Pay-TV giant BSkyB today invested $8 million (£5 million) in a new Silicon Valley venture capital firm as it wants to “increase its exposure to relevant start-up companies” involved in online video.
Luminari Capital is based in Menlo Park, home of Facebook, and is led by Daniel Leff, who is also on the board of Roku, maker of internet-connected TV set-top boxes.
Sky, broadcaster of hit shows such as Glee and Yonderland, has no operations in America but is eager to stay on top of the latest tech trends as TV and the web converge and competition hots up from Netflix to BT. It said linking up with Luminari meant it would be in a better position to “partner” with start-ups.
Chief executive Jeremy Darroch has already invested $12 million in Roku, which powers Sky’s internet-enabled service Now TV — a cut-price alternative to satellite TV.
Darroch has also spent $2 million on 1 Mainstream, a US start-up that speeds up video-streaming, and taken a 10% stake in London “second-screen” app firm Zeebox.
