Dow Jones publisher Gordon Crovitz*
Taavet Hinrikus, an early and current Skype employee
Paul Cappuccio, general counsel at Time Warner
Earlier investors include Huffpo’s Ken Lerer, Google’s Tim Armstrong, and Ron Conway.
* Both Pilot and Gordon are investors in SAI parent Silicon Alley Media.
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