ErGo Media Capital, a new investment firm headquartered in New York, will provide venture capital and private equity funding to video game companies as well as companies in other entertainment fields like film, music, and television.
The new firm is backed by the related company ErGo Ventures, which invests in a much broader variety of industries. It says it will conduct investment deals worth up to $15 million per transaction, spanning the range of startup companies to established groups looking to expand.
ErGo Media Capital is being headed up by Matt Littin, who co-founded the film finance and distribution business Cinetic Media and served in various roles there from 1999 to 2009.
"With revolutionary changes taking place in technology and consumer behavior, and a historic recession further pressuring traditional business models, the entertainment and media landscape is being reshaped," Littin said in a statement.
"The company is positioning itself at the leading-edge of these changes, providing risk capital to innovative companies at a moment when financing is relatively tight," he added. "It's an exciting moment to be launching our firm."