Gary Vaynerchuk Launches $25 Million Seed Fund
Gary Vaynerchuk, the founder of Winelibrary.com and longtime champion of social media, has launched a $25 million seed fund backed by Miami Dolphins owner Stephen Ross. The fund, announced Wednesday, is called Vayner RSE.
Although there are few details yet on what RSE Ventures will invest in, Re/Code reports the fund is now a minority shareholder in Vaynerchuk's consulting firm, Vayner Media, which helps companies shape their digital strategy.
The launch of RSE Ventures should come as no surprise to those who have followed Vaynerchuk's career. The self-described workaholic is already an active angel investor who has backed startups including Path and Uber. Vaynerchuk tends to focus on media (circa, Food52, and RebelMouse), but also has an eye for monthly subscription services (BarkBox and Birchbox) and lifestyle products (handmade tea and Brit+CO).
Check back for an update on Vaynerchuk's plans.
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JILL KRASNY | Staff Writer | Staff Writer
Jill Krasny is a staff writer for Inc. magazine, where she covers the intersection of entertainment and startups. Prior to Inc., she was a writer for MTV and Esquire and an editor at TheStreet. She is a graduate of the University of Southern California with a degree in communication. She lives in New York City.