Sinai Capital Partners, A Tech and Media LA-Based Firm, Raises $600 Million

$100 million will go towards New Slate Ventures, which has produced films from Lena Waithe and Lee Daniels this year

Sinai Capital Partners, the private equity firm encompassing both Sinai Ventures and New Slate Ventures, announced on Wednesday it had raised more than $600 million in new financing.

The Los Angeles-based company said $500 million was allocated towards Sinai Ventures, its tech-focused venture capital firm, while another $100 million went towards media fund New Slate Ventures. Sinai Ventures is behind 85 tech firms, including Pinterest and podcasting company Luminary. Overall, Sinai Capital Partners now has $800 million in assets under its management following its new raise.

“Much like the entrepreneurs we back, Sinai believes the adoption of technology presents a global opportunity to change lives for the better,” Managing Partner Jordan Fudge said in a statement. “To that end, we are mission-driven to discover teams building impactful companies across the world.”

Fudge, 28, launched Sinai Ventures in early 2018, a few months after investing in Pinterest.

Looking ahead, Sinai Ventures is looking to invest across all stages, with a primary focus on growth-stage startups and pre-IPO companies. New Slate Ventures will continue financing and producing films and TV series with its added funding. So far this year, the media company has produced Lena Waithe’s “The 40-Year-Old Version,” which was released last month by Netflix, and “The United States Vs. Billie Holliday,” which was directed and co-written by Oscar-nominated director Lee Daniels; that film is slated for a February 2021 release.

“We have long been dedicated to the thesis that the power of technology is the key to creating a more prosperous future,” Partner Zach White added in a statement. “Sinai is singularly dedicated to supporting founders with large ideas that are looking to make meaningful changes in the communities we live, work, and invest in.”


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