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.
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