UK-based early-stage media technology venture capital firm GMG Ventures has rebranded to Mercuri. It has also raised £50 million ($81.35 million) for its second fund led by British Business Bank, through its Enterprise Capital Funds program, to back startups using artificial intelligence to reinvent traditional media models.
Other investors in the latest fund include The Scott Trust, owner of the Guardian Media Group and Mercuri’s inaugural investor, who launched it to support the development of new businesses amid disruptions happening in the media space. Several other institutional, strategic and angel backers participated too.
“We are delighted to announce the launch of our first multi-LP fund at a time when this profound progress in artificial intelligence is impacting the entire media technology ecosystem, including content creation, gaming, personalization, music, privacy, education, community and communication,” said Mercuri’s founding general partner Alan Hudson.
“The opportunity in …
