Term Sheet

The latest on private equity, M&A, deals and movements — from Wall Street to Silicon Valley

Hollywood talent agency CAA forming VC fund

February 8, 2013: 2:53 PM ET

CAACAA tries to raise a VC fund. Again.

FORTUNE -- Hollywood talent agency Creative Artists Agency (CAA) is raising up to $20 million for a new venture capital fund, according to an SEC filing.

The document is signed by Michael Rubel, managing partner and general counsel of CAA. No additional details were disclosed.

A firm spokeswoman declined to comment, likely due to regulatory restrictions against solicitation of an active offering.

If CAA is indeed raising outside capital for a venture capital fund, this wouldn't be the first time it has tried to do so. Back in 2007, CAA teamed up with Draper Fisher Jurvetson to raise between $150 million and $200 million for early-stage investments. But the effort failed to gain traction, and ultimately was scrapped.

Rival talent agency William Morris raised its own VC fund at around the same time, in partnership with Accel Partners and Redpoint Ventures. But the venture later collapsed, largely due to ownership and management changes at William Morris.

CAA also is a co-sponsor of Star Avenue Capital, a consumer growth equity vehicle that it formed alongside buyout firm Irving Place Capital.

Sign up for my daily email newsletter on deals and deal-makers: GetTermSheet.com

Join the Conversation
About This Author
Dan Primack
Dan Primack
Senior Editor, Fortune

Dan Primack joined Fortune.com in September 2010 to cover deals and dealmakers, from Wall Street to Sand Hill Road. Previously, Dan was an editor-at-large with Thomson Reuters, where he launched both peHUB.com and the peHUB Wire email service. In a past journalistic life, Dan ran a community paper in Roxbury, Massachusetts. He currently lives just outside of Boston.

Email a Tip | @danprimack | RSS
Current Issue
  • Give the gift of Fortune
  • Get the Fortune app
  • Subscribe
Powered by WordPress.com VIP.