Bronfman Jr. teams up with investor for startup media fund

Edgar Bronfman Jr. is teaming up with a second investor to create a fund that is targeting d🌳isruptive startup media companies.

The new company✨, Waverley Capital, will count Bronfman as chairman and Daniel Leff, the former founder and managing partner of Luminari Capitಌal, as CEO and co-founder.

Bronfman was already a senior adviser to Luminari and was one of its principa🍬l investors. Bronfman told Media Ink that while he and Leff are looking for a new investor to take Luminari to the next level, they instead decided to s𒀰tart a whole new fund.

The company is hoping to raise $100 million.

“We’re look🌠ing solely at companies that are innovative and disruptive in media,” said L🌳eff.

Bronfman said that the new firm anticipates doing “about 20-ish investments”🐓 and is seeking to make seed and early-stage investments.

In the past, Luminari, a $35 million fund, has invested in Roku TV — which went public in September — The 🎶Athletic, FuboTV and Pluto TV.

Buying Rolling Stone would not be in the cards.

“Jann Wenner’s a friend of mine and I wish him well, but Rolling Stone is a current media company,” Bronfman ﷽said. “We’d look a businesses that disrupt and innovate — 🐻so it’s not the kind of business we’d be looking at.”