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Venture Capital/Finance

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Time Warner and Google has participated in a US$275 million round of funding in startup FanDuel, led by venture-capital firm KKR and Time Warner Investments, together with Turner Sports.Existing investors Shamrock Capital, NBC Sports Ventures, Comcast Ventures, Bullpen Capital, Pentech Ventures and Piton Capital also participated.The round brings New York-based FanDuel to US$363 million raised to date.Even though FanDuel is currently not profitable, the one-day fantasy sports operator claims paid active users have grown 300% from a year ago.

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Univision Holdings, Inc. and Grupo Televisa, S.A.B.  have announced that, together with Univision’s major shareholders, they have entered into a Memorandum of Understanding (“MOU”) and that certain subsidiaries of Univision and Televisa entered into an amendment to their existing Program Licensing Agreement (the “PLA Amendment”).In addition, Univison filed a registration statement on Form S-1 with the SEC ( the U.S. Securities and Exchange Commission) relating to a proposed initial public offering.

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Undertone, a company that creates digital advertising solutions for brands, has announced the acquisition of argentinian Sparkflow, an all-in-one platform for cross-screen rich media advertising. The transaction accelerates Undertone’s core capability of bringing unique, high impact formats to market and simplifies the process of building cross-screen advertisements, opening up new creative possibilities for marketers and agencies.The acquisition signifies Cygnus Capital, venture capital firm focused on digital economy, first important achievement.

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