Richard D. Parsons, senior advisor to Providence Equity Partners, former chairman of Citigroup, and the former chairman and CEO of Time Warner and business partner Rachel Lam who founded the Time Warner Investments group 2003 has launched a new venture capital firm.
Imagination Capital plans to invest into early-stage startups, writing checks of $500,000 or less in seed rounds. Mr. Parsons and Ms. Lam will target 20 to 25 investments in digital media, machine learning, big data, and esports companies over the next three years. Imagination Capital has already backed an esports startup called Boom.tv alongside existing investors First Round, Crosslink and Tandem Ventures.
