New VC DEV Launches With Investment In Online Live Music Platform StageIt
Veteran digital media exec Alan McGlade and venture capitalist Michael Yang have launched DEV (Digital Entertainment Ventures) to provide early stage capital and consultation services to next gen digital media companies. The pair's first investments include online live music platform Stageit and mobile gamer Mad Humans.
McGlade, who will act as DEV's managing director, was formerly the CEO of MediaNet, a major early player in legal digital music downloads, and of Video Jukebox Network (The Box). He sa ys that the new firm will continue to build its portfolio focused on music, media and entertainment.
One of Dev's first investments, Stageit, is a web-based platform that allows musicians to deliver and monetize interactive live experiences directly from their laptops that will not be archived or duplicated for distribution. Stageit was launched in March 2011 by CEO and music industry veteran Evan Lowenstein.