Eric Schmidt, Sean Parker, Marc Andreessen Invest In Boutique Bank Raine

Eric Schmidt

Photo: Wikipedia

Raine, new boutique bank with some very high profile backers from the tech and media world, is starting to look for deals, the FT reports.Check out the names attached to Raine:

Investors: Google chairman Eric Schmidt, ex-Facebook president Sean Parker, ex-News Corp. big wig Peter Chernin, ex-Yahoo CEO Terry Semmel, Demand Media CEO Richard Rosenblatt, and Valley kingpin Marc Andreessen.

Others: WPP is investing and Abu Dhabi’s investment company is also putting in money.

Advisors: Ted Forstmann, Ari Emmanuel, and Ray Chambers.

Raine will be run by an ex-Goldman partner and ex-UBS banker. It is due to raise $500 million for investments.

So what’s it doing with all that cash? It is about to make its third investment buying a stake of OpenSky, a social shopping company. It’s also invested in Vice Magazine and Jagex, a British online gaming company.

NOW WATCH: Tech Insider videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.