London-headquartered media and telecommunications company Sky PLC is expanding its startup investment activity in Europe and Israel, the company announced Sunday. As part of the plan, Sky will open a new office in Berlin and invest $4 million in Tel Aviv-based venture capital firm Remagine Media Ventures LP.
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Launched in May, Remagine was founded by Eze Vidra, a former general partner at Google Ventures Europe, and by Kevin Baxpehler, the former head of ProSiebenSat.1 Media SE’s Israel investment office. The fund invests in early stage Israeli media-related startups.
Since establishing its first investment team in London in 2012 and a second office in San Francisco two years later, Sky has invested in over 20 companies in the U.S., the U.K., and France. In the future, Sky intends to invest directly in Israeli startup companies, Emma Lloyd, group director of business development and partnerships at Sky said in a phone interview with Calcalist Thursday.
With 31,000 employees, Sky operates in seven European countries including the U.K., Germany, Italy, Switzerland and has 23 million customers, according to company statements. In June 2017, Sky reported annual revenues of 12.9 billion pounds (approximately $17 billion).